Coingecko Vs. CoinMarketCap, Which is Best Crypto Tracking Platform?

Just like the traditional finance market relies on day-to-day analytics, so does the crypto industry. Considering that crypto is becoming mainstream, understanding the market through daily analytics is vital for successful cryptocurrency investors. As such, platforms that assist in aggregating the cryptocurrency market data are becoming essential sources of information. It’s done through tracking data movement of prices, exchange trading volumes, listed coins, trading pairs, and the state of the crypto market. These analytics platforms keep adding new metrics as well as refining existing ones.  Among the leading crypto market analytics platforms are CoinGecko and CoinMarketCap. Both serve a common purpose. However, they exhibit different features that favor different kinds of investors in the cryptocurrency industry. Keeping that in mind, this article breaks down the major differences between the two leading crypto analytics platforms; CoinGecko and CoinMarketCap.

CoinMarketCap

Being a top analytics platform, CoinMarketCap is considered the leading price tracking and market aggregation platform for crypto in the world. Founded in 2013, CoinMarketCap quickly became a leading analytics platform that was a source of information for both companies and private users. The major aim of the platform is to provide crypto enthusiasts with accurate, unbiased, high-quality information for better-informed decision-making by comparing these digital assets.  The CMC platform lists thousands of crypto tokens and coins, helping investors track profits, prices, and evaluate portfolios. However, the platform was acquired in April 2020 by Binance, the leading crypto in terms of listed cryptocurrencies, number of users, and trading volume. CoinMarketCap is a powerful portfolio management tool that favors DeFi and crypto traders interested in different tokens’ real-time prices. 

CoinGecko

CoinGecko is an aggregator for cryptocurrency data used to track developer, social, volume, and price stats. Launched by TM Lee and Bobby Ong in early April 2014, the company amounts to a $3 million annual revenue. It tracks over 3,500 tokens and 250+ crypto exchanges. It has the strongest community based on its user-friendly interface that allows easier tracking of crypto data. The platform calculates the digital assets’ prices using the global volume-weighted average price formula. It considers the pairings of a specific digital asset on different exchanges.  CoinGecko also offers a UI interface that is compatible with 15 different languages. Its users enjoy APIs and widgets and the launched Beta version that’s used as a mining calculator for various crypto. 

CoinMarketCap Vs. CoinGecko

Popularity

According to a data report by SimilarWeb in 2021, CoinMarketCap (CMC) had over 35 million web visitors. On the other hand, CoinGecko had a quarter of that, with about 8.3 million web visitors. Both analytics platforms show an increase in traction in terms of monthly traffic, although CMC still dominates the market.  Thanks to Binance’s acquisition, CMC grew its already established audience and further boosted its traffic. It also benefits highly from Binance’s quality financial resources. Moreover, both platforms have apps for mobile and desktop devices apps as CoinGecko took the lead in launching its app in 2018 and CMC in 2019. The apps for both platforms support operating systems like SaaS, Android, and iOS. 

Crypto-Asset Rating

Part of the CoinGecko features allows its users to apply different filters to sort digital assets. It displays the price dynamics and tickers of various digital assets that correspond to specific periods.  They include periods between the last hour, a day, a week, or a month. Another crypto-asset rating feature is accessibility to Total Supply Volume. However, CMC’s interface isn’t that easy to use and isn’t as detailed as CoinGecko. For example, it doesn’t show the crypto prices for a day’s period. Although it has other metrics, CMC is a tool better used by investors familiar with the crypto market. 

Exchange Ratings by Liquidity and Volume

CMC has three specific exchange rating versions. The Top 100 By Adjusted Volume version includes the Trade-to-Mine model that rewards tokens to active traders.  The Top 100 by Reported Volume is used to display volumes of trading platforms. Liquidity is the most crucial metric, and it is calculated using parameters that include market order sizes, order-book depth changes, and mid-price distance. On the other hand, CoinGecko tracks the trading volume of a crypto asset across every active exchange.  Also, using its Trust Score, CoinGecko measures liquidity on crypto exchanges and trading pairs. Moreover, it expands its reach in measuring overall liquidity, API coverage, and operations scale. 

In-Depth Crypto Market Analysis

Apart from tracking and measuring tokens by market size and crypto trading exchange, CoinGecko has features for looking into other parameters. They include project codes, open-source code development, and community growth. Initially, it was a data aggregator for crypto-assets and track metrics for communities and developers.  Developers that the platform tracks include Github, and Gitlab, while tracked while the communities include Twitter followers and Reddit subscribers. It gives a comprehensive view of different cryptocurrencies.  CoinGecko also allows the tracking of ICO, allowing comparisons for accurate decision-making. However, CMC does not exhibit all these detailed features found in the CoinGecko platform. It’sIt’s a bit shallow and only offers crypto tracking as its primary function. 

Conclusion

Comparing the two cryptocurrency analytics platforms, CoinMarketCap is the most popular trading platform. However, CoinGecko has many features that make it easy for users to track crypto prices and detailed information about specific digital assets. For accurate investment, better decision-making relies on the amount of information or data available. CoinGecko proves to be the most suitable platform for crypto tracking. However, CMC tops most accolades on the list since it’s been a go-to tracking platform for many. 

   
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