Founded and Launched by TM Lee and Bobby Ong in 2014, CoinGecko is one of the industry’s traditional and giant data aggregators that tracks the cryptocurrency and token trading. Currently, the firm tracks above 4,700 coins and more than 300 tradings.
CoinGecko aims to boost “crypto participants’ understanding of fundamental factors that drive the market.” The founders of CoinGecko disclosed that they wanted to discover more transparent methods to follow up on cryptocurrencies.
As Ong told Coin Rivet:
“We believe that ‘market capitalization is not an entirely great measure of a cryptocurrency’s worth as it’s highly manipulated.”
On top of following up on tokens and measuring coins, CoinGecko follows up on other important key factors, including project code progress, community development, and open source code development, among different situations that affect its value.
“We started as a crypto data aggregator tracking developer and community metrics. For developer stats, we track Github, Bitbucket, and Gitlab. We count the number of commits, lines added/deleted, stars, forks, and pull requests. For community stats, we track Twitter followers, and Facebook likes, Reddit subscribers, new posts, and comments. We believe that we get a 360-degree overview of any particular cryptocurrencies by measuring community and developer stats.” Ong explained.
With thousands of cryptocurrencies in the market and new ones made almost every month, the CoinGecko team aims to help investors correctly understand the altcoins they can get by providing them with many qualitative, transparent facts. More than just looking at market capitalization is needed and can be manipulated easily; this is where CoinGecko comes in.
How Does CoinGecko Work?
After signing up and logging into CoinGecko, the landing page briefly describes and displays the top 100 cryptocurrencies. As further described on The Academy website, this is what users of CoinGecko can go about it:
“By default, coins are displayed under the ‘Market’ view, in order of largest market capitalization first. You can view crypto prices in order of market dominance through the ‘All-Time High’ tab or a range of Github statistics under the ‘Developer’ view. Also located on the top right-hand side is the ‘Social’ tab. This shows the number of Facebook likes, Telegram users, or Reddit subscribers a project has. Generally speaking, the more socially active a project is, the less likely it is to be a scam. However, this should not be the only tool for measuring the legitimacy of a project!”
While using the CoinGecko platform, one can view the number of available coins and exchanges and the general crypto market cap at the top of each page. Next to the fluctuating mark while writing, one will find the 24-hour volume accompanied by the dominant percentage of the BTC and ETH of the cryptocurrency market.
ETH gas price is another essential tool displayed in the website’s header and is estimated in Gwei and shows how dynamic the ETH ecosystem is, which helps users know the right time to buy Ethereum.
The Academy wrote,
“If you can monitor CoinGecko frequently, you can soon pick up on what time of day in your time zone gas prices are lowest and the cheapest time to make trades.”