In crypto, public blockchains are permissionless and every on-chain transaction is recorded and stored on the public ledger. This article will talk about several on-chain analytics tools in crypto readily accessible for you.
For instance, all the transactions on the Ethereum blockchain are all stored on the blockchain for everyone to see. Every swap and every NFT purchase can be tracked on-chain.
With that said, there’s no better place to get alphas than on the chain itself. Everyone wants to be an on-chain wizard but not many know where to start and what tools to use.
Without further ado, here are the top 5 tools that will turn you into an on-chain wizard:
1. Etherscan
Etherscan is a blockchain explorer for the Ethereum network. The website allows you to search through transactions, blocks, wallet addresses, smart contracts, and other on-chain data.
On the surface, Etherscan is just a block explorer that normies use to look at transactions. But deep down, Etherscan can be used for a variety of functions from making transactions to reading token data.
I think the best function of Etherscan is the ability to make transactions on it. It is easy to use and users can bypass buggy websites & crappy UI to interact directly with the smart contract.
Want to master Etherscan? Here Are 10 Ways To Master Etherscan And Discover The Next Crypto Alpha Before Everyone Else
2. Debank
Debank is an all-in-one cryptocurrency portfolio tracker designed to manage DeFi assets.
Debank allows users to track their full portfolio through various chains, compare interest rates, manage assets, find DeFi projects, analyze risks, and enable users to perform token swaps on token exchange.
The simple and user-friendly interface also makes it easy to track whale wallets and their activities. With a click on the button, you can see a detailed breakdown of their portfolio and holdings.
Read More: Crypto Scams Took 14 Billion USD In 2021 – How To Prevent Your Funds From Getting Stolen
3. Nansen
Nansen is a Singapore-based blockchain analytics platform that combines on-chain data with a massive database containing millions of wallet labels.
“Nansen is currently the best on-chain analytics tool available on the market. It is my go-to dataset when attempting to dissect on-chain movements and to the learned eye, contains plentiful bouts of alpha. Definitely a must-use for crypto professionals”
Wangarian – DeFiance Capital
Nansen comes with an endless list of features and dashboards. Token God Mode, Smart Money and Hot Contracts are some of the most popular features of Nansen.
The on-chain data platform just acquired Ape Board, one of the top portfolio tracker platform, for over US$10 million. It plans to incorporated it into its upcoming all-in-one super app.
Nansen just released a new lite version for free. Read more about it here: Crypto Analytics For Free: How To Use Nansen’s New Lite Version Of Its Analytics Platform
4. Dune Analytics
Dune Analytics is by far one of my favourite on-chain analytic tools. It is a powerful tool for blockchain research. It offers on-chain analytics dashboard for both technical and non-technical investors.
Dune gives you all the tools to query, extract, and visualize vast amounts of data from the blockchain, unlocking the power of public blockchain data by making it accessible to everyone.
The beauty of Dune is the flexibility it offers. There are thousands of different dashboards made by the community and some of the dashboards offer great insight into the on-chain activities.
5. Excel
Bet you’re not expecting to see Excel on this list but Excel is actually able to help with wallet tracking.
Basic Excel functions like VLOOKUP will help to make your life easier when scanning through thousands and thousands of transactions.
Rather than manually filtering, there is an in-built filter button on Excel that is also able to filter out all the unwanted or erroneous data.
Here is a more detailed step by step guide by StrategicHash on how to use excel for wallet tracking:
Closing thoughts
Mastering these 5 tools would definitely help you level up your game and give you an edge over the other crypto newbies.
And the best of all, all these tools are free! All you have to do is to set some time aside to master these tools and incorporate them into your due diligence process. If done correctly, you will be finding alphas before they are up on Twitter.
Anyway, we have a whole list of crypto tools on our website. You can check them out over here.
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: Chain Debrief
Also Read: Your First Step Into The Crypto World: Top 10 Free Crypto Tools
