CoinGecko is a “cryptocurrency ranking and evaluation site” that lets users to track different coins and have access to qualitative data and metrics that can aid in the making of trading decisions. The crypto tracking tool evaluates the prices based on a number of factors and indicators.
These include developer backing (it tracks the ‘public source code repositories’); community activity which is an indicator of community backing and growth potential; liquidity (which measures altcoin’s true market potential); online ranking (alexa ranking) which defines its web traffic and publicity; and market reach (shows the ‘market capitalization share’).
Additionally, it draws data from crypto projects’ Twitter followers, Reddit subscribers, and other coin community platforms, as well as the cost of a 51% attack, the number of developers working on the coin.
How it works
CoinGecko supports more than 100 cryptocurrencies including popular ones such as Bitcoin, Ethereum, Litecoin, Ripple, Stellar etc. In addition to this, there are also many other small time coins that have been listed including Neo, EOS, Cardano, Verge, DogeCoin, IOTA, Qtum, Dash, ZCash.
The “sign up button” on the top right corner of the website allows you to create an account in just 10 minutes, by filling up a few forms.
Users are able to also track upcoming ICOs they can invest in. To do this, click on the ICO tab on the website.
Clicking on the “Coins” tab takes you to a page that lists more than 2000 coins or altcoins or tokens, with their price, change in price in the last 24 hours, their market cap, their liquidity, percentage score for developer activity, percentage score for the community support, and percentage score for public interest. For instance, from the list, you can see that Bitcoin, which has largest market cap, also has 97 percent of developer score, 89 percent of community score and 43 percent score on public interest.
Clicking on each cryptocurrency on this list offers more in-depth analysis including charts and changes in the last 60 days, 30 days, 14 days, 7 days, and 24 hours.
You can also track the prices for particular pairs on different exchanges in the last 24 hours. Besides, those wanting to track events in the cryptocurrency space can do that by clicking on the “Events” page.
The crypto tracking and information tool is in beta and is adding more coins on a daily basis. It also uses unique algorithms that considers all the listed factors at the beginning of this article.
The project was founded by Bobby Ong and TM Lee. Bobby is a University College London Economics graduate while TM Lee is a Purdue University Computer Science graduate.
Image Source: CoinGecko