Coinmarketcap Launches Professional API and Adds Derivatives Markets
Coinmarketcap (CMC), the popular cryptocurrency markets tracker portal, has launched a professional-grade API for aggregated market data and added support for derivatives markets as part of a major quarterly overhaul of its operations.
CMC Professional API
The professional API is meant to offer developers and institutional funds the ability to use CMC aggregated data in product offerings, providing price, market capitalization, conversions, and trading pair data that the site aggregates from hundreds of exchanges. The company explains that it was launched after a month-long feedback and beta process with hundreds of users. This tool is meant for projects and investors that need to run more accurate simulations and backtest trading strategies. The service has a few price tiers from $79 to $699 a month and there is even an option for a custom Enterprise plan with up to five years of historical data.
“As part of our mission to continue growing the cryptocurrency sector with our partners, our professional API will ensure that the CoinMarketCap data that users know and trust can be integrated into every application. Our API comes with a best-in-class developer dashboard that will help every developer – from hobbyist to large-scale cryptocurrency product teams – make the most of our data,” said founder Brandon Chez.
The CMC quarterly update also includes the addition of derivatives markets, new exchange ranking, a newsletter, an events page, an iOS app update, and a glossary of crypto terms. With the addition of derivatives markets, the site now support futures, options and OTC exchanges, and the company promises to add other data comprehensively. The brand new events page will feature coverage of “community-led and fringe events.” The iOS app now includes currency conversions between 32 fiat and five cryptocurrencies.
As part of the exchange ranking update, standard fee, no-fee, and transaction mining exchanges are now marked clearly. Two weeks ago we reported that, Coinmarketcap responded to accusations that it is implicit in supporting wash trading after a platform called Crypto Exchange Ranks published detailed allegations of how the popular tracker incentives exchanges to report fake volumes. The company declared its determination to support “transparency and clarity”.
“As our new product releases show, we are constantly updating so that we can help to grow adoption of cryptocurrency. If you also believe in what we want to achieve, we look forward to having you join our decentralized team around the world,” added Chez.
Would you pay for professional grade crypto data from Coinmarketcap? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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