Top 5 Crypto Research Tools You Should Know

It is best to educate oneself on crypto terminologies, activities, research tools, risks involved, and sectors (CeFi, DeFi, NFTs, GameFi, DAO, etc.) before investing in the burgeoning industry and its volatile market.

For both beginners and experienced investors, the process might be easier than expected owing to the influx of educational resources from several learning platforms, such as “Gate Learn” and the availability of content having in-depth synchronization on important topics related to cryptocurrency and the blockchain industry at large.

Over time, certain crypto terms have stood out from others due to their prominence and usage. One such is the expression: “do your own research,” or “DYOR”. DYOR often entails the process of studying a project’s foundations before investing in it. By advising users not to blindly follow the advice of others, this term seeks to decrease the number of ignorant investors.

Furthermore, before a prospective investor should consider an investment in any new endeavor or area of interest, such as cryptocurrency, an extensive study should be conducted, and expert advice should be sought.

When researching a business, investors should look into several crucial areas, that’s the project’s medium and long-term plan, team members’ backgrounds and track records, past successes, and failures, and community involvement. These are worthwhile starting points to investigate.

Cross-referencing pertinent information from numerous reliable sources is a useful technique. Before investing, thorough research can be used to evaluate a project’s viability and potential.

With that in mind, this article seeks to pitch 5 relevant crypto research tools that should be known by users within the crypto sphere.

Top 5 Crypto Research Tools You Should Know

TradingView

Source: TradingView

Like many other tools, TradingView is one of the prominent tools that stands out for most people who probably are versed in the crypto space.

TradeView features various products such as Chart+, Screeners, and Heatmaps, as well as provides up-to-date news and an economic calendar; displaying all pivotal global economic events. It is also a key tool for following market trends around Stocks, Crypto, Forex, Indices, Futures, and Bonds.

Some features found in TradeView are discussed below:

• Chart+, which displays the trading panel, also enables the pine editor and allows users to flip through multiple screeners — stock screener, forex screener, and crypto pairs screener.
• Screeners provide data on stocks, crypto, and forex. Details on the overview, performance, and margin are also accessible in the screener section. Screeners help users narrow down their choice of investment to access the best available investment opportunities.
• Heatmaps on stock and crypto display the values of market cap and overall performance across various economic sectors.
• TradingView also provides access to multiple options of brokers integrated with TradingView and their ratings, as well as the tradable assets - Crypto, Forex, or CFDs (Contract for Difference).

The help of the robust charting platform from TradingView makes it easy to read, examine, and create charts for any stock or crypto asset. The platform’s availability for free use is what stands out as one of its most valuable assets.

As a user complaint tool, it hosts numerous tools that are included and enabled with its charting software. Within this section, one can be able to draw on cryptocurrency charts, as well as study the market.

To identify chart patterns, a user can draw shapes, and to identify candlestick patterns, the user can also alter timeframes or chart kinds. Furthermore, this tool has a broad spectrum to choose from concerning the selection of technical analysis indicators to make judgments based on detailed market data.

For users that may be sensitive to outlooks, TradingView offers a wide range of UI customization options. The chart can be customized down to the very last detail, and the same is true of the drawing tools and indicators.

Moreover, TradingView has a lively community that keeps its entire fold in place with specialized scripts (for indicators) and trading concepts. There are various social network capabilities on the site, including the ability to follow and add friends.

Messari

Source: Messari

Messari is a top-rated website for researching cryptocurrencies. It offers charts featuring a dashboard with assets and a display of the asset’s performances.

Screeners are also available to sift across various data to provide users with investable assets based on their preferences.

The Messari Governor enables users to keep track of the DOA’s (Decentralized Autonomous Organization) activities.

Further, as a platform, Messari has access to a sizable online database that contains comprehensive data on the whole crypto market and also publishes articles of research-based reports on the financial market and its evolving realities.

Data for Layer 1 and Layer 2 projects, DeFi, Web3, and NFTs are all available. It’s also possible to see a data terminal with every requisite information that is required about an asset when a click is made.

Toned out with such data involves information like token metrics, community links, resource lists, links to the blockchain explorer, a description of the asset, and how it compares to peers.

It also has a tab that features its live news feed with a user interface and compiles content from several reliable news websites.

Custom reports, in-depth analysis, and daily insights add up as further aids that Messari offers which are quite helpful.

Furthermore, it has other enticing features like its charts, which feature on-chain information like real market capitalization, active addresses, miner fees, and more.

This goes on to enable the user to obtain precise and comprehensive information on each asset. The user can track and view all the metrics of the assets that are significant to him using Messari watchlists.

Glassnode

Source: Glassnode

For on-chain analysis, Glassnode is yet another incredible crypto tool that is held in high esteem. Glassnode software collects information from several blockchain networks and keeps tabs on their behavior.

Users then receive this information from Glassnode, which gives them unique insight into the condition and prospects of a network.

When investors got aware of significant Bitcoin payments in 2020, the platform gained popularity. Coins were rapidly leaving exchanges as news of MicroStrategy’s Bitcoin investment spread.

The community was made aware of institutional investors’ presence and their decision to take cryptocurrency seriously. This stemmed from statistics that were garnered from Glassnode.

