WorldCoinIndex: What Is It and How Does it Work?

With new cryptocurrencies emerging it’s vital to measure their status and opportunities before investing. Cryptocurrency market aggregators are tools that provide structured and fast information.

There are various crypto market data aggregators online. While the ones like CoinMarketCap or CoinGecko are already well known, let’s have a look at WorldCoinIndex, another digital asset data provider.

What is WorldCoinIndex?

WorldCoinIndex is a free online platform that tracks over 3000 digital currencies and provides aggregated information on their price changes, trading volume, market capitalization together with the related news that come from integrated social media feeds.

Launched in 2014 WorldCoinIndex monitors more than 150 cryptocurrency exchanges and over 15.000 cryptocurrency markets. Accordingly, it provides data on daily trade volume and open interest from more than 900 crypto derivatives contracts. The platform also enables tracking personal crypto portfolios with automatically calculated gains.

How does WorldCoinIndex work?

WorldCoinIndex measures the digital coin’s price performance every few seconds and calculates its value by using the average weighted price formula. The tool then ranks best-performing cryptocurrencies according to their 24-hour trading volume.

The website simultaneously provides digital asset prices in Bitcoin (BTC) as well as in 13 major fiat currencies including the U.S. and Canadian dollars, Euro, Great Britain’s Pound, Turkish Lira, and Chinese Yuan.

However, Bitcoin is the only cryptocurrency represented in various fiat currencies on WorldCoinIndex. Each BTC-fiat pair has its own Bitcoin Price Index as Bitcoin is the most popular and most widely used digital currency. Bitcoin Price index reflects the average BTC price on leading cryptocurrency exchanges compared with the corresponding fiat currencies.

All other digital coins are denoted in BTC or currencies like Ethereum (ETH) or Tether (USDT) and their price indexes are calculated based on the Bitcoin Price Index.

How is WorldCoinIndex different?

There are many cryptocurrency data aggregators online that help to analyze digital asset markets. It’s the functionality that sets them apart from each other.

The first thing that differentiates WorldCoinIndex is the cryptocurrency ranking, which is based on the asset’s trading volume of the past 24 hours. The website’s algorithm calculates volume on the number of coins traded across all cryptocurrency exchanges every minute.

In WorldCoinIndex crypto price charts come in commonly used time periods. The listed price change percentage represents the difference between the last trading session price and the opening price.

The platform provides information on over 900 cryptocurrency derivatives contracts. The derivatives market comes in categories of Perpetuals, Futures, and Options. WorldCoinIndex also shares aggregated data on Decentralized Finance (DeFi) yield farming, in other words, crypto lending protocols.

Moreover, the website features the integrated social media-based news feed embedded in each coin. Delivering real-time quotes helps traders to analyze sentiments of cryptocurrency markets and take advantage of them.

Launched with the mission to simplify the process of choosing the right cryptocurrency exchange at a right time, WorldCoinIndex is another cryptocurrency market data resource that aggregates real-time information both for the global crypto community and for each market individually (Bitcoin Price Index).

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