A crypto tracker is a tool or platform that provides real-time information about various cryptocurrencies. It tracks and displays data such as current prices, market capitalization, trading volume, and price changes. These trackers often include additional features like historical data, graphs, and comparison tools, helping investors and enthusiasts stay updated with the dynamic crypto market.
Market cap, short for market capitalization, refers to the total value of a cryptocurrency. It's calculated by multiplying the current price of a single unit of the cryptocurrency by its total circulating supply. Market cap is a crucial indicator used to assess the relative size, stability, and growth potential of different cryptocurrencies.
Total volume in cryptocurrency refers to the amount of a particular cryptocurrency that has been traded in a given time frame, usually 24 hours. It's a vital metric that indicates the liquidity and activity level of that cryptocurrency in the market. High trading volume often suggests strong interest and activity, while low volume can indicate lesser engagement.
BTC dominance measures Bitcoin's market capitalization as a percentage of the total market cap of all cryptocurrencies. It's an important metric to assess Bitcoin's relative size and influence in the crypto market. A high BTC dominance implies a stronger influence of Bitcoin over the market, whereas a lower dominance indicates a more diverse market with other cryptocurrencies gaining traction.
Gas fees in cryptocurrency, particularly in networks like Ethereum, are payments made by users to compensate for the computing energy required to process and validate transactions. These fees are calculated based on the complexity of the transaction and the network's current demand. High demand and network congestion often result in higher gas fees.
Cryptocurrency prices are determined by supply and demand dynamics in the market. They're influenced by various factors, including market sentiment, investor behavior, regulatory news, and technological developments. Prices fluctuate based on the number of people willing to buy or sell at any given moment, and each exchange may display slightly different prices based on the specific trades occurring on their platform.
Cryptocurrency prices can differ across exchanges due to variations in supply and demand in different markets. Factors such as the exchange's user base, geographic location, trading volume, liquidity, and even the speed of processing transactions can influence the price on each platform. Additionally, differences in fees, trading pairs available, and the exchange's reputation can also contribute to price discrepancies.