Is Crypto Bubble a Great Place to Track Coins?
A bubble is ordinarily related to inflated prices of digital assets. A great example of this can be attributed to the year 2021 when the decentralized finance (DeFi) market experienced its biggest run to date with inflated crypto prices that saw Bitcoin (BTC) and Ethereum (ETH) almost test $70,000 and $5,000, respectively.
Trading against their hypothetical values within the period, the speculative bubbles burst, leading to the loss of billions of dollars in the portfolios of many traders.
While the term has gained traction on the back of the aforementioned events, a platform named Crypto Bubbles was introduced into the market to provide indicators to industry stakeholders.
Crypto Bubble: What is this platform?
This is an interactive tool that helps with the visualization of digital currencies, with each bubble portraying a particular digital asset. Overall, the platform provides market data such as rank, price, changes in price performance (hour, day, week, month, and year), daily trading volume, and capitalization on the top 1,000 digital assets by value.
Aside from the most popular and two largest assets by market cap in the form of BTC and ETH, others such as Fantom (FTM), Polygon (MATIC), the Sandbox (SAND), Internet Computer (ICP), Decentraland (MANA), and more are also tracked.
It can be accessed on the web as well as the Google Play Store for smartphone users whose devices are powered by Android.
Some of its competitors include CryptoRank, CoinMarketCap, CoinTracking, CryptoTracker, CoinGecko, and Coinglass.
Is Crypto Bubble safe?
As one of the major players in the virtual asset industry, people in the UK, Canada, Germany, and France have been using the platform to make investment decisions about their holdings.
According to SimilarWeb, a web traffic, data analytics, and software company, most users of the interactive tool are normally interested in finance, productivity, and communication.
With this, it could be concluded that this platform is among the safest to help sophisticated and unsophisticated traders and investors track the crypto market.
Author: Raphael Minter
Raphael Minter/ Albert Zuhnden (preferred pen name) is a crypto finance writer, data miner, and fundamental analyst. Raphael has written hundreds of articles about centralized and decentralized financial instruments such as precious metals, commodities, stocks, and cryptocurrencies. He broke into digital finance in 2016 and believes digital assets and blockchain technology is the future of finance.