Recommended crypto tools

The crypto market moves at breakneck speed. Wherever you look, you see a new name, a new project that catches your interest. By the end of the day you have a mental list of ten cryptocurrencies (and that’s a low estimate) you want to research. But how will you do your research? How will you land on the next cryptocurrency that brings you that coveted 100x?

Because here at cryptonomy we believe in the power of doing your own research (DYOR, after all), we’ll show you the crypto tools that we, here at cryptonomy, use to anticipate the next surprises (pleasant or unpleasant), or developments in the crypto space. We hand you these tools so that you can stand on your own two feet and not depend on every random passerby, and find the next hidden gems on your own.

The list below is not in any order of priority.

1. LunarCrush

For most of us, the main sources of news about the crypto world are Reddit, Telegram, YouTube, Facebook, Medium, Twitter and so on. We spend endless hours searching for the next Safemoon, the next Shiba... that will bring us huge gains.

How many times have you bought into a moonshot coin, only to realize you were the last one to hear about it, so the price sank to Hades the moment you put your hard-earned cash in?

The best thing would be a tool that gives you the pulse of every cryptocurrency so you can time your entry into the market perfectly, right?

So let us introduce LunarCrush.

Behind the scenes, LunarCrush uses an algorithm built on artificial intelligence and machine learning. The LunarCrush algorithm collects, organizes and processes information gathered from all the social media platforms for (almost) every cryptocurrency, and interprets it with statistical models.

The LunarCrush algorithm monitors, collects and evaluates variables such as how much a coin is discussed on Twitter and Reddit, how popular the cryptocurrency’s page is across all platforms (e.g. Medium), how often it is mentioned in the news, social engagement, its Google search volume, and many other indicators. All these variables from all these sources are collected and presented to the user through a range of charts.

With a few clicks, LunarCrush gives the user an overall view of public sentiment for each cryptocurrency.

The second rating method LunarCrush uses is AltRank. AltRank is for those of you who want to grow your Bitcoin holdings over time. The algorithm combines the altcoin’s price performance relative to Bitcoin’s.

AltRank also monitors and records various social activity indicators across all altcoins. This combined metric aims to give a broader picture of an altcoin’s performance compared with the other altcoins, in terms of maximum return in Bitcoin.

What we like about LunarCrush is that it is completely free. All you need is to sign up to unlock all its features. LunarCrush also lets you create your own portfolio so you can closely track the cryptocurrencies you like.

2. Messari

For those of you with an analytical mind who like to make decisions based on numerical data, we recommend Messari. Messari is a platform with every kind of numerical data.

In short, we’d say it is a big, very big, enormous database

This tool lets the user see which cryptocurrency is the most popular, discover new cryptocurrencies, and evaluate them based on variables they set themselves. In general, the platform offers endless ways to make use of each cryptocurrency’s data.

Perhaps the most useful tool for us is the Messari Screener, which shows the user every kind of data, such as liquid market cap, stock-to-flow, blockchain data, media data, and much, much more. The list could go on until my laptop battery runs out. We suggest you go take a look at it.

Another useful feature of Messari is that it lets the user sort cryptocurrencies by the category they belong to. This comes in handy when you want, for example, to find all the cryptocurrencies that support smart contracts, or coins that come from yield farming. It also lets you see the portfolios of big companies such as Alameda, Coinbase and others.

We really could write for days about the huge amount of data on this website, and for just as many days about the ways it lets the user put that data to use.

The downside of Messari is that it isn’t completely free. The free version offers the basic features and data, which we think are more than enough. But if you feel you want something extra, you’ll need to sign up for the PRO version. The PRO version costs $24.99, and we think it is a good buy if you really need more tools for your research. For someone new to the space, we wouldn’t recommend the PRO version.

3. Glassnode

Glassnode is the only tool you need when it comes to market indicators for your favorite projects.

How many new Bitcoin wallets were opened in the last month? How many of them are active? Are you curious to see how many wallets are in profit right now, and what they hold?

There is a wide range of data to analyze, such as new wallets, the number of active wallets, amounts flowing into and out of wallets, coin holdings and so on.

All of this helps you build a better macro picture of the current state of the crypto markets.

On Glassnode you can see various statistics such as Exchange Inflow Volume, Exchange Deposits, Exchange Withdrawals, and lots of other data.

Glassnode is free with limited features. But if you want to unlock all its features, you’ll have to pay extra.

