Best Crypto Tools for Analysis and Trading

As the crypto market evolves and its opportunities expand, it becomes impossible to keep track of everything. That’s where crypto tools can help you analyze price fluctuations, find new trading opportunities and manage your portfolio effectively. Regardless of your level of experience, the right cryptocurrency analysis tools can be useful for all market participants. 

In this article, we take a look at the best crypto tools for analyzing and trading cryptocurrencies in 2024. Get ready to bookmark these sites, because there really will be a lot of them!

Importance of Using Crypto Analysis and Trading Tools

Whether you are trading or investing, cryptocurrency is all about understanding market conditions and trends along with in-depth analysis. In an ever-expanding market, where hundreds of new projects are launched every month and thousands of cryptocurrencies have already been added to aggregator sites, it is essential to use additional tools to facilitate analysis and trading in order to stay efficient. With the help of services, you can study the history of price fluctuations, technical analysis indicators, tokenomics, as well as quickly find smart contract addresses and links to projects’ social networks.

Quick access to all the information you need will help you improve your strategy, minimize risk and ensure more accurate forecasting of results.

Top Cryptocurrency Analysis Tools

Crypto enthusiasts use different crypto analysis tools depending on their goals and activities. But there are cryptocurrency analysis tools that are considered a must. They are used by the absolute majority and these crypto tools are benchmarks in their segments. Let’s explore them!

Cryptocurrency Market Analysis Tools

CoinMarketCap 

It is an aggregator of information on most cryptocurrencies with over 80 million monthly visitors. It allows you to track market capitalisation, price history, trading volumes, bitcoin dominance and other key metrics. Over 9,000 coins have now been added to CoinMarketCap and detailed data is provided for each coin. This information allows you to do in-depth research and make informed investment decisions. CoinMarketCap is used by both beginners and experienced traders as it helps to quickly get information about projects and general market dynamics.

CoinGecko 

It is an analogue of CoinMarketCap, which is visited by more than 22 million people every month. The service is also a cryptocurrency analysis platform with detailed information on each project, trading volumes, liquidity and social sentiment. Price and market dynamics on the service can be tracked in real time.

In addition, CoinGecko can study projects’ activity on social networks, trust ratings and other metrics.

Crypto Technical Analysis Tools

TradingView 

It is one of the best crypto trading tools for market analysis and charting with over 200 million monthly visitors. The tool is a must-have for all traders as it offers a wide range of technical analysis indicators, the ability to use candlestick charts, trend lines and statistical tools that can be used to predict the price of asset movements. The platform has a well-developed community where traders can share their charts and ideas, which leads to active discussions on various ideas and can be a useful learning tool for less experienced traders.

Messari 

Another tool that offers a lot of analytical information, with a monthly traffic of more than 450 thousand people. The platform offers extensive data and analytical reports on various crypto assets and market segments. Messari provides information on tokenomics projects, market trends, project updates and metrics for in-depth analysis. 

Statistical Analysis Tools for Crypto

Glassnode

A platform with over 370,000 monthly visitors that provides detailed analysis and statistics on blockchain networks. The tool is useful for researching transaction volumes, investor behavior and other metrics of various blockchains. You can view data on long-term and short-term coin holdings, as well as predict future price fluctuations to plan your actions based on the information.

IntoTheBlock 

An analytics platform with 150,000 thousand monthly visitors that uses artificial intelligence to provide forecasts and key project metrics. The platform analyzes large volumes of data and can provide users with insights to make trading decisions. The service can examine transaction details, wallet analysis and various historical data. All this makes IntoTheBlock an important analytical tool for a large number of traders and investors.

Crypto Tax Tools

CoinTracking 

A tool used by more than 800,000 people every month. The platform allows merchants to keep records of their transactions and also generate reports for tax authorities. The service supports automatic integration with popular exchanges and wallets, making it easier to collect information on transactions and subsequently calculate taxes. The tool is also suitable for investors who want to keep track of their transactions and file tax returns. It is easy to use and its intuitive interface makes it suitable for both beginners and professionals.

Koinly 

A service that tracks and automatically calculates taxes on cryptocurrency income. The site is visited by more than 1.1 million people every month. Its users can aggregate their data from different cryptocurrency exchanges and wallets and generate tax reports according to the requirements of different countries. The tool will be particularly useful for traders and investors whose assets are spread across multiple exchanges and wallets.

Crypto Charting Tools

CryptoCompare 

As the name suggests, the platform allows you to compare the prices of different cryptocurrencies. The platform is visited by more than 1 million people every month. Users can track price changes and the emergence of new trends in the market by analyzing charts and analytical data provided by the platform. It also offers reviews of new altcoins and an assessment of their potential. Such a tool will be a great addition to your own research.

Coinigy 

A tool for charting and managing your own investment portfolio with over 150,000 monthly visitors. Coinigy supports integration with popular crypto exchanges and allows you to unite all exchanges in a single dashboard. Traders can also create their own trading strategies and use technical analysis tools provided by the platform itself.

How to Choose the Right Crypto Tools for Your Strategy

The tools you choose will largely depend on your strategy and trading style. If you are new to the market, you should not try everything at once. You can limit yourself to a basic set of analysis and charting tools, such as CoinMarketCap, TradingView and Koinly. 

If you are a more experienced trader, we recommend that you try some of the newer tools you have read about in this article to familiarize yourself with their functionality and to understand which of them can better facilitate your work. 

In general, tools with a large number of metrics and extensive functionality allow you to create more complex price analysis charts and go deeper into project analysis. Using them can improve the quality of your analysis and the accuracy of your forecasts.

To better understand which tools to choose and test, you first need to define your goals. If you are a long-term investor, you will need tools that provide high-quality analytical reports, such as Messari, as well as tools for your own research, such as CoinMarketCap. Using both in-house and third-party analytics will help you improve your research projects and make better investment decisions.

And if you are a short-term trader, you can use the technical tools available in TradingView and IntoTheBlock. 

When researching services, compare functionality and interface. It is important that the site is easy to use and that the interface does not cause rejection. Often it is the personalized configuration of widgets, graphs and other tools that can deliver the desired result. 

If you are planning to use analytics services, it is worth comparing the quality of analytics between different sites. Often these services are paid for, but it is often possible to test the functionality and get by with a free trial period, which most platforms offer. Analytics should be trustworthy and you should not have any questions or unanswered questions after reading them.

If you plan to use exchange information aggregators such as Koinly or CoinTracking, make sure that the exchanges you trade on are available in these services to ensure complete transfer of information without manual intervention.

When choosing tools, don’t be afraid to experiment. All your experiments will eventually lead you to the tools that suit you personally, that are effective for trading, research or investing, that will increase your productivity and allow you to get the forecasts and analysis you need much faster. Good luck with your experiments!

For more insights and updates on the crypto world, don’t forget to check out our blog at Listing.Help