Coinmarketcap is a BEAST! Coinmarketcap is a MONSTER! Now in Top 500 Traffic Ranking.
According to Alexa, most of the traffic is coming from the United States, United Kingdom, Germany, Japan, and India. Cross-referencing other web traffic statistics, it's also a fact now that Coinmarketcap has overtaken most of the major relevant websites including Wall Street Journal, Investopedia, Bloomberg, Seeking Alpha, and Money CNN. Except Yahoo Finance, by roughly 200 ranks.
While it's difficult to ascertain what visitors are really doing on Coinmarketcap, I will give my opinions on the matter since I'm a frequent user of that website.
It looks like half of the visitors usually go there only to view the top 100 coins. With an average of 3-4 pageviews and 7 minutes spent on the website daily, it is most likely that most traders, investors, and speculators are using Coinmarketcap for the following:-
Check out new coins. There are over 800 crypto-assets now so it might take some time to even skimp through. The website is pretty useful for casual due diligence on projects with most relevant links in one place, other than charts and indication of network value (I prefer this term over market capitalisation recently). Above that, they also have the Markets tab for anyone to check up on exchanges that are trading the specific coin. The Social tab is alright as well, as it is a quick overview on the related social media accounts like in Twitter and Reddit, if any. Check out Steem's Coinmarketcap page here: https://coinmarketcap.com/currencies/steem/
Keep up to date with projects intermittently, especially if one is participating in many of them without close involvement.
Determine long and short positions using the Trending Gainers & Losers page here: https://coinmarketcap.com/gainers-losers/
So if you're part of any cryptocurrency related projects, it would certainly help a lot to make the relevant pages filled with the best information at all times. There are just too many eyeballs and potential that would otherwise go to waste, assuming there's substance deserving of attention in any of the projects or coins listed. Something for consideration: a Steem plugin or widget could do wonders on that website. It could be for the comments section like Disqus since it seems that it could be a hotbed for crypto rants, rumours, and discussions. Also, Steemit could be one of the components in the Social tab for any of the coins. Just saying that it's probably worth the trouble to take over one of the most visited crypto / finance websites on the planet.
If you're wondering what's with my slightly out-of-character and over-the-top post title, it's because of this hypnotic video hyping up Lisk last week. Maybe an extremely terrible idea, but it's funny that I took it as a signal to scoop up more of those "way undervalued" tokens. I hope the Youtuber makes another one specifically for Steem as well..
The video transports exactly the daily frenzy in the crypto scene. Loud shouting market makers making a big fuss with every ermerging coin and produce pump and dump schemes also for the most recognized cryptocurrencies. Lacking of true fundamental analysis is everywhere, because it's quite complex task to evaluate just one and also compare all the important currencies at once, BUT coinmarketcap.com has the data base to do that in the future, like gurufocus.com or ycharts.com for stocks for example. If someone evaluates a coin and explains why the price should hit a certain amount and not even take the supply of a coin into account then i have big concerns about the accuracy of the prediction.
The success of coinmarketcap.com is for me due the easy to digest Toplist with quickest updates of market moves. You see many valuable information on one page with short loading times and the detailed page with market volume chart for example reveals even more valuable information about the currency. Just to take an example. I bought in the EOS ICO in the first wave and coinmarketcap.com helped me to notice the massive price jump at the next morning after launching at a big exchange. Also to get a quick list of all available exchanges for a coin is great and see the spread like the crazy phenomenon in the split of Bitcoin Cash. It is the most valuable source for me if i need near realtime information about the crypto market.
I would like to see any realtime widget in Steemit for example from coinmarketcap.com and vice versa. You bring up a great idea to connect Steemit posts. There is a whole bunch of valuable posts and discussions about crypto here. That would be a valuable source like the articles section on finanzen.net, messageboard on yahoo finance or many others. It would be a catalyst to the whole platform if we connect and make the value visible to the world.
Completely agree with you. Bad money, drives out Good money. The money that was suppose to go into good projects will be going into sham projects. It has multiplier effect as it will erode peoples confidence from both the directions.
I have seen so many people who have been investing in Cryptos for couple of months not realising the circulation of coins and only looking at their price. People should start looking at Market Caps and Normalised Prices of Cryptocurrencies.
Until that happens and there more tools to see right through the pump and dump schemes Crypto will be highly volatile and many innocent people will loose their money.
One of the reasons why i tend to stay away from crypto vloggers.. well except this one coz at least hes being upfront with it and its actually quite hilarious. And yes, I've come across quite a number of enthusiasts that only focuses on the price point per coin without taking into account the network value (derived from the supply cap).. anyway most experts even have trouble trying to understand the fundamentals, and most dont even know whats going on with the crazy valuations! I think it's also quite difficult to try to bring traditional knowledge to try to make sense of things. Personally i think crypto valuations are more like futures, and most cryptos are in the realm of the collaborative commons.. but those price spikes can only be the work of folks piling on despite buying at what seems to be the peak when it happens, which is truly a fomo phenomenon, dreaming of crazy returns
i agree, it's very hard for a traditional investor. I'm personally a typical buy and hold value investor with some basic knowledge to find value. In the crypto scene it's for me currently more guessing or simply higher risk than in the common stock market. But if you not follow the herd and do your homework without fomo then i think it is possible get at least a sense what's worth for a deeper look and what's not. For me i trying first to sort out what's a typical asset or base technology for many applications, what's their unique selling point in comparison to established assets and then what's a typical coin built on an existing asset and what's their unique application. But that's just the peak of the iceberg.
