Markets and Prices
A lot of cryptocurrency enthusiasts and market observers reference websites that measure the digital asset economy by market capitalization. Now there’s a new data website, Coinmarketbook.cc, that calculates a cryptocurrency’s buy support based on order books held on various exchanges.
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There are many analytical websites that record the data of the largest digital assets by value and most of them focus on the total market valuation of each currency. Sites like Satoshi Pulse refer to the total U.S. dollar value of the number of coins that are in circulation. For instance, the price of bitcoin cash (BCH) is about $140 per 1 BCH, with a circulating supply of over 17 million coins, giving the currency a market valuation of around $2.46 billion. That places bitcoin cash markets in the fifth position among 2000+ digital assets within the crypto-economy. But Coinmarketbook measures the value of digital assets in an entirely different way, because it instead focuses on buy support for cryptocurrencies and determines the value of each coin in this manner.
“Market cap is a lie and buy support tells the true story,” Coinmarketbook explains on its front page. “Buy support ratings separate investments from gambles and buy support analytics determine if the current price will hold.”These are the top seven cryptocurrencies according to Coinmarketbook.
Coinmarketbook is quite different than data sites that show market caps. At the time of publication, bitcoin core (BTC) was still No. 1 on Coinmarketbook’s list, as it had a buy support ...