1. Price (Cryptoasset)
The price of a cryptoasset is calculated based on the pairings available and collected by CoinGecko from the various exchanges for a particular cryptoasset. The price shown on CoinGecko for a particular cryptoasset is calculated using a global volume-weighted average price formula.
Example 1 (Different fiat pairings)
Using Bitcoin (BTC) as an example, and assuming we only track two exchanges, A and B which trades in USD and JPY:
Exchange A: BTC/USD = USD 1,000 / BTC @ 15,000 BTC Trading Volume (rolling 24 hours)
Exchange B: BTC/JPY = JPY 109,000 / BTC @ 10,000 BTC Trading Volume (rolling 24 hours)
CoinGecko will first convert JPY to USD using FX rates provided by OpenExchangeRates
. Assuming USD 1 = JPY 110, this will mean:
Exchange B: BTC/JPY = JPY 109,000 / BTC ≈ USD 990 / BTC
CoinGecko will then calculate the global volume-weighted average price. In this case, it will be:
CoinGecko BTC Price (USD)
= [Volume % * USD Price] + [Volume % * Converted USD Price]
= [ 15,000 / (15,000 + 10,000) ] * USD 1,000 + [ 10,000 / (15,000 + 10,000) ] * USD 990
= 0.6 * USD 1,000 + 0.4 * USD 990
= USD 996
Example 2 (Fiat & other crypto pairings)
Using Ethereum (ETH) as an example, and assuming we only track two exchanges, A and B which trades in USD and BTC:
Exchange A: ETH/USD = USD 200 / ETH @ 30,000 ETH Trading Volume (rolling 24 hours)
Exchange B: ETH/BTC = Ƀ 0.20000000 / ETH @ 20,000 ETH Trading Volume (rolling 24 hours)
CoinGecko will first convert the ETH/BTC price to a USD price using the CoinGecko BTC Price derived above. Assuming 1 BTC = USD 996, this will mean:
Exchange B: ETH/BTC = Ƀ 0.20000000 / ETH ≈ USD 199.2 / ETH
CoinGecko will then calculate the global volume-weighted average price. In this case, it will be: CoinGecko ETH Price (USD)
= [ 30,000 / (30,000 + 20,000) ] * USD 200 + [ 20,000 / (30,000 + 20,000) ] * USD 199.2
= 0.6 * USD 200 + 0.4 * USD 199.2
= USD 199.68
From Example 1 and 2, the prices obtained in USD are then converted into other local currencies such as GBP, CNY, JPY, EUR and so on using OpenExchangeRates
and then displayed on CoinGecko. Note: CoinGecko’s global volume-weighted average price calculation excludes data points that are detected as outliers as explained in Part 3 below.
2. Trading Volume (Cryptoasset)
The trading volume for a cryptoasset on CoinGecko is the aggregate trading volume of all trading pairs of the cryptoasset. Let’s assume Litecoin (LTC) is only traded on Exchange A and has BTC, ETH and USD trading pairs with the following rolling 24 hours trading volume:
Rolling 24 hours trading volume for LTC in Exchange A:
LTC/BTC = 5,000 LTC
LTC/ETH = 1,000 LTC
LTC/USD = 2,000 LTC
Assuming 1 LTC = USD 100, the 24 hours trading volume for Litecoin will be 5,000 + 1,000 + 2,000 = 8,000 LTC or USD 800,000.
Note: CoinGecko’s cryptoasset trading volume calculation excludes data points that are detected as outliers as explained in Part 3 below.
3. Outlier Detection
CoinGecko uses several methods to detect outliers as part of the algorithm to ensure that only the most up-to-date and most accurate information are aggregated and displayed on the website. The results of our outlier detection mechanism is shown on a coin’s Exchanges page, where some of the rows are greyed out. There are two shades of gray which are explained further below:
#1, 2 and 3 represents regular values and are not in gray shades.
(a) and (b) are values detected as outliers and excluded by our calculation algorithm.