Wow coinmarketcap has more traffic than the WSJ... that's hilarious! .... you should post about how Steemit.com is #1332! It's almost as popular as Coindesk!
Lol, well first of all I guess CMC did a good job making it accessible for all kinds of language, or perhaps that's just the nature of numbers and graphs ;) . Nice info! I didn't know it's matching up with the likes of Coindesk..
coinmarketcap has a simple site that's easy to navigate and understand with clear charting / even a crypto noob like myself can grasp it plainly... makes total sense ! / ty
All those advanced charting software and number crunches still boil down to 50 / 50 chances over the long-term.. so no matter ;) but i think those sophisticated stuff may help for short term speculation..
Yes, but ultimately there are coins and their are "coins," right? Some are actually competing with fiat currencies... other tokens are just penny stocks sold as ERC20 coins to raise money for an ICO. I'm just pointing out, people are getting confused, and some companies like QTM, for example, blur and muddy the lines.
Haha, I'm just an old-timer who likes to post poems, but hey, I am starting to read about this crypto stuff, and who knows, one day I'll get it and be master of the world.
Some of those crypto stuff are pretty poetic xD. I'll have to admit that I like going through those whitepapers especially if they're written by someone who has been trying to solve a problem for years or decades. It's really something personal and I find that quite enjoyable too ;)
yeah we are getting like this@kevinwong
This is a really helpful website indeed!
I have been slowly getting more into cryptos and started doing some trading. Its really quite overwhelming to be honest. The markets are so volatile and change so quickly. Plus there is a new coin every day it seems.....
What are your best sources for high quality info on new coins and speculation on value of current popular coins? I really would love to suck up some good intel and fine tune my perception on crypto trading!
Love you Brother!
See you at SteemFest soon!
I bought some SAN tokens just to support this idea of quality datafeeds https://santiment.net . Other than just I'm pretty much just investing in ideas after checking up on community size and market potential.. yeah it's a pretty interesting game. Can pretty much say that cryptocurrencies are making casual investing possible, I mean, just look at Steem's voting awesomeness..
Haven't heard of SAN, I will check them out.
Yes I love $teem as a crypto investment because not only is there potential for the coin it self to go up in time do to success and adoption but you can USE it every day and actively pay our self and other honorable people with a vote of which costs us nothing!
Really quite an awesome set up! I have been investing most of my time and crypto profits back into Steemit. Working out fairly well so far.
Are you going to SteemFest this year? I am going to speak this time, got a hotel booked, been looking at flights.
Thanks for the comment!
coinmarketcap is the holy grail for cryptos
That made me spill some cereal milk on my shirt lol thanks xD
Appreciate the validation that we're in the right place BEFORE the right time. This analysis is the type of stuff I can show my friends who I've been begging to get into cryptos and now Steemit as it becomes more visited each day in the rankings. I wonder if they'll ever redesign CMC's site as this trend continues or stay true to form like Craigslist did.
Also you just got my first upvote after my first Steem Power purchase.
As long as it's simple and light.. i dont think they should change, although with a rising rank, i think they're in position to test more useful and profitable stuff people might find themselves using!
Just wow. I checked it's traffic on a site called trafficestimate and I got this result:
"Coinmarketcap.com has received an estimated 26,935,000 visits over the last 30 days."
I had a couple of sites and I have to say the traffic stats on my end were way higher than on trafficestimate. Every single time. Sometimes 10x more! Also, if you look up it's whois, you can see it was registered on 2013-04-28. This is a really impressive growth!
What do you mean traffic stats on your end by the way?
You can implement different kind of tools to measure traffic for you. You paste in some lines of code and you can see who visited your site from what country and from where. Like that person came from Facebook and that came from Reddit, Steemit, etc. Even in real time. For how long they were on your site, what pages did they check, what keywords did they type into search engines before they arrived to your site, etc. The most famous is Google Analytics. If Google Analytics showed a number of 100k visits for the last 30 days for me when I logged in(on my end), then when I checked my site on trafficestimate, I got a result of around 10-50k visits.
But there are lots and lots of free and paid traffic measuring tools. It's a must for every website to know how the changes you made affected the behaviour of the people visiting your site. So you can double down on the things that work, and forget the things that aren't. These tools are really useful.
Well I'm sure my use this month has contributed to the Alexa ranking, haha. I'm refreshing the top 100 a dozen times daily probably, and then driving into the charts for things I want to consider buying. Thanks for the gainers/losers link, I hadn't even seen that before.
do that for a month everyday and I guarantee you'll get sick of it soon enough :p
Wow it is absolutely crazy how quickly that coinmarketcap is climbing up the ranks. I won't be surprised if it gets into the top 100 since I think it is the most popular site to use to check for market cap rankings as well as coin analytics.
It does seem like people only tend to check the top 100 coins. I just went on the gainers and losers chart and I can't believe how well embercoin is doing as I remember seeing a few steemians saying to buy the coin and I guess I should've listened haha
Thanks for the tips and suggestions @kevingwong. It seems like there has been a lot of hype around LISK and it seemed like it has worked seen by the recent price boom. I hope the same happens to steem as well haha
I like to hunt for those with low network value but considerable average volume. A bit dangerous and quite a gamble. Didnt go as well as some did but really one of the mad places to make a quick flip..