Here, we’ve compiled a list of websites and tools that investors can use to gauge more information about the network.
Blockchain technology stores information such as transactions, token balances, smart contract codes, transfer amounts and wallet addresses. Investors have many tools at their disposal to monitor these data and make informed decisions. Here, we’ve compiled a list of websites and tools that investors can use to gauge more information about the network.
DeFiLlama is a popular aggregator of decentralized finance (DeFi) protocols. Although it is mostly used to track the Total Value Locked (TVL) of DeFi projects, the tool can also be used to track data related to stablecoins, airdrops, forks, top protocols, liquidity levels, and more.
Total Value Locked (TVL), which is the value of assets locked on the network, is a critical metric for understanding the financial health of DeFi projects. The measure is often used to determine which chain is trending and which projects have more growth potential.
For example, if you see that the market value is less than the TVL, the project may be undervalued. On the other hand, if the market cap is higher than the TVL ratio, the project may be overvalued.
Glassnode is an on-chain analytics tool that provides users with market information such as currency transactions, information on miners, wallet addresses and OTC tables. The tool includes a live data browser and built-in trading view that displays over 200 metrics and over 10 years of data. This makes it easy to compare blockchain metrics across different crypto projects. Additionally, his site provides users with in-depth market research and analysis on multiple networks, including Bitcoin and Ethereum.
EtherScan is a useful tool for those looking to gain a better understanding of the Ethereum network. The website displays information about token transfers, pending transactions, beacon withdrawals, gas fees and nodes, and more. Many blockchain security firms use the tool to track the activity of addresses that steal funds from the network. This information may be transferred to exchanges, which may prevent such addresses from issuing assets on the platform.
Dune Analytics is a community-driven platform that allows anyone to create dashboards. These dashboards reflect blockchain data such as user count, total holders, transaction volumes, and more. Although many platforms reflect these statistics, the biggest advantage is that Dun Analytics is free to use.
Another standout area is excellent information that is not readily available on other platforms. For example, one can easily access information such as how many tokens a DAO holds or which ones have been sold. On the other hand, dashboards related to Layer 2 solutions and decentralized exchanges allow users to see real-time popularity growth. Another popular dashboard compares data on NFT marketplaces – OpenSea and LooksRare. There are several dashboards to scroll through, and users can customize them to track what they want.
Sentiment is often used by traders to understand the basics behind networking. Metrics, such as Developer Activity, which tracks how active developers are in the space, are unique to Sentiment. Users can access such data to identify emerging social cryptocurrency trends. The tool also offers customized alerts, so users can identify any suspicious activity and receive behavioral reports from Santiment’s crypto analysts.
On-chain analytics tools allow investors to measure various aspects of any blockchain network and associated cryptocurrencies. By combining technical analysis with fundamental concepts, traders can make more informed investment decisions. Although it takes time to get started with these tools, investors can gain a deeper understanding of the crypto market by using an overview and useful insights.
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