Being an investor in the cryptocurrency market means confronting waves of information, data and statistics that you don’t always know what to do with. In this article, let’s see together 5 essential and free crypto tools to understand everything that’s going on in this ecosystem.
5 crypto tools you absolutely need to know
Although it is still very young, the universe of cryptocurrencies is witnessing a development at a surprising speed. In this tumultuous bubbling, new projects, collections of NFTs or simply cryptocurrencies emerge as quickly as others disappear. So much so that the life of an investor can quickly turn into a real headache if you don’t have the right tools to filter only the good information.
Indeed, some websites offer compile the data accessible on the blockchain and analyze it for you. They are gold mines for anyone interested in the world of cryptocurrencies, decentralized finance (DeFi), trading and investing in general.
By looking seriously at it, it is possible to unearth valuable information that a majority of investors do not have. Note that we will not dwell on the best-known websites (Coingecko, Coinmarketcap, or TradingView) but only on those that the majority of you may not know.
Obviously, high quality websites are often paid: Glassnode, Messari, TheBlock Research or CryptoQuant. However, this is not the case for everyone and we are therefore going to present to you the 5 best free crypto tools to not miss anything of what is happening in the crypto ecosystem.
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5 – Drops Tab
DropsTab is a complete tool for obtaining a lot of information about cryptocurrency market assets. In addition to the ranking by capitalization, this website offers indicators such as the dominance of Bitcoin (BTC), the “fear and greed” index, the ratio between upward and downward positions on Bitcoin observable on various large exchanges . Data on trading platforms and NFT collections are also provided.
Nevertheless, the real added value of DropsTab is in the “Insights” tab. Here you will find information on asset performance, investor portfolios to follow, market predictions, and more.
Above all, DropsTab offers a follow-up table on unlock tokens. As a reminder, this mechanism corresponds to a release of a certain quantity of tokens hitherto locked by a crypto project, which can represent a large percentage of the capitalization and cause a potential drop in the price.
👉 Follow the 5 unlock tokens not to be missed in April 2023
4 – CryptoSlam
This website is particularly aimed non-fungible token (NFT) investors and traders. Indeed, CryptoSlam is to the NFTs market what Coingecko is to the cryptocurrency market. There is a whole lot of information on the collections: volume of sales, quantity of transactions or even the number of buyers and sellers, all on various time scales (24 hours, 7 days, 1 month, all time ).
This information is also available at blockchain scale, which allows you to find trends. In addition, the “upcoming drops” tab (meaning “upcoming sales” in French) informs about NFT collections about to be launched. It is possible to sort by blockchain, date and even mint price.
In short, CryptoSlam condenses very useful data for investors wishing to professionalize in the field of NFTs.
3 – Coinglass
This tool is more for traders interested in short-term market movements. The Coinglass website provides a lot of information about perpetual and future contracts on the main cryptocurrencies and on the various existing trading platforms.
Among this information, there are obviously the prices, the volumes, the long/short ratio, the open interest or even the fundings. But above all, it is possible to observe liquidations on the whole market, by platform or by assets. There is a whole bunch of other extremely useful information, like top traders or position calculators.
👉 The words Open Interest or Funding don’t speak to you? Discover our glossary of technical analysis
2 – Dunes
Many websites had their place in this article, until we realized that the data was also accessible for free on Dune. This testifies to the power of this tool where you can find almost any data imaginable on any blockchain.
Concretely, this platform is based on the community. It offers the possibility of collecting information related to the blockchain and to create analysis tables of these data, viewable by anyone for free. Dune’s primary objective is to make Web3 data as accessible as possible and we can say that the bet has paid off.
If you are looking for information on a collection of NFTs, on a decentralized application, or even on a blockchain, there is a good chance that a dashboard exists on Dune and provide you with your answer.
1 – DeFillama
To finish, here is the most complete tool to date : DeFillama. It aggregates data on decentralized finance (DeFi), decentralized applications (dApps), blockchains, centralized exchange platforms, fundraising, stablecoins and even hacks.
Regarding DeFi, data can be filtered according to protocols or according to blockchains and allow to observe the evolution of the total locked value (TVL)track liquidations or unearth the best returns.
Finally, DeFiLlama is currently developing many other features. For now, the most used are the node manager on the blockchain and the aggregator aggregator to optimize fees during your decentralized cryptocurrency exchanges.
Bonus: Cryptoast
How to approach the best tools to have exclusive information the universe of cryptocurrencies without mentioning Cryptoast. In addition to news articles or files, Cryptoast offers a variety of very useful tools for investors. First, there are obviously the hundred or so presentation sheets of cryptocurrencies.
Next, Cryptoast also has a tracking tab for major cryptocurrencies (price, capitalization, variation on different timescales, biggest winners and losers, etc.) and NFT collections (floor price, amount of NFT, biggest winners and losers, collections coming out soon, etc.).
Finally, every week Cryptoast and its Cryptoast Research group bring you exclusive analytics content. Professor Chain explores on-chain data on the Bitcoin and Ethereum blockchains and provides you with a very in-depth study of the movements on these blockchains. As for our renowned technical analyst, Vincent Ganne, he also intervenes several times a week on Cryptoast to give his valuable opinion on the cryptocurrency market.
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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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