Everyone Is An Analyst: Recommend 7 Free On-chain Data Analysis Tools
If you don’t want to pay a monthly fee for Glassnode and you need to observe the data on the chain, here you can use the 7 free on-chain crypto analysis tools listed below for research and analysis of cryptocurrencies. But it does not constitute investment advice.
The Block has many useful metrics, such as on-chain transaction volume, active/new addresses, miner revenue, average transaction fees, and Bitcoin supply as a percentage of profit.
Their data goes back many years. You can even access current data – however, there will be a 2-day delay. Still enough to get an idea of the general trend.
Sign up for a free basic account to access a large number of indicators on CryptoQuant. You can access data, including the current day. They also provide simple visualizations on the summary page.
There are many useful indicators, such as foreign exchange reserves, short and long-term holders SOPR, net unrealized profit and loss (NUPL), etc. The downside is that many charts only show data from the end of 2019, so you can’t compare data presented to an earlier time.
OKLink offers a range of free metrics, including exchange addresses in/out/netflow for BTC and various stablecoins. Some data lags by a few days. The workaround is to select the option “7D” (displays 7 days of data) that includes the current data.
Rdata is a project still in development. They promise to “make institutional-grade cryptoasset data freely available to all.” You need to be logged in with your MetaMask account to view the dashboard.
As they are still under development, currently, only 8 indicators are available. I think their visualization of address supply distribution is a good indicator of how crypto whales are accumulating and unloading their tokens. You should also look at the charts of Bitcoin exchange net position changes and futures perpetual funding rates. Since they plan to add more free indicators to their list in the future, I highly recommend checking it out.
Dune is a platform that allows users to query on-chain data from the Ethereum blockchain using SQL according to their needs. Knowledge of SQL is required to create your own personalized dashboards.
However, on their homepage, there are many free dashboards posted by community members.
Messari is actually a paid encrypted data platform. But still decided to add them to this list because they allow free access to some of their data and research reports, and they cover a lot of different cryptocurrencies, which you can easily find information about on this platform.
Some characteristic indicators of on-chain data can be found through several websites in the above list. In this case, compare the data to see if there are some warning changes that need attention. In any case, observation through on-chain data is a good way to analyze user and investor behavior. But it should always be kept in mind that data can only provide insight into what happened in the past, and relying solely on on-chain data to make investment and trading decisions is not advisable.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu