Crypto analysis tools give you an insight into the digital currency world that is difficult to see with ordinary eyes. There are almost 7,000 cryptocurrencies, and you can’t manually check their individual trading prices on every exchange platform and still have time to make trading decisions.
So, these research tools will do most of the heavy lifting for you while you are just left with making the final decisions. See them here:
7 best crypto analysis tools for traders
7. Messari
This cryptocurrency data aggregating platform offers crypto analysis tools and charts. It categorizes data into various modes like sector, price, market cap, etc. You can select a filtered view that makes it easier to decide, although it is not entirely free. Some of its features require you to pay monthly/annual subs.
6. Trading platforms
Trading platforms like the btcrevolution provide you a place to trade bitcoin and software that makes trading easier. It allows traders to schedule one short daily period, saving them hours daily on the app. Also, demo trading modes give you a realistic practice place to test your strategies before using them in the real world.
5. Glassnode
Glassnode is a platform powered by an AI that accurately collects data from many blockchains and measures crypto network activity. It provides market indicators for virtually every relevant coin in the market. In addition, it shows the number of active addresses with successful transactions. You can even download data from the platform and set alerts for particular indicators. It requires a paid sub to use it to its full potential.
4. LunarCrush
Unlike many other crypto analysis tools, LunarCrush is a social intelligence platform that gives you a view into market activity, transaction data, and even investor sentiment. With its software, you can predict how the market is moving. Of course, it is not 100% certain, but it is as close as one can get to being one step ahead of the market. It works with a barter system; to enjoy its perks, you must contribute to the community and earn tokens called LUNR.
3. CoinMarketCal
The “cal” in its name means calendar, and this is one of the crypto analysis tools that work like a date marker. CoinMarketCal updates traders on events that happen (or will happen) in the crypto industry as they have significant effects on the market. Users can add events that get voted on: actual events get upvotes while fake ones (or unverified ones) receive downvotes. From its search tool, you can find any event that you feel impacts the market, and in addition, you can see listed events for a period that you select.
2. CoinGecko
CoinGecko is becoming a big competitor of the famous Coin Metrics. The platform is arguably one of the biggest data aggregators, with nearly 10,000 coins tracked. It provides price changes for these cryptos as they appear on more than 500 reputable exchange platforms. Also, it can give an in-depth analysis of the market and provide stats from social media platforms where the coins are being mentioned. The platform has paid and free tiers, and you must decide which works best for you.
1. Coin Metrics
Coin Metrics is one of the most popular crypto analysis tools that provide traders with financial intelligence, market data, index, network data, and more. There are more than 400 metrics on the platform that you can add to your chart, and they are downloadable in different extensions. It has never-seen-before metrics like free float supply and realized cap, which gives further insight into trading.
The crypto market is quite dynamic, with several things happening simultaneously, from social media mentions to more important ones like price changes and acceptance news. While you cannot keep track of everything at once, crypto analysis tools ensure you don’t miss the important ones. It is up to you to decide which events you want to track more regularly and make your choice of tools based on this decision.
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