Crypto analysis tools are emerging as a must-have in the fast and complex world of cryptocurrencies, it is important to have access to apps and tools that can help vastly with making informed decisions.
Crypto analytics is a technique used to know the worth of an asset, and it is done by measuring the qualitative and quantitative aspects of the economy.
The goal is to convert all the big data and show it in a presentable way with the help of visualization that is easier to understand, even for newbies but first, we have to know why analysis is really needed in the crypto world.
Why is Analysis Important in Crypto?
The analysis is the need of the hour in the crypto world, as it is quite technologically complex and highly volatile.
Navigation
Crypto analysis tools act as a compass on the ship that is sailing through the storm because they’re the right tools that can help you navigate through the crypto market.
Analytical tools can help us understand the market and identify lucrative opportunities or potential losses.
Also, it provides data to study price history, technical indicators, and in-depth statistics on crypto coins.
Reduce Risk
The crypto market is highly volatile and therefore highly risky, which makes many potential investors refrain from investing.
Now, effective analysis can help us manage that risk by offering features like stop-loss orders, a portfolio diversification strategy, and the calculation of returns.
Moreover, knowing when to hold, when to sell, and which crypto isn’t good for long-term growth can help immensely.
Maximize Profit
Crypto analysis apps aren’t just about avoiding losses but also about capitalizing on good profit opportunities.
Moreover, by identifying undervalued crypto coins, spotting emerging trends beforehand, and recognizing buying opportunities through technical analysis, we can make significant profits.
Continuous Learning
The crypto market is constantly evolving, which is why staying informed and up-to-date is important.
Crypto analysis apps encourage us to research, learn, and adapt to the ever-changing dynamics of the market.
Following crypto news and recent developments ensures that one is constantly up-to-date with the market.
Now, we are going to mention 5 crypto analysis tools that will help you to navigate through the crypto market:
Top 5 Crypto Analysis Tools
- CryptoReach
- CoinStats
- CoinMarketCap
- CoinGecko
- Crypto News
1. CryptoReach
CryptoReach is a crypto news provider app that collects news from over 20,000+ sources worldwide and is available on both the Play Store and App Store.
Additionally, it also shows whether a particular piece of news is positive, negative, or neutral through machine learning, which can help in bringing out a clear picture of news sentiment towards a crypto coin.
But what makes it different from other crypto analysis tools is that CryptoReach features a vast number of analytical parameters and an in-depth guide to knowing crypto coins inside out.
Analytical Features Provided by CryptoReach
- Popularity Index: Shows the total number of articles published on a particular crypto coin over a set period on a line graph.
- News Sentiment: This represents the total number and percentage of positive and negative news articles about a crypto coin published over a set period.
- Industry Factor: This includes indicators like news coverage, recent developments, and public sentiment to show the overall market condition.
- Technical Analysis: This involves studying patterns and indicators that lead to valuation changes for crypto coins.
- Coin Fundamental: Covers in-depth knowledge of cryptocurrencies like rank, category, top whales, dominant counties, active users, recent developments, future vision, and importantly the SWOT analysis.
2. CoinStats
CoinStats is a well-established crypto management platform with a good amount of features that will come in use even for advanced users.
The portfolio manager can track CeFi, DeFi, and NFTs on different wallets and exchanges.
There are over 20,000 crypto coins to select from and integration of 300+ exchanges and wallets.
Analytical Features Offered by CoinStats
- Fully Diluted Valuation: Refers to the total valuation of a crypto coin that is not only in circulation but also accounts for coins that could possibly enter circulation in the future.
- App Exclusive Holders: Shows how many percentage of CoinStats users out of total users are holding a particular crypto coin.
- Wallet or Exchange: Shows the percentage of users holding a particular crypto coin in either a crypto wallet or exchange.
- Polling: It offers a poll for every crypto coin with the option of ‘buy, sell, and hold’, which is a great way to know the sentiment of the users.
3. CoinMarketCap
One of the most established crypto news and tools apps, with over 10 million downloads on the Play Store alone.
