On August 1, CoinMarketCap.com (CMC), the cryptocurrency data aggregator and price tracker introduced its professional API for the developers and investors. It was announced in the official blog post by CMC.
“The upgrade is always meant to make services more compatible for the business use.”
In their major quarterly update, CoinMarketCap has launched various featured services including
- A new professional API
- Derivatives markets
- New exchange ranking
- Events page
- IOS app update
- The comprehensive glossary of cryptocurrency terms
Big News Day: Our pro API is now live! And you may notice a brand new CMC site with exchanges on the front page, derivatives, events, glossary and a newsletter! 💪😎 Read all about it on our blog: https://t.co/T68MHv6jxM
— CoinMarketCap (@CoinMarketCap) August 1, 2018
The founder of CoinMarketCap, Brandon Chez mentioned in their official blog post:
“As part of our mission to continue growing the cryptocurrency sector with our partners, our professional API will ensure that the CoinMarketCap data that users know and trust can be integrated into every application. Our API comes with a best-in-class developer dashboard that will help every developer – from hobbyist to large-scale cryptocurrency product teams – make the most of our data.”
The glance at the New Features- CoinMarketCap
Developers are provided the ability to use the aggregated data in product offerings. Such as offers trading pair data, market capitalization, price and conversions.
CoinMarketCap extracts and integrates the accurate details from thousands of variant exchanges every minute. The API is available with two price tiers depending on the service feature and their rate limits.
The historical data within five years is also accessible via API incorporating an enterprise contract.
Currently, there are two tiers available with the new data feed:
- A “hobbyist” starts at $79 per month
- A “professional” is worth $699 per month (Bigger clients)
Addition of Derivatives Markets
Helps user to explore the markets beyond the standard spot trading platforms.
CoinMarketCap is now supporting options, futures, and OTC exchanges.
In the future, they are comprehensively looking to add more derivatives markets data.
New Exchange Ranking
The exchange ranking page is redesigned in an even format with coin ranking page.
Using this service, the user will get a better highlight and analysis of the exchanges and coins.
Provides the total number of markets together with the rankings, users can view volume with several intervals, like one-day, seven-day, and 30-day volume.
Also, no-fee, standard fee, and mining exchanges are placed clearly, so that you can look up on exchanges relevantly.
Launched daily newsletter, the highly-requested service from community members. This covers daily latest trends, updates, and news in cryptocurrency.
Give the user a comprehensive market update to go through within five minutes or less.
Chex also stated in the blog post:
“With the newsletter, we want to provide additional information on the constantly-evolving field of cryptocurrency projects, ideas, and philosophies. We have been a member of this community since 2013, and we are focused on continuing to be the unbiased, independent voice in cryptocurrency.”
CoinMarketCap also designed a brand-new events page. The user can now tune up with the plethora of events about cryptocurrency around the space.
Moreover, this page will continuously update all sorts of coverage related to the community events
Here, event-goers will get the massive range of possibilities. Also, anyone can submit events to the page who wish to discover and attend.
CoinMarketCap has added a comprehensive glossary of cryptocurrency terms.This will help to instantly search and understand the blockchain and cryptocurrency concepts
Provide crisp explanations of complex cryptocurrency subjects. Content within this section spans usual expressions, memes, and technical terminology.
iOS App Update
The iOS app now holds currency conversions to improve the user experience.
Using the app, the user can convert between 32 fiat and five cryptocurrencies.
This platform is just five years old and celebrated its fifth anniversary in May. They released a mobile application by redesigning its logo.
In January 2017, the website eliminated all South Korean exchanges from its listings. As a result, there was a massive selloff period where user misunderstood the situation as a crash.
In July 2018, CoinMarketCap pulled off the lower limit of $50,000 trading volume per day. However, there were many more moves that the platform has taken to analyze and incorporate the better decisions.
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Image Source: CoinMarketCap