Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Since the early days of 2009, the cryptocurrency industry has exponentially grown in size, bringing in higher market caps, more active currencies, and higher daily transactions. In 2023, there are now over 22,932 active cryptocurrencies on the market, demonstrating the extent to which the sector has expanded.
While the vast majority of users concentrate on the top few cryptocurrencies, users who participate in digital assets for trading or investing typically have to interact with more obscure currencies. To keep up with the continual movements of these tokens, they must do a great deal of research, which can be taxing for users and lead to inefficient trading.
Tangem Wallet, a smartcard-based hardware wallet and mobile application for digital assets has set out to increase access to crypto for their users. At present, Tangem is preparing to release their Tangem Wallet 2.0 in October. In this new app release, the wallet will include several innovative new features that will streamline the user experience and provide a more comprehensive interaction with digital assets.
Of these new features, one that is gaining plenty of user attention is the ability to monitor token price changes from within the app. Let’s break down why this feature is useful to users and how Tangem’s rebranding is drawing crypto-enthusiasts onto their platform.
Why Do Users Want 24-Hour Token Price Changes?
One of the core aspects that sets the cryptocurrency market apart from traditional financial mediums is that it is live 24/7. Unlike the stock market, which has allocated active windows, often closing for holiday celebrations, the crypto market never sleeps. Even the FX market, known for its high degree of accessibility, closes on the weekends.
Crypto, on the other hand, is a 24/7 market with continual fluctuations, adjustments, and fast-moving trades. Due to the high availability of cryptocurrency, users who want to trade these digital assets must constantly check pricing charts to see how their currencies have fluctuated. In the world of crypto, prices can radically shift in the space of a few minutes, making live-price tracing a common practice for traders.
Staying informed on the dynamic crypto market is a must for anyone looking to actively interact, trade, or invest in cryptocurrency. Without live figures, traders will find it difficult to make informed decisions.
How Will Tangem Incorporate Token Monitoring Into the Application?
From the new Tangem application, users will now have access to a token organizer page. Within this page, clients can select a specific currency. After clicking on the currency, it will then be added to their list of tracked cryptos. This list will show which coins the user is following, as well as the network that the coin is supported on.
At present, Tangem supports 37 different networks, including market leaders like Bitcoin, Ethereum, BNB Smart Chain, Polkadot, Cardano, and many, many more. By adding a cryptocurrency to their list, users then obtain 24-hour token price changes. At a glance, the menu depicts a live stream of changing figures, demonstrating:
- How much of a crypto a user owns
- How much that crypto is worth that very second
- The total percentage change over 24 hours
As many users will have far more than a handful of cryptocurrencies at any one given time, they can also filter the list to look for specific currencies. Users can filter by the network, crypto value, total owned value, or another field that helps them to find the information they’re looking for.
By clicking on a specific cryptocurrency, users can additionally access a live trading chart, which will provide further details and the currency’s recent trading charts. At the top of the 24-hour price tracing screen, users will see the total value of their cryptocurrency in USD equivalent, helping traders understand their overall investment at any given moment.
Beyond the currently supported cryptocurrencies, Tangem has an active Users’ Wishlist to which they continuously add new cryptos. With a high degree of community interaction, Tangem uses X and other social media sites like Discord to collect feedback and requests from their users. Over time, Tangem will work to bring these suggestions onto the app, creating an even more diverse crypto-ecosystem for users.
With this feature, which will be available in October, Tangem grants their community the ability to track prices, make informed decisions, and stay up-to-date with every single coin they own.
The cryptocurrency market is notoriously dynamic, with daily fluctuations making it a highly entertaining and potentially profitable trading medium. With the diversity of cryptocurrencies available to the average trader, being able to select favorite coins and add them to a personalized list of tracked currencies is a powerful feature.
The updates that Tangem is soon to release will create an all-in-one information portal for cryptocurrency prices, keeping traders in the loop 24/7. With this feature integrated into a crypto wallet app, users will always know the exact value of their crypto, current pricing swings, and the daily movements of their favorite coins.
Tangem’s new features represent a long-awaited and comprehensive increase in the utility of this platform for traders, investors, and crypto-enthusiasts alike.