Sirwin
Sirwin

How to become a crypto expert instantly - Metrics and aggregators (Part 1 of 2)


In order to measure the whole crypto-market (or just a coin/token), metrics and aggregators are used, as this market is still not mature enough, and it should never be compared with the stocks and commodities market. Collecting data is messy and controversial, as there are many sources available, and you need to trust them and believe that what they are telling you is true  (and not bending the truth or telling you outright lies, and it was noticed from time to time with some exchanges. What i found really funny is that some acquitances advised me not to write this post (they are paid thousand of dollars to teach the same things that i will just tell you here for free, because i started to like this platform, and i see people here that are genuinely interested to learn about crypto, special thanks to Mr. Igor Tomic and the rest of the team for the good work). Enough talking, start to learn now. 

 

 

Let's start with the most used metrics.

1. First one, and one of the most important, is the price. When we talk about cryptocurrency price, what you see is the last price traded (shown in USD, or in some altcoins case, in BTC). In our case, at this specific moment when i write the article, the price for 1 Bitcoin is $9616.68. (The price from the widget is updating continuosly, as i said, showing the last price traded. 

2. Another metric is the price change, shown in percentages, like stokes, over a timeframe: 1h, 24h, 1 week, 1 month, 3 months and so on. As you can see in the picture, under the price, is the price change. If no timeframe is mentioned, the default option is 24h. 

3. The volatility is defined as the price change over a function of time. The more the price is moving up and/or down, the more volatile is that coin/token. All cryptocurrencies are more volatile than stocks. There is no basis in predicting them accurately over a longer timeframe. Rule of the thumb, if somebody is telling you that they know for sure about a crypto-market move, they are most probably wrong. There are no experts in the field yet, and the so called experts from the TV/internet are no better at predicting than you. (Note: same thing has to be said even for shares and stocks, which are not so volatile, but still very hard to predict.)

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4. Circulating supply - this is the total amount of the coin in the open market (coins not minted yet and coins frozen by the project team are not to be counted in this number). As per today, there are 18,419,500 BTC in circulation, and this is roughly 87.712% of the total number of bitcoins (2,580,500 left to be mined). 

5. Maximum supply - some crypto have a maximum supply (we we talking about bitcoin with 21 millions max supply) and some crypto have no max supply (Ethereum).

6. The marketcap (market capitalization) is the most important value that you ned to know when you research any cryptocurrency. This is the value of all the coins in existence (in USD or BTC). The math behing this is simple:

MarketCap = Price x Circulating supply (Keep in mind that you will also take in account all the coins that are lost forever) The reported marketcap for BTC is $176,649,125,736.75.

7. The trading volume is defined as being the value of all the coins traded in the given timeframe (as for the price, the most used timeframe is 24h, in USD). This can be a bit tricky, as you rely on the exchanges to provide the real information to you. The reported volume for the last 24h was $19,072,947,284.94.

8. And the last metrics for today - Bitcoin dominance - measured in percentages, it is showing to us what part of the entire crypto-marlet is taken by BTC (in our case is 66.51% for today) or any other cryptocurrency. Enjoy the full market in one big picture using this link

That is all for today, i will be back tomorrow with more about aggregators (see bellow one example of data aggregator)

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Part 2 is ready also. Read it here

 

Sources used:

https://messari.io/asset/bitcoin

https://uk.tradingview.com/symbols/BTCUSD/

https://coin360.com/coin/bitcoin-btc

https://www.coingecko.com/en/coins/bitcoin/gbp

 

 

 

My crypto-related links  (check ratings - 1 to 5 stars based on my personal experience)

 

Exchanges

***** Binance( good for staking/savings ) - link here

***** Kucoin( good for staking/savings ) - link here

***** Coinbase( ideal for beginners )- link here  

 

Investments

**** BlockFi (decent interest rates, but less choices than Celsius) - link here

***** Celsius.network (good rates of interests and monthly codes for free crypto, 1235256530 => my referral for $10 bonus  ) - link here

**** Coinbundle (investing in crypto bundles) - link here  

**** Stakecube (staking, masternodes and very easy to claim faucets for 28 coins/tokens) - link here

 

Wallets for multiple cryptocurrencies

***** Coinpot - link here (microwallet for all Moon faucets, Bitfun and Bonusbitcoin)

***** Atomic wallet - link here (microwallet for Publish0x DAI, BAT and Loopring)

***** Sphere  wallet (for Horizen, combined with the faucet for extra bonus) - link here  

*** Crypto.com wallet (good interest staking and 50$ bonus in MCO) - link here

 

Free crypto (faucets and more)

**** Bitfun( 3 min countdown - automatically deposit to Coinpot wallet ) - link here

*** Bonusbitcoin( 15 min countdown - automatically deposit to Coinpot wallet ) - link here

**** Moon Bitcoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here

***** Horizen faucet ( 20 hours countdown - automatically deposit to Sphere wallet ) - link here

*** Tezos  faucet ( 7 days countdown - automatically deposit to Coinbase or Binance wallet ) - link here

** Tron and other crypto faucet (24 hours countdown) - link here  

 

Others

***** Publish0x  blog (Free BAT, DAI and Loopring for reading/writing - can combine with Atomic wallet) - link here

***** Brave  browser (Free BAT for using it, based on paid ads, very good AdBlocker and high speed) - link here    

 

 

Disclaimer: This text also can be re-published on my personal blogs, such as this one.

 

 

 

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Heruvim78
Heruvim78

I am a writer, gamer, healthcare professional. I am.


Crypto - I tested it, so you didn't need to...
Crypto - I tested it, so you didn't need to...

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