5 DeFi Data Tools for Analyzing Crypto Projects

2 years ago

These tools volition assistance you analyse the fundamentals of DeFi protocols.

Cover art/illustration via CryptoSlate

While astir crypto novices absorption connected terms fluctuations and effort to clip trades, precocious investors recognize determination are dozens of metrics and information that are indispensable for gauging the wellness and semipermanent imaginable of DeFi projects. As the blockchain manufacture has matured, much tools person been developed for radical to analyse on-chain data.

Below are the apical 5 types of utile tools grouped by the class of information they tin assistance you understand.

Tools for Analyzing Tokens: CoinGecko & CoinMarketCap

CoinGecko was launched successful 2014 and is simply a almighty information investigation instrumentality focused connected blockchain data.

Key Features

(1) Track DeFi tokens. Tokens are listed by marketplace headdress by default, but users tin take different filters. Tokens tin beryllium compared by price, trading volume, marketplace cap, and different metrics.

(2) Beginner’s guide. CoinGecko provides a beginner’s guide, a glossary, and quality to assistance you recognize the dynamics of crypto.

(3) Visualization of token humanities data. Coingecko humanities information includes price, marketplace cap, and trading volume, which tin beryllium utilized to find the information show of tokens.

Top Features
(1) Powerful metric filtering options

(2) Data for implicit 12,500 tokens

(3) Numerous further features, e.g. NFT board, Beginner’s Guide, news, etc.

Tools to Analyze DeFi Revenue: Token Terminal

Token Terminal measures DeFi with accepted fiscal metrics, which makes it much accessible for those entering crypto from a accepted concern background.

Key Features

(1) Provides standardized metrics to comparison the strengths and weaknesses of DeFi projects.

(2) Users tin usage metrics to find the worth they tin get from investing successful a project. Such as P/S Ratio, P/E Ratio, and protocol revenue.

Reasons for Recommendation
(1) Perfect for users with a accepted fiscal inheritance to measure projects arsenic investments.
(2) Over 100 DeFi protocols included. There are much metrics and much options for information quantification.
(3) Data is updated quickly, with an update frequence of apical protocols astatine 4 hours.

Tools Used to Analyze DeFi TVL: DeFiLlama

DeFiLlama tracks the TVL of implicit 800 DeFi protocols. It tin beryllium viewed by DEX, Lending, Yield, and different categories. The circumstantial ranking labels are 1d Change, 7d Change, 1m Change, TVL, and MarketCap/TVL.

Reasons for Recommendation
(1) Track much protocols and categorize them, which is the existent archetypal prime for viewing DeFi TVL.

(2) Open the DeFiLlama NFT conception to conscionable the dual needs of DeFi and NFT with 1 tool.

All-in-one Analysis Tools: Dune Analytics & Footprint Analytics

Dune Analytics and Footprint Analytics are akin successful function, some providing all-in-one investigation to visualize data.

For beginners, Footprint is recommended, arsenic it requires zero coding nor SQL skills.
For idiosyncratic with a coding background, Dune is recommended. Dune uses SQL to analyse real-time earthy data.

The Main Differences Between Footprint & Dune

Dune Analytics has been astir for 4 years and has information queries for 5 chains. It closed a $69.42 cardinal Series B circular successful February 2022.

Reasons for Recommendation

(1) Customization. Query aggregate databases with SQL, visualize the results and research much information investigation for DeFi protocols.
(2) Community sharing. By default, each queries and datasets are public, and users tin straight transcript others’ Dashboard and usage it arsenic a reference. dune besides encourages the publication of queries.

Although Dune is powerful, it is not casual to maestro due to the fact that of the SQL.

Footprint Analytics provides an easy-to-use information analytics service. It closed a $1.5 cardinal effect circular led by IOSG Ventures successful January 2022.

Reasons for Recommendation
(1) Zero coding is required. Footprint gives users a elemental drag-and-drop interface.
(2) One-click bifurcation query. Currently supports 18 information chains for query and 4 chains for drill-down extent analysis.
(3) Simple and casual to analyse data, shield underlying cumbersome and difficult-to-understand earthy data.

Tools for Track and Target Whales: Nansen & Glassnode

Nansen was created successful 2019 to supply information investigation of on-chain wallet transactions. Even arsenic an all-pay service, it remains precise popular. The cumulative backing of implicit $80 cardinal successful little than six months betwixt the Series A and B rounds is grounds of this.

Key Features

（1）Nansen’s astir salient diagnostic is “smart money”, which tags implicit 50 cardinal Ethereum wallet addresses. Users tin besides way Whale accounts.
（2）The Token God Mode diagnostic tin parse ERC-20 tokens successful each aspects.

Reasons for Recommendation

The wallet code investigation is precise powerful. It tin way whales fast, which is perfect for investors who travel whales

Glassnode is different enactment for tracking whales. Unlike Nasen, which focuses solely connected wallet code analysis, Glassnode offers a assortment of information investigation services.

Key Features

（1）Track whales. Help users way and travel whales for investment.

（2）Glassnode alerts. Tracks the dynamics of ERC20s on-chain metrics.

（3）Weekly reports. Help to recognize the cryptocurrency market.

In presumption of versatility, Glassnode focuses much connected wide marketplace probe and provides a richer root of data.

Summary

Compared to accepted finance, the cryptocurrency marketplace is comparatively unfastened successful presumption of the magnitude of information that tin beryllium accessed by anybody. Only by analyzing the underlying information tin you measure a DeFi task and, for that, you request the close tools.

Date & Author: Feb 29th, 2022, by Grace astatine Footprint analytics.

What is Footprint Analytics?

Footprint Analytics is an all-in-one investigation level to visualize blockchain information and observe insights. It cleans and integrates on-chain information truthful users of immoderate acquisition level tin rapidly commencement researching tokens, projects, and protocols. With implicit a 1000 dashboard templates positive a drag-and-drop interface, anyone tin physique their ain customized charts successful minutes. Uncover blockchain information and put smarter with Footprint.