Most crypto traders and investors are well aware of Coinmarketcap.com, which is a well-known website that tracks the prices of all the top cryptocurrencies. The site has been around since 2013, and has grown to be one of the most influential websites in the industry.
In June 2018, CoinMarketCap, one of the most popular cryptocurrency websites, introduced a new feature called token swap. The feature allows users to move one cryptocurrency to another one freely.
Today, CoinMarketCap rolled out a major new feature for the popular cryptocurrency trading platform: the ability to swap your unwanted tokens for whole new ones. It’s called swap, and basically it lets users trade their unwanted coins for new ones. Instead of waiting for exchanges to list new tokens, you can simply swap them with other users on the platform.. Read more about uniswap million token price and let us know what you think.
According to a recent report from Uniswap, the world’s largest decentralized exchange, the Ethereum-based platform has just been integrated with CoinMarketCap. This is an important step for both companies and will allow CoinMarketCap to offer token exchanges.
We are very happy to have integrated Uniswap into @CoinMarketCap.
The token pages now include an exchange icon that allows users to connect to an Ethereum wallet and exchange the token directly through the Uniswap protocol.
Great job of integration!!! https://t.co/qm4SbcTTCA pic.twitter.com/PwO3mEWJU4
– Uniswap Labs (@Uniswap) 30. June 2021
Uniswap noted that an exchange icon will now appear on the token pages, allowing users to connect to an Ethereum wallet and exchange their tokens immediately using the Uniswap protocol. In fact, this initiative has shown how easy and convenient token trading can be by integrating different companies and projects, rather than one company developing all these functions from scratch and implementing them themselves.
Of course, since Uniswap is an Ethereum-based project and only supports Ethereum itself and its ERC-20 tokens, those are the only tokens that will be able to use the exchange feature for now. Nonetheless, this initiative could open the door for similar integrations with other projects in the future, potentially making CoinMarketCap the centerpiece of a mass system.
The cryptocurrency price-tracking site itself alluded to this, noting that new integrations with other networks and DEX could be coming in the future. In terms of supported wallets, users can currently use MetaMask, Coinbase, WalletConnect, Portis and Formatic to do immediate token exchanges.
Commenting on the move, CoinMarketCap said that with the rise of altcoins in the DeFi sector, there is a great need for an easy and transparent way to exchange tokens and participate in different crypto products and ecosystems.
CoinMarketCap: Brief history
Appearing in the early days of cryptocurrencies, CoinMarketCap quickly began to gain popularity until it became the leading cryptocurrency price tracking site. Last year, in April 2020, it was taken over by the Binance exchange, which was criticized by many at the time, claiming that Binance would use the site to promote itself and its currency.
Binance has changed some of the principles of the crypto data aggregator by adding new features and improving the service, but it’s been more than a year since the acquisition and almost all of the criticism and complaints have gone away. That said, it’s worth noting that several CoinMarketCap executives left the company just a few months after the acquisition. The community seemed reassured that Binance would not abuse its ownership of CMC, and things quickly settled down.
MCC explodes in 2021
Earlier this year, CoinMarketCap even exploded, nearly tripling traffic to its site. In January 2021, the total number of visits was 101 million. Five months later, in May, the site had more than 272 million visitors. Given that crypto-currency prices rise and fall suddenly, it’s no surprise that people turn to CoinMarketCap to constantly monitor the price dynamics of their favorite coins and tokens.
Now that CoinMarketCap supports instant trading, it is likely that the traffic it receives will increase even more, although it may wait for the market to return to an upward trend.
Another thing to note is that CoinMarketCap has a common problem that has been largely ignored so far, namely that its website tends to go down from time to time for a while. Following the addition of this new feature, many community members have advised the site to fix the problem, as the last thing the company wants is for its site to look untrustworthy. Users do not want it to fail while trading tokens and cannot afford such problems.Yesterday CMC announced the launch of a token swap feature. This feature enables users to swap their tokens for new tokens, and it is meant to ease the market transition for users and developers. The feature is provided through the Uniswap protocol, a smart contract-based protocol that facilitates token swaps.. Read more about swapz token and let us know what you think.
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