Ever since cryptocurrency has been introduced as an investment tool around the world, finding the right information is even more important. To be able to do so, there are tools which can help. These research tools offer insights on what is happening with a specific crypto and its performance. It is important to use these and examine trends closely to ensure the growth of a portfolio. Which data analysis tools should you use to navigate the cryptocurrency space?
1. Data Provider platforms: Blockchain data is tracked by platforms like Glassnode and Santiment. Investors can find in depth analyses on all kinds of data – different networks, transaction value, block details, fees charged and information in smart contracts. It is essential to have the big picture.
2. Tracking social metrics: Unlike regular markets, crypto project information can be found on social media due to community engagement. Which means that information is more readily available on Twitter and Reddit. LunarCrush is one tool that collects relevant information on 3500+ crypto exchanges and currencies.
3. Technical Analysis: This is an important aspect of cryptocurrency. As an investor, you have to learn what technical analysis is all about and how to understand the information before investing. Tradingview is a well-known tool which offers information on crypto, stocks, forex and more.
4. Calendars: The crypto space is growing so fast that it can be difficult to track all changes. Whether it is ICOs, airdrops, NFT launches or something else, a tracking calendar is the only way to see what is going on. You can use Coindar or CoinMarketCal to stay updated.
5. Trackers for crypto derivatives: These trackers will help in understanding the spot market and get an overview of the market. What is happening in the derivative market influences the crypto market. Skew is a platform that tracks information on contracts on derivatives and offers the latest on every aspect.
It is important to use these trackers to get the right information. Use these extract every metric necessary and make your life easier.