The new product reportedly aims to serve as a key “pipeline” that will provide accurate and differentiated data for developers and funds across crypto product prices, market capitalization, conversions, and trading pair data aggregated from multiple exchanges.
According to CMC’s announcement, the new features offered come at a fee, and are tiered between “hobbyist” access that starts from $79 per month to a “professional” contract that starts from $699 per month. This latter option is marketed as “best for scaling crypto projects,” and extends the available historical data across a five-year time span.
CMC presents its new API as a response to the diversification of new crypto products as well as the rising number of institutional funds investing in the nascent industry. The project notes that the API has undergone a month-long beta testing phase by users before today’s launch.
The new API also tracks crypto-based derivatives markets, with support for futures, options and over-the-counter (OTC) exchanges.
Earlier this month, CMC announced its initial move to introduce major changes to its exchange listings method in light of concerns over skewed trade volume data. The site attributed the volume data issues both to the new “transaction fee mining” model that has recently been adopted by some exchanges, as well as to “artificial volumes” and so-called “wash trading” practised by certain actors in the space.