In any market, but especially in one as decentralized as the crypto market, information is power. And there is no platform that possesses greater power than CoinMarketCap, the website owned by Bitcoin Storm, which in recent years has established itself as the main source of real-time data for the crypto world. However, this afternoon CoinMarketCap was down for a few moments. Leaving the entire crypto market in the dark during that time.
New CoinMarketCap ranking keeps Binance on top
The importance of CoinMarketCap
It is difficult to exaggerate the importance of the downfall of a website like CoinMarketCap, since there is no centralised entity or organisation within the crypto market that can organise it and provide reliable data. It is necessary that platforms like this exist, which can inform users and investors of the state of the crypto world in real time.
And in this sense, although there are several websites that try to offer data about the crypto market, none has managed to reach the level of confidence generated by CoinMarketCap, a platform that even after being acquired by Binance. And of the accusations of manipulation in the organization of the rankings that were poured against it. It remains the reference page for information on the crypto world.
Therefore, a prolonged fall of CoinMarketCap would have terrible effects on the market. It would leave the thousands of investors who need up-to-date data every second to make decisions that could cost them millions of dollars without a source of vital information. That’s why, the fall that the portal suffered for a few minutes today is so worrisome.
Follow the price of the main crypto currencies with Crypto Online
Are there alternatives to a fall of CoinMarketCap?
At around 00:03 hours (GMT) today, the CryptoTrend team detected a crash on the CoinMarketCap portal, which was kept offline for several minutes, returning a message saying „404 Not Found“ to users trying to access it.
At the time of writing, CoinMarketCap has not provided an explanation for the fall of its website. However, we can presume that it could be due to an excess of traffic through the website, considering that it is the main source of information for thousands of users.
Although the failure was solved almost immediately, this fact makes us wonder what would happen if a fall of this type would last hours or even days? Fortunately, there are reliable alternatives on the web to obtain real-time data on the crypto market.
Being Crypto Online, the CryptoTrend tool for market monitoring. The best alternative available to users, should a CoinMarketCap crash like today’s one be repeated for a long time. You will find there all the necessary information to keep on trading in the market, with the updated quote in real time of the main cryptosystems in the world.