According to the official announcement, the new project is paid and majorly targets developers and funds. After the announcement came out, users were feeling skeptical about whether the public free API’s that were offered before by the platform will shut down. The new features offered are divided into various strata such as “hobbyist” access for $79 per month to a “professional” contract for $699 per month.
The professional strata is considered as the “best for scaling crypto projects,” which offers developers and funds the ability to utilize CoinMarketCap’s data that it acquires from numerous crypto exchanges.
Big News Day: Our pro API is now live! And you may notice a brand new CMC site with exchanges on the front page, derivatives, events, glossary and a newsletter! 💪😎 Read all about it on our blog: https://t.co/T68MHv6jxM
— CoinMarketCap (@CoinMarketCap) August 1, 2018
A Twitteratti replied to the tweet by saying, “So that means
@CoinMarketCap shuts down the public API so you guys can make money without a free plan. Ok then…”
So that means @CoinMarketCap shuts down the public API so you guys can make money without a free plan. Ok then…
— ssj2Crypto (@ssj2Crypto) August 1, 2018
To this tweet, CMC replied by saying, “There is a free plan. Come check it out!”
Vice president of marketing at CoinMarketCap, Carylyne Chan revealed that the new professional API is launched as a result of “a lot of inbound requests” of their data from developers and funds who were looking for a “more robust” API.
Brandon Chez, the founder of CoinMarketCap, said in a statement,“Our API comes with a best-in-class developer dashboard that will help every developer – from hobbyist to large-scale cryptocurrency product teams – make the most of our data.”
In addition to this, there are various other “highly-requested” new features added to CoinMarketCap which includes data from derivatives markets, a new exchange ranking system, an update to its iOS app, a daily newsletter.
“With the newsletter, we want to provide additional information on the constantly-evolving field of cryptocurrency projects, ideas, and philosophies. We have been a member of this community since 2013, and we are focused on continuing to be the unbiased, independent voice in cryptocurrency,” says Chez.
Chez further added,“As our new product releases show, we are constantly updating so that we can help to grow adoption of cryptocurrency. If you also believe in what we want to achieve, we look forward to having you join our decentralized team around the world.”
Image via Shutterstock
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