One of the key goals creators of cryptocurrencies and crypto exchanges might pursue is getting into CoinMarketCap’s catalogue. And this may offer huge opportunities. Let’s see how to do it.
CoinMarketCap is the most popular platform for monitoring cryptocurrency prices and a catalogue of crypto exchanges, both centralized and decentralized. Its mission is to make cryptocurrency accessible and efficient, providing people with accurate and unbiased information they can rely on when investing or trading.
CoinMarketCap (CMC) was founded by Brandon Chez in May 2013. In April 2020, it was acquired by Binance Capital Management.
For many new cryptocurrencies, getting listed on CoinMarketCap is the number one goal in the project growth plan. This is an essence of long months spent on development and promotion.
CoinMarketCap states that it employs 5 criteria to evaluate a cryptocurrency. It must:
In practice, CMC also evaluates the following parameters:
Volume and trading pairs | Trading volume and liquidity are factors that help users set market prices for cryptocurrencies. CMC also thoroughly inspects trading pairs on supported exchanges and sources of volume. |
Community interest and engagement | A cryptocurrency’s helpfulness depends heavily on how the community perceives it and whether it can maintain user relations. |
Traceable progress | Can have different forms: growth in the user number, increase in partnerships or features for institutional investors or customers, roadmap progress. |
Team | Whether a project gets prosperous hinges on the developers, managers, advisors, and investors — especially if their skills and expertise can be utilised. CMC also takes into account the team’s behaviour (e.g. competence and transparency). |
Market share | A project with an MVP that addresses a certain problem is more likely to gain traction. |
Influence and practical use | Some of the most groundbreaking ideas (e.g. live broadcasting and e-com) failed first — just because they were much ahead of their time. It’s critical that the project can be implemented and put into practice in the target market. |
Uniqueness and innovation | Developing a state-of-the-art project offering one-of-a-kind technology or features expands the use of cryptography and contributes to the crypto ecosystem as a whole. |
Length of service | Projects come and go, and some are dumped too quickly. This is why CMC prefers exchanges who have stood the test of time. |
In simple words, a project should:
It might be a big deal. But it is totally worth it!
As with cryptocurrencies, appearing on CoinMarketCap can be a driver for any crypto exchange, primarily in terms of trust. Almost all exchanges strive for this, but only few can succeed.
CoinMarketCap states that it employs 7 criteria to evaluate a crypto exchange. It must:
In practice, CMC also evaluates the following parameters:
Volume and trading pairs | Trading volume and liquidity are factors that help users set market prices for cryptocurrencies. CMC also thoroughly inspects trading pairs on added exchanges and sources of volume. |
Community interest and engagement | An exchange’s helpfulness depends heavily on how the community perceives it and whether it can maintain user relations. |
Traceable progress | Can have different forms: growth in the number of users or partnerships, increase in features for institutional investors or customers, roadmap progress. |
Team | Whether an exchange gets prosperous hinges on the developers, managers, and investors — especially if their skills and expertise can be utilised. CMC also takes into account the team’s behaviour (e.g. competence and transparency). |
Length of service | Exchanges come and go, and some are dumped too quickly. This is why CMC prefers exchanges who have stood the test of time. |
In simple words, an exchange should:
CoinMarketCap has been and will always be a leader in providing comparative data on cryptocurrencies and exchanges. Enjoying 2 million daily visitors, this website sits on the bookmark bar of almost every trader’s browser. And getting listed on CoinMarketCap is worth every effort invested.
But be ready that even if your project meets all the formal requirements CoinMarketCap sets, adding your project may take months. This may be caused by subjective reasons. In some cases, different applications from the same project but handled by different managers saw different response time.
Nobody can guarantee that your project will appear on the list. But if you do your job professionally and consistently, your chances will soar. You might want to rely on a skilled team that will help you through this process.
Polygant offers you the following services:
We have been involved in listing for more than 6 years and have brought our own and clients’ crypto projects to CMC. If you want to get featured on CoinMarketCap, contact us on Telegram or through the feedback form and we will settle that for you.