Several statistics are available on Glassnode, including those on active addresses, addresses with (or greater than) a specified balance, exchange outflows and inflows, supply distribution, and new address growth. It accomplishes this by examining blockchain data and turning it into an understandable chart.

The platform offers “Solutions” which include finding investors, investment opportunities, and prospects, carrying out market research, and information on building products.

Users also get to access Glassnode products such as Crunchbase Pro, Crunchbase Enterprise, Chrome Extension, and Data Licencing.

Noteworthy Features on Glassnode

• Glassnode studio features Charts that display the performance of various financial assets.
• The user dashboard contains a train of metrics covering supply, on-chain activity, transfer volumes, mining performance, and transaction fees, on the Bitcoin blockchain.
• User “workbench” offers users the exclusive trade zone as well as access to the database which is also available for download.
• TradingView is also integrated to help users explore on-chain metrics as well as compare technical indicators and drawing tools.
• Users also get to customize alerts on their on-chain metrics and get notified via E-mail or Telegram.
• Users can check market indicators on the Pulse section, also in glass code studio.

Cryptowatch

Source: Cryptowatch

One of the buzzes that brought Cryptowatch to the spotlight can be anchored to its ability to offer trade executions which was a promising steak to the industry back then and it was delivered as promised.

Charting, asset watchlists, real-time price notifications, and multi-exchange connections are all included in the trading terminal known as Cryptowatch.

Users within the crypto space have also utilized this tool to detect projects where fresh transactions can be done and executed seamlessly. It’s done in such a way that a user’s terminal can be customized, and charts or statistics for several coins and exchangers can be added.

In addition, Cryptowatch displays cryptocurrency leaderboards and details on specialized industries like NFTs and their Ethereum collections.

The following highlights feature is available on Cryptowatch

• The Chart enables users to execute trade while also tracking margin positions, viewing trade history, open orders, and viewing holdings, amongst other things.
• Users have the leverage to view financial assets, the current price, and market cap and assess changes in price within the last 24 hours.
• NFT prices are featured on Cryptowatch, likewise the name of each NFT collection. Users gain access to the price variations such as the floor price, 24-hour floor price chain difference, market cap, and the cost of financial assets at stake.
• The Exchange feature provides data ranking on various exchanges including but not limited to Kraken, Bitfinex, Coinbase Pro, etcetera. Its liquidity health, the volume within 24 hours, live markets, the launch year, as well as location of the headquarters.
• The Cryptowatch mobile and desktop applications are also available for download on the website and users can sign up on the website.

CoinMarketCap

Source: CoinMarketCap

Coinmarketcap serves as one of the veritable tools that most newbies are referred to when they begin their crypto journey due to its far-reaching use and impact.

With CoinMarketCap, it’s possible to view pricing information, cryptocurrency leaderboards, and market statistics. It has a simple user interface and displays cryptocurrency data of more than 5,000 tokens.

In most cases, whenever a user intends to have a glance at the activities and actions within the Crypto space, Coinmarketcap is a go-to search engine that easily serves this purpose.

With CMC, one can do very little, but also read brief overviews of a cryptocurrency, get links to useful resources, and check the prices of assets.

It hosts a section where it segments tokens into categories which allow users to get overviews of the performance of various types as well as potentially surface new projects.

CoinMarketCap features multiple sections on the platform with each hosting resource beneficial to users at the time.

The Cryptocurrencies section carries out the following activities:

• It provides a ranking for each currency highlighting the current price, the upward or downward difference within the last 1 hour, 24 hours, and 7 days, as well as the market cap and volume.
• It highlights recently added cryptocurrencies within the last 30 days.
• It segments tokens into categories that allow users to get overviews of the performance of various types as well as potentially reveal new projects.
• It highlights which crypto coins and tokens with a volume of less than $50,000 have gained or lost the most in the last 24 hours.
• It spotlights the best cryptos based on the latest available data.
• It displays a chart of the total cryptocurrency market cap.

The Exchange section ranks and scores exchanges based on traffic, liquidity, trading volumes, and stability in trading volumes.

Further, the community section hosts news feeds and articles on changing market trends as well as provides insight into existing realities in the financial market.

CoinMarketCap also offers products such as a cryptocurrency converter, the Coinmarketcap mobile app, blockchain explorer, and a job board for job applicants within the cryptocurrency space. It also provides learning opportunities through conferences, articles, and research.

The Importance of Crypto Research

Research is mostly done to practice risk-aware trading and disciplined thinking. If one were to invest a lot of money in a product without researching it, that would be similar to gambling.

With progressive strides, the blockchain space is gradually becoming more volatile than ever and this alone accounts for many reasons why executing proper research before implementation is very important for both newbies and experienced crypto veterans.

Conclusion

Crypto research tools are essential for any investor. Before putting your money into a particular cryptocurrency project, familiarize yourself with one or two tools. These tools will give you insight into the price movements for any crypto project.

When comparing a crypto project to regular markets and businesses, blockchain technology makes data more accessible and offers new approaches and measures. You have the extra benefit of on-chain data in addition to depending on conventional measures like financial ratios, the caliber of the team working on the project, and the actual product itself.

You can observe who is actually purchasing the coin, learn about these buyers’ profiles, and identify trends using on-chain data before anything is ever revealed. Utilizing all of the tools above enables you to do a more thorough examination of the protocols you’re interested in and may eventually help you improve as an investor or trader.