The PRO plan comes at a hefty $800. But to be realistic, we don’t think this package is meant for the ordinary retail investor; we recommend the free version or the basic one.

4. Santiment

This tool is for all you crypto traders out there. It combines key on-chain data for more than 900 cryptocurrencies and serves it up in a pleasant, easy-to-browse interface.

One use case is helping you spot exit opportunities by identifying big spikes in social activity. If everyone is getting excited about a coin, shouldn’t you get out? Counterintuitive... but yes, you should get out.

You can get alerts straight to your phone if there’s a huge jump in social activity. We find this quite useful for seeing when price corrections are coming and taking action accordingly.

Santiment also provides educational material for those of you who want to learn a bit more and practice your chart-reading skills.

Santiment offers the basic features in its free version. Then again, if you want to unlock all its features, you’ll have to pay for the basic version (Sanbase) or the advanced version (SanAPI), which also provides an API so you can work with the data yourself.

5. Coingecko

We think the next website needs no special introduction. We believe you all know what we mean when we talk about CoinGecko. Want a quick overview of the market, or just a summary of the information on a cryptocurrency? CoinGecko offers all that and more.

On CoinGecko you can find all kinds of information: each cryptocurrency’s social media channels, contract address* and website, its ranking, the coin’s social sentiment, plus data from TradingView’s APIs, which provide a rough analysis of whether it’s a good time to enter the market.

Each cryptocurrency also has a simple user rating. The truth is that we don’t fully trust it, but it’s enough for a quick screening. Other information available includes which platforms sell the cryptocurrency, a short price analysis, and a brief summary of what the cryptocurrency is.

We think it is the right tool to start your research before you dive into the deep end. If you haven’t seen it, we recommend you visit it.

* We recommend that you don’t use the contract address from CoinGecko, because of the risk of CoinGecko being hacked and contract addresses being altered. Contract addresses should be taken ONLY from each coin’s official platforms.

6. Cryptopanic

Good news, bad news and fake news flood the internet. Filtering and verifying information about your cryptocurrency is quite a painful process. Countless times we’ve found ourselves with endless tabs open, lost in information overload. Often reading conflicting information... so what’s true?

CryptoPanic is our recommended news website. The CryptoPanic algorithm scours the internet and brings the most reliable news from across the web to your screen. What we like is that it filters out fake news, so we can rest easy.

On the CryptoPanic website, the news is sorted by cryptocurrency, which makes browsing the site easier. The platform also lets you leave comments, rate articles, create or take part in polls, and much more.

The truth is that their portal is a bit retro and might scare you off, but over time you’ll find yourself coming back to it.

7. Coinmarketcal

“Buy the rumor, sell the news,” as the saying goes. Knowing about the big events coming up for a cryptocurrency can give you an edge in predicting its price. So the obvious question is: how do you find out about each cryptocurrency’s upcoming events? We have the answer for you: coinmarketcal

Let’s say you want to know which events could affect the price of Polkadot (DOT). You can search for the cryptocurrency on CoinMarketCal and see a list of upcoming events based on the coin’s roadmap.

With a few clicks we can see that in the near future DOT will integrate the ERC/BSC908 protocols into its code. We also see that Polkadot will partner with Orion. A quick search and you can find a wealth of upcoming scheduled events.

The announcements are updated by the community: any user can post any information they come across, and the other users vote on how reliable the news is.

So a great website for keeping up with the future and progress of your favorite cryptocurrencies is, without a doubt, CoinMarketCal.

8. Cryptomiso

It’s no secret that all crypto projects post their code on GitHub. But how many of you know how to read code? And how many of you can tell how active each cryptocurrency’s developers are?

CryptoMiso lets you see how active each cryptocurrency’s developers are. The site helps you track how active code development is and judge whether a project has run its course or is ready for its big upgrade and a launch to the moon.

CryptoMiso lets you compare the development of multiple cryptocurrencies, and also compare your coin’s price against how active its code development is.

9. CoinDance

If you’re interested in macro crypto data such as hash rate, fees, mining analysis and more, then you may want to check out this tool. A standout feature is its country-by-country analysis of LocalBitcoins. Here you can get an indication of how Bitcoin adoption is developing in remote parts of the world.

CoinDance also has a Resources tab with educational articles about Bitcoin. Obviously they aren’t as well written as the ones we write here at Cryptonomy 😊

But knowledge is meant to be shared, so we’re giving you this educational resource so you can stand on your own two feet... with love from us!