When you are investing in and trading cryptocurrencies you need all of the information you can get in order to make the best possible decisions to earn profit. Luckily for you there are various analysis tools designed to help you better understand what is happening in the cryptocurrency markets and the drivers of market fluctuations. Although CoinMarketCap has been the industry leader of cryptocurrency monitoring tools, there are various other new cryptocurrency analysis tools available.
Blockchair is a cryptocurrency analysis tool that allows users to search essential data pertaining to the blockchains of various cryptocurrencies, such as BTC, ETH and BCH. Some of the data points you can search are fees, mempool size, difficulty and number of nodes. One of the most interesting things that Blockchair does is allow users to search for phrases and words that have been encoded in a cryptocurrency blockchain. Blockchair has also expanded its ability by keep track of Tether transactions and watching activity taking place in the Bitcoin Cash market.
Most people who are seriously trading cryptocurrencies are already aware of OnChainFX, a site known for enabling users to measure various cryptocurrency asset metrics. This allows traders and investors to compare different cryptocurrencies through the lens of relevant metrics in order to make better trading decisions. The site also keeps tabs on the effect monetary policy has on the cryptocurrency markets. OnChainFX has recently added some new incredibly useful features including the ability markup charts with fundamental events to help users better comprehend why a specific cryptocurrency may have fallen or increased in value.
3. Satoshi Pulse
If you are looking for something similar to CoinMarketCap but with improved design and usability, then you may want to consider taking a look at Satoshi Pulse. The charts are designed to enable a simple and clean view of cryptocurrency market movements. Satoshi Pulse is a little more slanted towards Bitcoin Cash but you can still monitor all of the important cryptocurrency markets, such as BTC and ETH and many others.
4. NFT MarketCap
Non-fungible tokens are quickly becoming more important in the world of cryptocurrency markets. NFT MarketCap is a market analysis tool which focuses on non-fungible token markets in similar ways that CoinMarketCap works for BTC and other more traditional cryptocurrencies. NFT MarketCap allows users to track and trade all types of non-fungible tokens, such as Cryptokitties and Decentraland.
Blockmodo is another cryptocurrency analysis tool that is similar to CoinMarketCap, however the site adds its own twist on the concept. This new analysis tool provides metrics on all of the major cryptocurrency markets as expected, however it also enables video, community data and social media features. The “community” section of Blockmodo is essentially an internet forum which allows users to ask questions and make comments while receiving feedback from the community of investors and traders.
Now with so many new choices to monitor cryptocurrencies many are saying the potential to profit from trading and investing in cryptocurrencies is better than ever. On the other hand, those looking to put money into the cryptocurrency market should realize there are potential risks involved in doing so. However, with the right data monitoring tools, one’s chances of being profitable are greatly enhanced.
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