How are you all? I hope you are well. I have been digging around crypto since the morning. Sometimes things get stuck in my head so much that I can't find peace until I understand them. Today, I studied one such topic all day, and that is how Statista and CoinGecko work together.
The more I started reading, the clearer it became to me. Statista has long established itself in the world of data. Their reports, charts, analysis—everything is very clearly organised. But it became even more interesting when I saw that they create a large part of their crypto-related charts using CoinGecko's API.
While it may sound simple, there are actually many reasons behind it. The crypto market changes so quickly that it is very difficult to get real-time, accurate data. And CoinGecko works great in this area. Starting from Bitcoin, the price, volume, and market cap of thousands of tokens—everything can change in an instant. So when Statista uses that data to create its charts, you have to understand how accurate the data they rely on is.
Take, for example, their Bitcoin Price Index. That chart is created directly from CoinGecko's /simple/price API. Another advantage is that users can download those charts in XLS or PPT if they want. This is very convenient for researchers.
Another thing that caught my eye—their Top 100 Cryptocurrencies table. With just one API call, the price, volume, and market cap of so many tokens—all the data is available together. Having the data in JSON format means it's much easier to work with. There's no hassle of sorting, because CoinGecko sorts it by market cap itself. Such a simple system really works.
After reading the whole thing, I felt that there's a nice balance between these two companies. Statista wants reliable, organised, and quickly updated information. And CoinGecko can do just that. A solid foundation has been created by combining the needs of both parties.
After reading so much today, one thing comes to mind—the more digital the world becomes, the more dependent we are on data. But more important than getting data is getting it right, reliable, and on time. Statista and CoinGecko are doing that job very well.
One thing I realised after studying all day—if you want to work with crypto, you can't just look at charts or price movements. It's very important to know who is providing the data behind it and how reliable it is. And today, after seeing the work of these two organisations, I understand that better.
Posted Using INLEO