Coincheckup: A Site for Cryptocurrency Ratings and Outlook Analysis
3 min read · · Korean original
Have you ever joined a so-called "pump room"? After blocking the Telegram messages that kept flooding in day after day, I finally joined one out of curiosity. In that group, called the "Pirate Room," messages started pouring in about a day in advance, announcing a "huge signal" and telling everyone to expect "a pump for the history books."
I waited 23 hours, and in the last minute before the signal dropped, my mouth went completely dry, as silly as that sounds. Then the signal came: "Upbit Bloom coin." Just in case, I bought Bloom, which had already risen about 30%. It climbed to 35% and then started to plummet. I was a fool to hold on, hoping for more. When I looked at the chart later, I could see accumulation had started about 2 minutes before the signal. The reason I'm sharing this not-quite review of a pump room is that I think, rather than trusting pump rooms and signal rooms like these, it might be better to look at the site below.
What's the outlook for cryptocurrency? It's been about a year since I started taking an interest in the crypto market, and the more I look at it, the more confusing it seems. No one can say for sure when a coin will rise or by how much, and above all, it's really hard to figure out what all these countless coins are actually used for and how. But if you believe in the future of the crypto market and want to invest in promising coins with a long-term view, the site I'm introducing today might be helpful.
That was a long intro. The site I'm introducing today is Coincheckup (coincheckup.com), a site that compares and analyzes virtual currencies (cryptocurrencies). There you can see coins analyzed fairly objectively based on a variety of algorithms. It doesn't seem to be well known in Korea. The site is currently available only in English. If English is difficult for you, using Google's translation feature in the Chrome browser should help.
When you first visit, you'll see a screen similar to the one on CoinMarketCap. You can quickly check the current price, market cap, 24-hour volume, and price change.
If you look at the tabs at the top, you can check more detailed information. Clicking the MARKET tab shows you the Market Overview, the Global Market Chart, Recently Added coins, and more. And as you can see under Categories, you can also browse coins grouped by category.
And here's the important part: the coin Analysis tab. If you go there and open the Fundamental Analysis tab, you can see coins ranked by Coincheckup's own algorithm score. You'll notice that it lists somewhat newer coins rather than the ones usually called promising in the market. (Please see the screenshots below. The one above was taken after clicking the Recently Added tab, and the one below is sorted by algorithm score. As of the snapshot, Ethereum Classic holds first place.)
Coincheckup's algorithm is built on factors such as the team, whether there are advisors, brand awareness, technology, community channels, and GitHub activity. After using it for a few months, I found that the rankings rarely change dramatically; positions shift by one or two spots every two or three days. Of course, the algorithm score may not guarantee each coin's future value or a price increase. But when you want to look at coins with more objective figures, it can be a pretty useful analysis. Not long ago, unlike Ripple and EOS, which the market had talked up as the altcoins Coinbase would list, the one that actually got listed was Ethereum Classic. That shows how the market's opinion and a coin's real outlook can differ. I use this indicator as a reference to some extent when I invest. I hope your investments go well, and that wraps up my introduction to Coincheckup.
