Coinmarketbook Shows a New Way to Gauge Crypto Value
December 6, 2018 12:06 pm
There is an increased number of websites by crypto buffs and market observers that measure the digital financial system by market capitalization. A new website, however, has a different approach when it comes to gauging the cryptocurrency value. Coinmarketbook.cc calculates cryptocurrency’s buy support based on order books held on various exchanges.
The record data of the largest digital assets is collected based on value by many analytical websites, most of them focus on the total market price of each currency. Websites with the likes of Satoshi Pulse, consider the total USD value of the number of circulating coins. But Coinmarketbook has adopted a different method to measure the value of digital asset. Rather than focusing on the market cap, it pays attention to buy support for cryptocurrencies and calculates the value of each coin in this way.
According to Coinmarketbook, Market cap is not the right way to determine digital assets’ value and buy support is the correct approach. The website explains, “Market cap is a lie and buy support tells the true story. Buy support ratings separate investments from gambles and buy support analytics determine if the current price will hold.” Coinmarketbook sets itself apart from the data sites that show market caps.
Coinmarketbook fetches some of the information from few of the analysis sites that rank cryptocurrencies based on different criteria like fair market value and global trade volumes. To improve the accuracy of record data, more analytics should be added to the website.
When it comes to dealing with order books on trading platforms, it is advisable to take assessments depending absolutely on buy support and order books. Order books can be misleading since there is little to no authenticity to buy and sell orders on exchanges.