CoinMarketCap launches a bunch of new features. The company is probably establishing a new professional API. This API will help to improve the life of the professional investors. Also, it will provide amazing new features like events page, newsletter, exchange rankings, updates, etc. This move is initiated based on the feedback from the users.
CoinMarketCap releases “Professional API”
The most important update by the firm is the Professional API. After a long-month of beta testing, the firm decided that this is the right time to provide traders with more information about cryptocurrency.
As per the reports, the API will be used by developers and various cryptocurrency investment firms who require information such as product offerings, data capitalization, conversations, trading price, etc. Here, CoinMarketCap collects data from 100+ exchanges at any time, hence developers will also be able to use the data.
Brandon Chez, who is the founder of CoinMarketCap states that “As a part of our mission to continue growing the cryptocurrency sector with our partners, the firm ensure that people receive the trusted info in every app.” The API consists of a developer dashboard which helps them to get the most of the data available. The API will offer historical data as well.
As more and more institution funds are used to build API, people expect accurate data and CMC is definitely looking to fulfill this need. However, the service is not available for free. The platform has provided the pricing structure which starts from $79 to $699 per month. When you are ready to pay more, you will receive data endpoints along with “call credits”.
CoinMarketCap adds derivative markets
One of the most amazing news is that CMC is currently adding derivatives section on its website. The platform will support future contracts, options, and OTC payments. Also, the platform will continue to add new derivative markets.
CoinMarketCap Adds Exchange Ratings
This is one of the most important features provided by the company. Lately, CMC has received a lot of controversies about wash trading and why the company didn’t do anything to stop it.
CMC has improved the raking system of cryptocurrencies and now provides more information. In the new ranking, you will be able to check the total number of markets and volume at specific intervals such as 1-day, 7-day, 30-day, etc.
CoinMarketCap Newsletter, Events and Glossary
CMC will provide newsletter, glossary and also an events section. CMC will send a daily newsletter to the users. In the newsletter, it will mention all the highlights of the particular day.
Glossary section will be useful for various users to understand new terminologies in the crypto section.
Lastly, the events section will provide you with details about the crypto events which are happening across the globe.
Lastly, CMC will also update its iOS App. It will provide more currency conversations with an improved design. You will soon be able to convert between 32 fiats and 5 cryptocurrencies in the app.
By introducing this new features, CMC aims to attract more people towards their platform and gain exposure about cryptocurrency.