It provides data on market capitalization, trading volume, circulating supply, and many more parameters of a particular crypto coin.
Along with the app, CoinMarketCap also provides nearly all the features on its website, which is quite convenient.
Analytical Features Offered by CoinMarketCap
- Whale Holdings: Here, crypto whale refers to wallet addresses that hold more than 1% of the supply of a particular crypto.
- Wallet Holdings: Shows the percentage of the amount held in USD based on wallet addresses.
- Time Held: wallet addresses that have been holding out tokens; traders are those who have been holding tokens for less than one month; and holders refer to those who have been holding tokens for more than one year.
- Average Transaction Fees: The transaction fee required to use the blockchain over the set period.
4. CoinGecko
CoinGecko is a resourceful crypto utility app that features tracking of over 10,000 crypto coins and over 3,000 NFT collections as well.
It also provides ranking data from over 700 crypto exchanges that provide data such as trust score, trading volume, trading pair data, and much more.
The app also features crypto news aggregation, portfolio management, and some basic analytical parameters.
Analytical features provided by CoinGecko
- Fully Diluted Valuation (FDV): This is the theoretical market capitalization of a crypto coin in the event that the entirety of its supply is in circulation.
- Max Supply: The maximum number of coins that existed in a crypto coin’s lifetime.
- Circulating Supply: The amount of a particular crypto coin circulating in the market that is tradeable by the public.
- All-Time High/Low: Shows the date and number of days since the specific crypto coin reached its all-time high or low value.
5. Crypto News
Crypto News is one more crypto news aggregator app on this list; it collects news from more than 300 sources.
The app features tracking of more than 1000 crypto coins and a portfolio manager as well.
Users can also monitor the performance of different crypto exchanges, and they can comment and give reactions to particular news.
Analytical features provided by CryptoNews
- All the basic parameters are provided in this, like market cap, circulating supply, and total/max supply.
- Users can also select time and date ranges from 1 hour to up to 1 year.
Conclusion
In the blog, we covered the top 5 cryptographic analyses, ranking them based on multiple factors, but most importantly, the number of analytical features offered.
All these analytical tools and parameters are just for guidance toward the path of the crypto world and its knowledge; they don’t guarantee huge profits but rather a way to make a profit and minimize losses.
Frequently Asked Questions
Q1: What are crypto analysis tools?
A1: Crypto analysis tools are mobile apps that are designed to help users analyze and track cryptocurrency movements. These apps provide real-time data, charts, and indicators to help users in making informed decisions about buying or selling cryptocurrencies.
Q2: Are crypto analysis tools available for free or at a cost?
A2: Many crypto analysis tools offer a basic version for free but also provide various premium packages with more advanced features and tools at a cost. Users can choose either option based on their needs and budget.
Q3: Can crypto analysis tools predict future prices accurately?
A3: While crypto analysis tools use algorithms and historical data to provide insights, it is important to note that they cannot always provide accurate predictions. Factors like market volatility and external factors can greatly impact cryptocurrency prices.
Q4: Are crypto analysis tools secure and trustworthy?
A4: Reputable crypto analysis tools have advanced security measures like encryption to protect user data and transactions. However, users should exercise caution when choosing and using these apps, ensuring they come from reputable sources and have positive user feedback.
Q5: Which are some other popular crypto analysis tools available?
A5: Some other popular crypto analysis tools include TradingView, CoinTracking, Blockfolio, CryptoCompare, and Delta. These apps offer a range of features, such as portfolio tracking, price alerts, market news, and detailed charts, to help users navigate the world of cryptocurrencies.
Hi, I’m Utkarsh Singh. I developed an interest in technology when I was around 9 years old, and since then I love learning about it every day and also sharing knowledge with everyone around me, which can make a difference in their lives. Smartphones and gaming laptops in particular attract me the most. Apart from technology, I play various sports, especially badminton, and I also like trying new food dishes.
Great article on crypto analysis tools! One suggestion I have for expanding your analysis toolkit is to consider integrating a crypto news API