Forbes Contributes To Crypto Validation – Launches CryptoMarkets Crypto Price Aggregation Website To Compete With CoinMarketCap
The platform was developed together with private investment company NewCity Capital and blockchain startup trade.io.
Forbes CryptoMarkets launches
It will provide real-time pricing data for the top 200 cryptos, and they’ll be sorted by market cap.
There will also be a news aggregation column on the right side, and this will be listing top stories from significant crypto publications.
CEO of Forbes Media Mike Federle said regarding the launch that, “Forbes CryptoMarkets, a newly licensed business, represents a natural extension of our powerful brand into a new venture that promises to deliver immense value to investors, traders and market watchers.”
Chein Lee who is currently the Chairman of NewCity Capital will probably lead the platform. He said that they are more than excited to team up with Forbes in order to create a trusted source for people seeking data on the new digital economy.
The press release also explained that the website would also display info and insights from crypto exchanges all over the world such as the available trading pairs, prices, and volume.
Forbes CryptoMarkets will be directly competing with CoinMarketCap.
Special feature limited to Forbes
Forbes CryptoMarkets will also be able to track the performance of crypto-based indices, and this feature will be limited to Forbes’ own offerings at the moment.
For example, the “FB30” index lists the 30 most valuable cryptocurrencies weighted by market capitalization.
As the website explains, “The index applies weight ceilings and floors to the constituents.”
This way, a single, sudden change in a constituent’s market cap cannot manipulate the index in a particular direction.
Trade.io one of the firms that are teaming up with Forbes for Forbes CryptoMarkets announced that it suffered a security breach a couple of days ago.
A cold storage wallet has been compromised and had 50 million TIO utility tokens withdrawn from it by an entity that remains unknown.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.