Coin360 teaches us how to calculate prices and value
Coin360.com is a website that displays charts of different coins and exchanges and how they communicate together to deliver results. The site is loved by so many cryptocurrency users. Their results are simple and concise. Transparency made their project different from other competitors, below they teach users how they compute their charts and results that just pop out from a single click.
How to calculate the volume
The site show users the best exchange to trade a specific currency by comparing currencies (base currency and quote currency) which is to determine the number of quoted currencies required to buy one unit of the base currency. This is done on their liquidity book, where the whole problems have been solved and users can view answers only. Users that want to solve the volumes themselves can get the formula in this section “liquidity book”.
Coin360 achieve their price calculation by determining the “weighed average price.” This is needed to understand the number of times a coin you bought at a specific time is important. The answer is derived by finding the average value of the number of times you purchased a given coin. e.g: let 1btc = $200
1btc at $200
4btc at $800
3btc at $600
With the example above the ‘weighed average price’ is solved by multiplying each number of bitcoin by the amount you purchased it, and add the different answers consecutively, then divide by the total number of BTC you bought. e.g, ($200*1) + (800*4) + (600*3)/8 = 362.
This is typically how these numbers are calculated, this platform made the process sweet, users don’t need to stress about running the calculations themselves. It’s very easy to use and get fast results.
Sadly, this project is on hold and won’t update their work anytime soon because of a lack of funding. On January 14 2020 coin360 published on their Twitter handle that their website is working fine and functions completely, but at the moment they are on hold. So do not expect any fresh updates on this website. Just make use of their free services.