(a) A lightly grayed-out row indicates that the exchange data is an outlier. There are several scenarios where this may occur:
- - Exchange API returning null values for trading volume.
- - For coins with 3 trading pairs or more, any trading pair where the price is out of the Median Absolute Deviation is considered an outlier.
- - For coins with 1 or 2 trading pairs, any price change that is greater than 100x from the previous price will cause the new price to be classified as an outlier.
Note: Coins with limited trading pairs are prone to huge spikes in the price charts due to price volatility caused by low trading volume.
(b) A fully grayed-out row indicates that the information is stale. This happens when no new tickers have been received from the exchange in the past 3 hours. This may be due to an error in the exchange’s API. The exchange information will be removed from the coin page if no new updates are received in the next 7 days.
4. Trading Volume (Exchange)
The trading volume of an exchange is the sum of the volume of all Trading Pairs available on a particular exchange. For example, assume exchange A has 2 different coins (ETH and LTC) and both have USD and BTC pairings:
Taking ETH = USD $200 and LTC = USD $100 from CoinGecko’s global volume-weighted average price and with the following trading volume (rolling 24 hours) of each pair:
ETH/BTC = 400 ETH
ETH/USD = 100 ETH
LTC/BTC = 3,000 LTC
LTC/USD = 2,000 LTC
Exchange A’s trading volume is then:
400 ETH + 100 ETH + 3,000 LTC + 2,000 LTC = USD 600,000
Note that CoinGecko’s calculation algorithm for an exchange volume excludes trading pairs that have been blacklisted for inconsistent data and have not been updated for over 3 hours. This is to ensure that the aggregated volume will reflect the market conditions as accurately as possible.
5. Trading Volume (Global)
The Global 24-hour Volume (top of the website, below the menu bar) is the sum of the trading volume of all exchanges as tracked by CoinGecko.
6. Available Supply
The Available Supply information displayed on CoinGecko is obtained from the various token teams and is verified by the CoinGecko team. If CoinGecko cannot verify the accuracy of such information, the Available Supply will be marked with a “?” symbol.
The Available Supply information is displayed on CoinGecko and the source of this calculation is shown by clicking on the
symbol besides the “Available Supply” text. The Available Supply information is used to calculate the Market Capitalization of cryptoassets.
For Proof-of-Work coins, an API endpoint from the coin’s block explorer is used by CoinGecko to query the amount of coins available. CoinGecko includes pre-mine coins in the Available Supply calculation as these coins can be sold by whoever that has control of these coins.
Available Supply breakdown for Litecoin (LTC)
For tokens issued on smart contract platforms (eg. ERC-20 tokens on Ethereum
), we calculate the Available Supply by deducting locked tokens from Total Supply. Locked tokens may include Foundation’s Fund, investors’ locked tokens, team’s locked tokens etc. The addresses of these locked tokens are obtained from the token teams.
Available Supply breakdown for 0x (ZRX)
The token balance of locked addresses is obtained automatically from the block explorer whenever an API is available. For 0x’s case, as it is an ERC-20 token, the token balances of the 0x addresses are obtained automatically from Etherscan and deducted from the total 0x supply.
7. Market Capitalization (Cryptoasset)
The Market Capitalization of a cryptoasset is calculated using the following formula:
A = Current cryptoasset price in USD
B = Available supply of an asset
Market Capitalization = A * B
For example, the market capitalization of 0x is calculated by multiplying the Available Supply of ZRX with its price. Assuming the Available Supply of ZRX is 583,209,787 and the price of ZRX is USD 0.25, the market capitalization is then calculated as 583,209,787 * USD $0.25 = USD 145,802,446.75.
8. Market Capitalization (Global)
The Global Market Capitalization (top of the website, below the menu bar) is the sum of the Market Capitalization of all projects tracked by CoinGecko.
