Crypto markets showed fluctuations, ups, downs, and sideway movements. With pips, candles, and SMA’s as well as EMA’s that were present to make certain decisions. We had tools used from the traditional trading markets sphere, but a slight difference is present in the case of cryptocurrencies. Although the data, transactions, and payments are openly available, there is less chance for a complete and proper interpretation in this respect.
Therefore, to make a comprehensive analysis and tool based on data assimilation, long and short positions as well as the legit transactions of the crypto projects, all are present to make a sound judgment and a decision. CryptoQuant was created in this respect to provide useful tools and analysis matrices to make price movement predictions easier. The role of CryptoQuant is to help traders refine their market predictions regarding any pair and on-chain data matrices.
To make it simpler and easier to understand, CryptoQuant is a modern-day database or data repository that has developed tools for traders to make certain decisions regarding the volatile crypto market and how they can mitigate their risks. CryptoQuant helps you make fine trading strategies while helping you out in optimizing your returns. We will look into how the CryptoQuant database and tools work.
What is CryptoQuant and how to use it?
In simpler terms, CryptoQuant is a database and a repository to help you gain insight into the market dynamics. To ascertain the risks associated and how market data as well as on-chain data is useful to make short as well as long-term indicator analyses, many traders now use this tool to take positions. CryptoQuant is agile and provides a list of comprehensive tools as well as indicators related to Bitcoin, Ethereum, and ERC 20 tokens list.
Additionally, on-chain data such as extracting transactions from public ledgers and records. This raw form of data is used in a way to derive meaningful information from it and define trends as per time and dates. It also highlights the details of the activities done by miners. Alongside, it filters projects such as the scam projects listed and which one to not rely upon.
CryptoQuant is one of the biggest repositories linked with on-chain data. It provides a set of comprehensive tools that are now designed to make decisions related to meek and aggressive trading. Once data is on-chain, there is little room left for staying secretive because all the data is present and is monitored.
Therefore, the element of transparency is also incorporated into the system. Whether it is on chain data or OTC (over the counter) Brokers, stablecoins whales, or institutional investors all data is visible and can help us point out where the market faced artificial pumps and dumps and when the market and price would be at the ideal position for selling and buying.
How to use CryptoQuant?
As sophisticated or complex data may seem, CryptoQuant has made the data and its assimilation easier to understand and grasp. Not only would you make robust trading strategies but can overview the legitimacy of transactions that are taking place. As market prices of digital assets are easily manipulated,
in the case of CryptoQuant, you can assess the real valuation of any blockchain network. As data is available in a ready-to-use format, there are stark chances of interpreting them quickly. CryptoQuant platform is extremely easy to use and provides a wide range of options and real-time data from all different exchanges and blockchains. CryptoQuant has the following parameters to gauge and assess data as per our market foresight.
You can have an overview or summary of the market and provide detailed charts to make assessments and predictions. Under the summary option, you can check the data analysis, price, statistics, information, and trending articles. In the charts section, you can hover on and see options to check out the metrics such as Flow Indicator, Miner Flow, and many other chart viewing options. One of the amazing and basic features is Exchange Flow which denotes how many transactions and crypto are being transferred in wallets.
The more funds are added in exchanges from wallets, there is more selling pressure visible and vice versa. You can also get access to pro chart features, the same as Trading View. Alongside you can have access to alerts that notify you of any sharp movements happening in the market, unusual from the ordinary market price change.
Top CryptoQuant Alternative 2023
CryptoQuant is the pioneer of blockchain and on-chain analytics assessment. But due to its pricing and limited access to a free plan, there are lots of features that the traders might miss. You can have a list of blockchain and on-chain analytics tools. Many come with agility, more features, and AML compliance. Some of them are listed below that can give you an insight into how you can use these as an alternative to CryptoQuant.
- Crystal Blockchain
- Glassnode
- Barnimages
- Footprint Analytics
- Troy
- Amberdata
- DEXterlab
- TokenAnalyst
- Zeroblocks
- Unmarshal
- KYC-Chain
- Merkle Science
- Chainbeat
- Nansen.ai
- Elliptic
- Blocktivity
- Coinbase Analytics
- OKLink
- OracleofDe.fi
- Uppsala Security
- Dtools
- Breadcrumbs
- Bird
- Confirm
- Coin Metrics
- Cipher Trace
- TRM Labs
- Elementus
- Inca Digital
- SlowMist
- Scorechain
- Coinpath
- AnChain.AI
- PARSIQ
- BlcoMonitor
- Gauntlet
- Goldsky
- ViewBase
- Chainalysis
- Bitquery
- Solidus Labs
- Crypto Smartlife
- Acuant
- sofoChain
- Nomics
- TIBCO Cloud AuditSafe
- QLUE
- Bloxy
- Cryptowerk HORIZON
- Covalent
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