Forbes Media Launches Alternative Crypto Platform to Rival Coinmarketcap

Blockchain, News

Forbes Media, in partnership with NewCity Digital Limited, has launched an alternative crypto platform to coinmarketcap.com called forbescrypto.com, run by Forbes Crypto Markets. It is currently in beta release version and displays key trading metrics on over 200 cryptocurrencies.

The Forbes crypto platform

The crypto platform also features a series of news articles displayed at the top of the page in a combination of crypto-related news and trading statistics. It includes news videos and interviews with figures in the space, content from Forbes.com, and indices tracking the performance of baskets of cryptocurrencies. The platform will be publishing new crypto indices including the Forbes CryptoMarkets Top 30 Global “FB30,” Top 10 Global “FB10,” Top Cryptocurrencies Global, Top 10 Blockchain and DApps Global, as well as indices by sector, industry, and cryptocurrency use-case. Forbes is also in partnership with a number of blockchain companies, such as Civil. According to Chien Lee, Chairman of NewCity and Forbes Crypto Markets –

“We are excited to partner with Forbes to create a trusted source for those seeking information on the new digital economy, including Bitcoin, Ethereum, cryptocurrencies, tokens and the companies underlying them. Forbes CryptoMarkets will be the definitive resource for everything crypto and blockchain.”

More legitimacy for the blockchain sector

For years, Coinmarketcap has been the main aggregate site used to access data on the cryptocurrency industry. The creation of a new website with the Forbes brand will bring a sense of professionalism to the whole sector, with more in-depth market analysis, custom indices and relevant news articles from key figures.

Coinmarketcap has something of a stranglehold on the market. While there are other alternatives, the addition of a mainstream media outlet will serve to bring increased legitimacy. Competition is also welcome, as there are drawbacks to relying on a single repository for information. Earlier this year, Coinmarketcap changed the way it calculates the market capitalization of cryptocurrencies, wiping more off the market than it should have and forcing sellers to rethink their positions.

Further credibility and adoption can also be observed outside of trade aggregation. Many large companies such as Bakkt (owned by Intercontinental Exchange) and Fidelity are launching cryptocurrency related services. These massive conglomerates will add further legitimacy to the sector, and national governments around the world are embarking on various DLT projects to bring the technology into mainstream awareness.

Digital Nomad with an interest in Zen and Blockchain technology.

Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.