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- 1 Crypto investors need to evaluate many projects before they put their hard-earned money into them.
- 2 There are analytical tools that help investors assess every aspect of wallets, exchanges, and dApps.
- 3 Using these tools, digital assets holder can take prudent decisions in their investments.
The crypto space is brimming with wallets, exchanges, and types of dApps. Unfortunately, the world doesn’t have a regulatory body that could ensure their authenticity. And in that case, the users have to take the onus and do it themselves. They have to assess the platforms on all the ground and ensure that their services are reliable.
But doing that take a lot of analysis which isn’t an easy task. Moreover, users aren’t usually equipped with the tools that make it possible. Thankfully, there are tools that make the job easier. They help crypto users in evaluating the power of crypto-based tools. They help the investors make a clear choice by showing them the true picture. Thus, talking about some of these efficient tools is very fruitful.
Powerful Tools That Are Useful To Every Crypto Investor
Equipped with cutting-edge analytics, these tools enable investors to check everything.
DeFi Llama
DeFi Llama is the best choice for many users for analyzing DeFi projects. It gives them aggregated data to check the full-scale performance of the companies. Also, it brings insights from statistics from different markets. The platform allows users to look at liquidity pools and trading pairs. It lets them track liquidity, staking, borrowing, lending, and total value locked (TVL).
Etherscan
Etherscan is a reliable tool for most Ethereum users. It is specially designed for the ETH community. The API, blockchain explorer, and other features of the platform make data tracking very easy. It even helps you track different metrics like gas prices, transaction volumes, and wallet addresses. However, its USP feature is the verification of smart contracts.
dAppRadar
It’s a free website that gives profound insights into DeFi apps, NFTs, and blockchain games. The platform has access to 10,000 different dApps making it a great choice for users. Furthermore, it covers more than 50 protocols and brings many features. It analyzes and tracks coins, reviews the industry, creates market reports, and tracks NFTs.
Glassnode
Glassnode is one of the most powerful blockchain analyses currently. It delivers in-depth market research into exchanges, OTC firms, wallet addresses, miners, and others. In addition to that, it comes with several other functions. The platform’s massive library preserves more than ten years of data. It has more than 200 items and allows integration with TradingView charts.
Dune Analytics
Dune is a very popular tool for analysis in the crypto space. This free platform delivers perceptive insights about charts. It helps users explore the markets with different types of studies. The visualized charts assist investors in decision-making. They enable the market participants to develop a directional view of trading. It empowers investors to stay ahead in the race of making profits.
Conclusion
With the help of these tools, individuals, as well as businesses, can assess new projects. From technical aspects to future prospects, these tools check everything. They ensure that the investors don’t make uninformed decisions. They show them the true potential of the platforms and their features. These tools empower investors in many ways.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
