The use of analytical tools in the crypto market is becoming increasingly important, as data analysis can make the difference between profit and loss. These tools help traders make informed decisions and reduce the risk of losses by providing accurate information and helping to spot opportunities. They are particularly useful for newbies in the market who are seeking accurate information on projects, experienced investors looking for detailed insight into specific sectors, and traders who need accurate data for good trades. These tools also contribute to increased transparency in the crypto industry, eliminating the ability to “fake it to make it.”
The article then goes on to list several analytical tools. DeFiLlama is a project that provides data on a project’s Total Value Locked (TVL) and tracks more than 2,000 protocols and 100 blockchains. Token Terminal allows investors to compare the financial metrics of different crypto projects, while Stable.Fish is an APY and ROI aggregator that tracks the real APY of stablecoins in DeFi. Dune Analytics offers a wide range of well-presented data for research and analysis, and CryptoQuant provides visuals on various aspects of the blockchain market. These tools can be used to improve analysis and decision-making in the market.
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