A new set of professional API services was launched by CoinMarketCap, cryptocurrency data aggregator, and price tracker. The new API services were designed for crypto developers and funds. CMC has long provided a free basic API to its users. This new product, however, offers users more data points.

Additionally, the new API offers users with higher rate limits capable of meeting the needs even that of professional users. The new API service includes a “hobbyist” tier, which begins at $70/month. On the other hand, the “professional” tier starts setting projects at $699/month.  The service includes an API at an enterprise level.

The enterprise level is also customized so that it would meet a fund or the specific needs of the developer. According to Brandon Chez of CoinMarketCap, the website’s professional API ensures that data available in the site can be used in every application. The new API services are part of CMC’s mission to support the continued growth of the cryptocurrency sector.

On that note, Brandon Chez boasts of their API’s superior developer dashboard designed to help developers to get the most out of CMC’s data.  Earlier this month, CoinMarketCap announced that the site will take bigger steps to better provide the best data and analytical tools to their users. The new API service is a follow-up to this announcement, a response to some of the criticisms to the website.

CMC faced some criticisms from some of its users saying that the website provides crypto data that are not always accurate. Following that, CoinMarketCap also updated the crypto exchange rankings. The site removed cryptocurrency exchanges’ minimum volume requirements.  The minimum volume requirements were required for the data about the cryptocurrency exchange to be published in CMC.

The removal means there is one incentive that is gone that could be used to manipulate the statistical algorithms on the website so that an exchange can rank higher on the daily volume charts of CMC. This platform update is a fulfillment of CMC’s promise. They had promised to provide a new ranking system for crypto exchanges.

The new ranking system also provides more tools for users to utilize in analyzing exchange data. Before the platform update, users can only view the volume statistics over a 24-hour period.  The new update does not only provide more tools for exchange data analysis. Furthermore, CMC is now able to identify what the exchange users for fee mode.

This is vital since the fee model can have a huge impact on the notional volume of the venue. Besides this update, CoinMarketCap also announced that the platform will be adding data from OTC exchanges and derivatives markets for a more comprehensive view of the crypto market.