Cryptocurrency markets move at lightning speed, with prices shifting by the second and new digital assets emerging daily. In this fast-paced environment, reliable, real-time data is essential for investors, traders, and developers alike. Enter CoinMarketCap (CMC) — one of the most trusted and widely used platforms for tracking cryptocurrency prices, market capitalizations, trading volumes, and more.
Since its inception in 2013, CoinMarketCap has evolved from a solo developer’s side project into a cornerstone of the global crypto ecosystem. Today, it serves millions of users each month, offering comprehensive insights across centralized exchanges, decentralized finance (DeFi) platforms, and derivative markets.
Origins and Founding Vision
CoinMarketCap was founded in May 2013 by Brandon Chez, a software developer based in Queens, New York. Operating out of his Long Island apartment, Chez sought to create a transparent, accessible way to track the growing number of cryptocurrencies beyond Bitcoin.
At the time, there was no standardized source for comparing digital asset values. Price data was scattered, inconsistent, and often unreliable. Chez’s solution was simple yet revolutionary: aggregate data from multiple exchanges and present it in a clear, sortable format.
For nearly four years, he managed the entire platform alone. His dedication paid off — by 2017, CoinMarketCap had become a go-to resource during the crypto bull run, attracting widespread media attention and a rapidly expanding user base.
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Key Features and Market Impact
CoinMarketCap provides real-time tracking of thousands of cryptocurrencies across several key metrics:
- Price: Aggregated from multiple exchanges to reflect accurate global averages.
- Market Capitalization: Calculated using circulating supply and current price.
- Trading Volume: 24-hour volume across supported exchanges.
- Circulating Supply: Transparent reporting on available coins in circulation.
As of early 2025, CMC tracks over 8,000 digital assets, making it one of the most comprehensive crypto databases available. The platform also categorizes exchanges into three main types:
- Spot Market Exchanges
- Derivatives Exchanges
- Decentralized Exchanges (DEXs)
This classification helps users assess liquidity, trading activity, and market depth across different segments of the crypto economy.
The site draws an estimated 350 million page views per month and hosts over 445,000 daily active users, underscoring its role as a primary information hub in the blockchain space.
Controversial Decisions and Market Influence
One of CoinMarketCap’s most notable moments came in January 2018, when it removed several South Korean exchanges from its pricing algorithm. This decision was driven by significant price discrepancies between Korean markets and the rest of the world — a phenomenon known as the "Kimchi premium."
By excluding these outliers, CMC aimed to improve data accuracy. However, the move triggered immediate market reactions:
- XRP’s reported market cap dropped sharply
- Broader price corrections followed across multiple altcoins
The incident highlighted just how much influence CMC holds over market perception. Even though the platform doesn’t set prices, its aggregation methods can shape investor behavior and sentiment.
Brandon Chez later explained that while user complaints about inaccurate pricing prompted the change, the scale of the impact caught the team off guard.
Expansion into Indices and Institutional Tools
In March 2019, CoinMarketCap launched two major financial benchmarks in partnership with Solactive AG, a German index provider:
- CMC Crypto 200 Index (CMC200)
Tracks the performance of the top 200 cryptocurrencies by market cap, weighted accordingly. It represents over 90% of the total crypto market. - CMC Crypto 200 ex BTC Index (CMC200EX)
Measures the same basket of assets but excludes Bitcoin, allowing analysts to evaluate the health of the broader altcoin market independently.
These indices are now listed on major financial data terminals including:
- Nasdaq
- Bloomberg Terminal
- Refinitiv (formerly Thomson Reuters)
Their integration into traditional finance systems marks a significant step toward mainstream adoption of digital assets.
Acquisition by Binance and Continued Independence
In April 2020, Binance, the world’s largest cryptocurrency exchange, acquired CoinMarketCap under undisclosed terms. Reports from Forbes and other outlets suggested the deal was valued around $400 million, though this figure remains unconfirmed.
Despite ownership changes, CoinMarketCap continues to operate independently. This separation is critical to maintaining trust in its data integrity — especially given Binance’s competitive position in the exchange market.
Notably, in 2021, CoinMarketCap became an API partner for Coinbase, further solidifying its neutral stance and utility across rival platforms.
However, integration challenges have arisen. In late 2021, both Coinbase and Crypto.com temporarily removed CMC data feeds due to reported price glitches — underscoring the importance of accuracy in high-stakes trading environments.
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Frequently Asked Questions (FAQ)
What is CoinMarketCap used for?
CoinMarketCap is primarily used to track real-time prices, market caps, trading volumes, and supply metrics for thousands of cryptocurrencies. It helps investors compare digital assets, monitor portfolio performance, and analyze market trends.
Is CoinMarketCap owned by Binance?
Yes, Binance acquired CoinMarketCap in April 2020. However, the platform operates independently to maintain data neutrality and transparency across competing exchanges.
Why did CoinMarketCap remove Korean exchanges in 2018?
Due to large price differences between South Korean markets and global averages — known as the "Kimchi premium" — CMC excluded certain Korean exchanges to ensure more accurate global pricing calculations.
How does CoinMarketCap calculate market cap?
It multiplies a cryptocurrency’s current price by its circulating supply. This method focuses on coins actually available in the market, rather than total or maximum supply.
Can developers access CoinMarketCap data?
Yes. Through its public API launched in 2016, developers can retrieve live and historical cryptocurrency data for use in apps, dashboards, and analytical tools.
Are CoinMarketCap’s indices available on financial platforms?
Yes. The CMC Crypto 200 and CMC Crypto 200 ex BTC indices are listed on Nasdaq, Bloomberg Terminal, and Refinitiv, providing institutional investors with standardized benchmarks for crypto performance.
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Final Thoughts
From humble beginnings in a New York apartment to becoming a pillar of the global crypto infrastructure, CoinMarketCap has played a pivotal role in shaping how we understand digital asset markets.
Its commitment to transparency, combined with continuous innovation — from API development to institutional-grade indices — ensures its relevance in an ever-evolving landscape.
Whether you're a beginner researching your first investment or a seasoned trader analyzing macro trends, CoinMarketCap remains an indispensable tool for navigating the complex world of blockchain and cryptocurrencies.
As adoption grows and new financial products emerge, platforms like CMC will continue to bridge the gap between decentralized innovation and traditional finance — delivering clarity in one of the most dynamic markets of the 21st century.