HOW DOES COINMARKETCAP and EXCHANGE COMPUTE Coin % CHANGE

[Tobaa]

Hello

Pls I am trying to understand how sites like coinmarketcap and other exchanges compute the % change for coins.

Particularly, what time reference point do they use for 24hr, 1hr etc

THanks

[Aveatrex]

Hello

Pls I am trying to understand how sites like coinmarketcap and other exchanges compute the % change for coins.

Particularly, what time reference point do they use for 24hr, 1hr etc

THanks

Per example,if a coin was 1$ today,and tomorrow it rised to 2$,the change is +100%.Concerning the time reference they use,my guess is they use UTC time zone (or GMT if you prefer).
I hope this answer your concerns.

[thefatman82]

Hello

Pls I am trying to understand how sites like coinmarketcap and other exchanges compute the % change for coins.

Particularly, what time reference point do they use for 24hr, 1hr etc

THanks

Usually only one point that I'm checking on the coinmarketcap site is the global market capitalisation and those subjective ranks that they're giving to every other coin. This can give me a picture of overall situation on the market.

[jhenfelipe]

They have their FAQ and your question has been answered there (see quote below). If you want more information on how coinmarketcap works,  just go to https://coinmarketcap.com/faq/

In what time zone is the site based?
Data is collected, recorded, and reported in UTC time unless otherwise specified.

At what time is the 24 hour % change based?
It's based on the current time. It's a rolling 24 hour period.

[glorybtc]

I think all aspects of cryptocurrency change in coinmarketcap.com are calculated in 24 h, the change was obtained from the comparison between the current price and the price of 24 h ago

[Tobaa]

Ok, thanks for all the inputs.

[nicster551]

I think all aspects of cryptocurrency change in coinmarketcap.com are calculated in 24 h, the change was obtained from the comparison between the current price and the price of 24 h ago

There you have it. I was going to say this but he beat me up to it. I never thought that this would be important but I do know now.

[TheQuin]

They have their FAQ and your question has been answered there (see quote below). If you want more information on how coinmarketcap works,  just go to https://coinmarketcap.com/faq/

In what time zone is the site based?
Data is collected, recorded, and reported in UTC time unless otherwise specified.

At what time is the 24 hour % change based?
It's based on the current time. It's a rolling 24 hour period.

That's also why it is almost completely useless to a trader. You want to the % change against a fixed reference point so you can spot things that are making large moves. Using a rolling 24hr means that the % can also change rapidly due to a move that happened yesterday. All fiat trading systems use a fixed reference point including forex markets that trade 24/5.