A solid cryptocurrency investment strategy is built on a foundation of observation and analysis. There are currently more than 1000 or so different digital currencies in the market at the moment, however, so keeping on top of their ever-shifting price movements can be a difficult task. An extremely simple website called CoinMarketCap that offers crypto investors a comprehensive breakdown of the current prices of all cryptocurrencies is currently generating the largest amount of traffic in the crypto sphere, and for good reason.
The CoinMarketCap platform not only provides cryptocurrency investors and observers with a running update on the current prices of digital currencies, but also allows users to view historical price data and charts as well as links to the official website of any given digital currency. CoinMarketCap presents data in a simple, streamlined format that is incredibly easy to digest.
Digital currency pricing information is presented alongside market cap, circulating supply, 24-hour volume, % change over 24 hours, and a simple price graph. The mini graph that is presented alongside each currency allows investors to gain a quick helicopter view of its price fluctuations.
The extreme simplicity of the CoinMarketCap platform has made it so popular that it has outperformed the Wall Street Journal, one of the foremost finance news publications in the world. The CoinMarketCap platform is the perfect example of design simplicity- in many cases, offering users too much information can disrupt user interaction patterns, restricting the total amount of traffic a site can generate.
Clicking on any of the cryptocurrencies in the CoinMarketCap price tracker list leads users to a comprehensive breakdown and analysis page. This page offers a greater amount of detail than the basic overview provided in the landing page, and also provides links to other resources and message boards. The CoinMarketCap platform also provides users with links to buy any given digital currency, which are likely strategically-placed affiliate links- an intelligent move.
CoinMarketCap boasts a domain authority rank of 71 out of 100 according to Moz’s metric standards. For a cryptocurrency price tracking site this is exceptionally high, and is likely due to the sheer number of links directly pointing at the platform. Virtually any website that published cryptocurrency content links to CoinMarketCap as a reference to illustrate current market prices.
The prices presented by CoinMarketCap are slightly different to those provided by cryptocurrency exchanges such as Poloniex or Bittrex. This is because CoinMarketCap provides users with a market average price drawn from many different exchanges in order to develop a clear picture of the actual price of a cryptocurrency. While CoinMarketCap is a great tool for tracking the general price of a digital currency, it’s best to track the prices of cryptocurrencies on the exchanges you’re planning on trading on.
At the time of this report, CoinMarketCap is currently ranked 385th in the world according to Alexa, which is significantly higher than the Wall Street Journal, which ranks at 558. The low popularity of the Wall Street Journal could also be attributed to a sharp drop in traffic to the once-monolithic news provider in January of 2017, which is linked to the current US political climate.
The explosive rise in popularity of the CoinMarketCap platform when contrasted with the declining success of the Wall Street Journal could be considered a microcosm of the financial world at large, with incumbent powers structures experiencing an increasing amount of pressure from progressive blockchain technology.
The CoinMarketCap Formula For Success
The most important factor that has led to the unbridled success of the CoinMarketCap platform is the incredibly easy and simple user experience it offers. CoinMarketCap is the go-to platform for anybody seeking to track the prices of cryptocurrency in worldwide markets. The data that is presented by the CoinMarketCap platform is detailed enough to incorporate into actionable analysis and investment decisions, but is simple enough to avoid confusing users with unnecessary complexity.
The CoinMarketCap platform also tracks more digital currencies than any other platform, including their primary competitors CoinGecko and WorldCoinIndex. At the time of this report, CoinMarketCap tracks 1128 currencies over more than 5,500 markets.
CoinMarketCap also boasts the top SERP when searching for the price of any digital currency on the market. There are a number of factors that contribute to the platform’s strong position, but it can be attributed to the relative age of the domain, total backlinks, and how extensively CoinMarketCap is used as a reference point for market prices. CoinMarketCap is reference in virtually any cryptocurrency discussion online.
How Much Income Does CoinMarketCap Generate?
It’s essentially impossible to put a figure on the total worth of the CoinMarketCap platform, but it’s fair to say that it’s likely generating a significant amount of income. The extremely high ranking the platform boasts allows CoinMarketCap to leverage the profitability offered by Google ads, affiliate links, and direct advertisement for a number of initial coin offerings.
A conservative estimate of the CoinMarketCap traffic volume sits at millions monthly, which each visitor contributing at least a couple of pageviews. These figures place CoinMarketCap as one of the most profitable cryptocurrency sites online. For comparison, the direct competitors of CoinMarketCap are CoinGecko, WorldCoinIndex, and Cryptocompare.
Why Is CoinMarketCap So Popular?
The extreme popularity of CoinMarketCap is linked to the significant amount of attention cryptocurrency is gathering internationally at the moment, inviting commentary from world leaders such as Russian president Vladimir Putin and sparking legislative action from the Chinese government.
The growing interest in cryptocurrency has seen investors pump millions upon millions of dollars into highly popular cryptocurrencies such as Bitcoin and Ethereum. The soaring initial coin investment environment has also given rise to an extensive list of new cryptocurrencies, necessitating the development of a platform that makes it possible to track all of their disparate prices in one place.
CoinMarketCap is so popular due to the seamless and elegant way it provides a clear and simple solution to this problem, delivering value to both long-term investors and speculative day traders.
CoinMarketCap Final Thoughts
One of the key factors that contribute to success is the ability to identify opportunities as soon as they appear, and seize them should they appear promising. The early adopters of the cryptocurrency evolution have already made astounding financial gains, as have early adopters of the domain trading industry. While the initial pioneer stage may be over for cryptocurrency, the exploratory stage is now in full swing, and provides investors with a strong opportunity to generate vast amounts of income in the future.