Coin market cap and Coingecko are the 2 largest cryptocurrency information websites. When evaluating a coin or token, we often need to check the token matrics like total supply, distribution from those websites. If you stay long enough, you will find that some coin’s market cap information differs from one to another. For example, the total supply of token Wonderland is different from Coin market cap and coin gecko.
Then you might ask, which one is correct or how could I know which website provides the correct information. The answer is if you want to find the most correct answer, you have to check out the information from their block explorers.
Let’s still take Wonderland as an example, this is a token that has been issued from Avax. which means that the truth is held on the Avax blockchain and lucky we could access the explorer to check that information.
The step is:
Find a token from either Coinmarket cap or coingerko. from the information section, it will have a Contract address.
Copy that contract and go to the explorer. in this Wonderland case, the snowtrace (Etherum will be Etherscan and Binance will be Bscscan)
Past the contract addresses from their search bar and navigates to the token page, it will look like this
Most of the Token information will be addressed in that overview section plus there’s some more interesting to check. which is Holders if you want to ensure that the token has large enough holders and has been fairly equally distributed.
And a quick tip here: From the chart above, it will set a red flag as it seems that a large amount of the token was held in 3 wallets. but for this case it not that scared because those 3 are smart contracts(which have a note icon and the beginning of the addresses).