Is anyone looking for an alternative to CoinMarketCap? If our goal is decentralization than its not crazy to want multiple market overview platforms so that all of our market info isn't coming from a single source. In my search to step away from CoinMarketCap after the fiasco that was the silent removal of Korean markets from calculations, I wanted to shed some light on another option that is out there.
OnChainFX
OnChainFX is a great alternative to CoinMarketCap. Below I will discuss the Pros and Cons of the CoinMarketCap alternative.
PROS
OnChainFX offers much more diverse tools for your market analysis. Their diverse filtering options allows us to take a look at cryptocurrencies from multiple perspectives. My favorite filters include:
% Down from ATH
Consensus/Mining Options
And even an option that flags potential scams
Because of the wide array of filtering options, OnChainFX provides us with a wealth of knowledge that can lead to better trading and investing in the cryptocurrency space.
CONS
Currently, OnChainFX is limited in the number of coins that it covers. As of this post, OnChainFX only lists 63 of the 1500+ cryptocurrencies. Because the site is currently in Beta, I don't view this as a major flaw but as more and more people start using OnChainFX, it is important that the site include much more than just 63. Because the site's goal is to be your source of cryptocurrency market data, it is important that all information be available to the sites consumers.Limited information can be viewed as misinformation.
In summary, OnChainFX looks to be a very promising alternative to CoinMarketCap. It offers a diverse range of filters that can add much more depth to market research. However, if OnChainFX wants to become the "go to" site for market data, they must add more currencies to their list.