9. All-Time High (ATH)
CoinGecko calculates the ATH using following data:
(i) ATH Price
(ii) ATH Date
(iii) Current Price
(iv) Current Date
% Drop since ATH= (ATH Price – Current Price) / (ATH Price) * 100%
Date since ATH = Current Date – ATH Date
10. Developer and Community Stats
Here at CoinGecko, our aim is to build the most complete and comprehensive database related to cryptoprojects that you can use to have a 360-degree overview on your favorite projects. For that, we cover various metrics that we feel are necessary to include for a full 360-view of an asset. Developer
CoinGecko tracks the development activity of the cryptoassets via public source code repositories on Github, Gitlab, and Bitbucket. We look at development activity because some coins are no longer maintained by the developer thus those coins would appear very unlikely to progress over time.
By looking at how much interest and effort goes around the development community, there is a chance that the coin will continue to innovate according to how the cryptoasset market sees fit. For more information on developer metrics, read our blog post
CoinGecko tracks the community activity of cryptoassets by looking at metrics from social media channels such as Facebook, Twitter, Reddit, and Telegram. Cryptoassets tend to experience tremendous growth when there is a strong community backing it. A strong, vibrant community contributes new ideas and features to be incorporated into the cryptoasset and signifies growth.
Getting your token or exchange listed on CoinGecko is free and no CoinGecko representative will ever ask you for any form of listing fees
. While we would gladly accept any donations (addresses are available at the CoinGecko website footer), please note that it does not guarantee a listing or expedite any part of the process. Listed below are some of the criteria that need to be fulfilled for a listing consideration on CoinGecko. However, do note that fulfilling these criteria does not automatically guarantee a listing as CoinGecko also evaluates many other factors prior to listing any project on our site. CoinGecko reserves the rights to publish or unpublish any listed cryptoasset, ICO, or exchange on our site without prior notice if we feel that any of the presented information is inaccurate in any way. CoinGecko will not provide an update if a cryptoasset/ICO/exchange fails any part of the review process.
- Working website
- Working block explorer
- Listed on any active exchanges where CoinGecko has an API integration.
- For market capitalization calculation, available supply must be communicated clearly (e.g. any Company/Foundation or founders/team locked/vesting wallets)
- Working website
- Have a fully transparent & identifiable team (Anonymous teams will not be listed)
- A working exchange website with actual trading volume that matches information in API
- A working REST API documentation
- Have a representative with whom the team can easily communicate for any issues.
- Coin Info page with identification of each traded coin on the exchange. Basic info required: Name, Ticker, Logo, Coin Website, Block Explorer. Example of an acceptable Coin Info Page: EthFinex Token Info
Do’s and Don’ts for Listing Submission:
There are certain things that you can help us with to ensure that the listing process is as smooth as possible. Do:
- Fill in as much accurate information in the CoinGecko Request Form
- Ensure that there are no dead links/bad references
- Submit multiple requests
- Repeatedly ask for status updates
- Offer financial gain to anyone for a listing
- Accept any offer from others who claim that they can expedite or guarantee your listing. Remember, CoinGecko representative will never ask you for any form of listing fees.
Listing process flow:
Cryptoassets / ICOs
- Fill up CoinGecko Request Form
- CoinGecko reviews requests
- If it passes review, CoinGecko lists the cryptoasset or ICO
- Submit the CoinGecko Request Form.
- CoinGecko reviews requests.
- CoinGecko creates an Issue on our open-source Github repository.
- CoinGecko developer or a developer from the open-source community will work on the exchange integration and submit a Pull Request.
- CoinGecko will review the Pull Request and if it passes all checks, it will be merged to the Github repository.
- CoinGecko team will check the code again and if it passes all checks, the exchange API will be merged to CoinGecko’s internal Exchange library
- CoinGecko team will check every single trading pair and match it against an existing cryptoasset listed on CoinGecko
- Exchange information will be populated (images, description, fees etc)
- Exchange integration is completed and exchange is listed on CoinGecko