CoinMarketCap: The Year 2023 in Review
Crypto Basics

CoinMarketCap: The Year 2023 in Review

Created 3mo ago, last updated 3mo ago

CoinMarketCap recaps major developments from 2023 including proprietary tools for traders, platform accessibility upgrades, global community building efforts, and what lies ahead.

CoinMarketCap: The Year 2023 in Review

Table of Contents

As another year in crypto comes to an end, we at CoinMarketCap wanted to share some of our achievements over the past 12 months. Despite the market turbulence, 2023 was a period of tremendous growth and innovation for us.

From rolling out new proprietary tools to improving platform accessibility and expanding our global community, we continued leveling up across all fronts. In this roundup, we'll recap major developments across our ever-expanding suite of offerings as well as provide a glimpse into what's on the horizon.

CoinMarketCap Fear & Greed Index

In 2023, CoinMarketCap launched our own Fear & Greed Index after noticing a gap in the market – most indices focused solely on Bitcoin.

And so our analysts got to work developing a versatile meter that captures overall market emotions based on five key factors:

  • Price momentum
  • Volatility
  • Derivatives analysis
  • Market composition
  • CMC proprietary data

The index shows a score from 0 to 100 indicating levels ranging from "extreme fear" to "extreme greed".

Monitoring the index over time provides useful insight into overall enthusiasm and sentiment extremes. This helps traders make informed decisions amidst crypto volatility. Although not a definitive predictive signal, the index assists research when paired with other tools.

Learn more about CMC's Fear and Greed Index!

CMC Labs

They say it takes a village to raise a child. Well in crypto, it takes an army of professionals for many promising startups to reach maturity too.

With that in mind, CoinMarketCap launched CMC Labs in 2023 - an intensive startup accelerator program for ambitious crypto projects. Spanning 12 months, the initiative aims to equip founders with the specialized resources needed to thrive in a volatile industry.

Participants gain insights into crypto market intelligence, operations, token economics, community growth, and other topics integral to success.

The curriculum also opens doors to an extensive network of partners like Polygon, Avalanche, and Binance for additional support. These connections provide technical guidance, potential funding opportunities, and invaluable learning experiences.

CoinMarketCap ChatGPT Plugin

This year, CMC announced the CoinMarketCap ChatGPT Plugin, a tool that enables users to get immediate answers to complicated crypto questions.

This plugin combines ChatGPT’s analytical capabilities with CMC's real-time crypto market data and insight. Traders can provide prompts or questions to the plugin around crypto. The tool then processes the request - crunching numbers, scanning datasets, and analyzing patterns - to deliver data-backed responses.

Learn more about how you can start using CMC's ChatGPT plugin now!

Improved Mobile Web Experience

It’s no secret most crypto users utilize mobile devices for their research and trading needs. So, in 2023, CoinMarketCap doubled down on creating best-in-class experiences for smartphone and tablet users by updating its mobile web user interface. Changes focused on consolidation, simplification and flexibility.

Key improvements included decluttering pages, shifting navigation bars for effortless thumb access, and introducing modular design patterns.

CMC Live

The rapid pace of innovation across crypto means users continuously have new developments to decode.

That’s why CoinMarketCap launched an X (formerly Twitter) Space-like feature called CMC Live that provides a platform that welcomes ideas sharing among industry experts.

Listeners can engage directly with speakers and gain firsthand market perspectives by asking questions and sharing struggles in supportive spaces. In an industry with an overwhelming amount of information to absorb, inclusive spaces that promote understanding between diverse minds are indispensable for true adoption.

Check out some of our past CMC Live sessions on rollups, memecoins and more.

Bitcoin Halving Countdown

CoinMarketCap launched our real-time Bitcoin halving countdown timer in 2023. The halving marks a scheduled reduction in Bitcoin mining rewards approximately every 4 years.

It restricts the speed of issuance of new BTC into circulation, ensuring continued scarcity necessary for viability. With the event approaching in 2024, CMC introduced a countdown timer with second-by-second precision.

The timer calculates the remaining time based on the Bitcoin blockchain's latest block data. No more guesstimates or static models but adaptive accuracy as the pivotal milestone nears.

New Coin Detail Pages

Finally, 2023 brought a momentous milestone in CoinMarketCap’s history after 10 years – a facelift of our renowned Coin Details Pages!

Enhancements spanned easier page navigation via flexible widgets and menus, integrated partner content like ratings and feeds, expanded historical data downloads and improved visual representations.

The new CDP mirrors CMC’s ethos around transparent design and clear insights served readily. By refining our defining research product, CoinMarketCap continues working towards our mission of crypto discoverability and education for all.

Check out what's new on our Coin Details Pages here!

Looking Ahead…

As we welcome 2024, CoinMarketCap has continued to be the industry’s trusted lighthouse guiding crypto enthusiasts towards growth opportunities, no matter how rough the tides or complex the seas.

Despite crypto complexity multiplying exponentially in recent years, CMC continues sharing up-to-date crypto information so traders and investors can access our world-class data.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
5 people liked this article