10 Best Crypto Research Tools You Must Have as an Investor
Cryptocurrency has taken the world by storm, with over 21,000 cryptocurrencies currently listed on CoinMarketCap. This has sparked the interest of beginner investors to join the industry. Being that it’s a popular investment today, especially among younger investors, fear of missing out makes it tempting to jump into the crypto world without sufficient knowledge.
Investing in cryptocurrency is a risky venture under any circumstances, and it’s especially so if you have no idea how to research and analyze cryptos. But with the right crypto research tools, you can gather the information you need to make an informed investment decision.
10 Must-Have Crypto Research Tools for Beginner Investors
Whether you’re a beginner or you’ve been a crypto investor for years, crypto research tools can help reduce your risk and increase your chances of staying ahead of the game. Here are 10 of the best research tools that you can use to refine your research before investing in cryptocurrency.
Messari is a cryptocurrency data aggregator with loads of helpful tools to analyze charts, allowing you to make better trading decisions. It has a screener with a variety of filters, such as sector, price and market cap, you can use to customize your research on various coins.
You can use Messari for free. But if you want to get the most out of this crypto research tool, you can upgrade to Messari Pro for $24.99 a month paid annually, or $29.00 a month with no minimum subscription. The Pro membership includes daily insights and long-form research, plus advanced screening, charting and watchlist features. Pro also lets you download data to a spreadsheet.
Glassnode is an on-chain data and intelligence platform, which means it gathers data from a number of different blockchains to accurately measure crypto network activity, and then it uses that data to report metrics and insights to investors. You can use Glassnode to explore market indicators for any coin and view the number of active addresses with successful transactions. The platform also provides price data and lets you set alerts and download data.
Glassnode offers free access to “Tier 1” data that’s updated every 24 hours. Paid subscriptions are $29 per month and $799 per month, both paid annually, and provide additional tiers of data and more frequently updated information.
LunarCrush is a social intelligence platform that analyzes data from social networks to gauge not just market activity and transaction data, but investor sentiment as well. To understand the influence of sentiment on crypto, one need only look at how the mere mention of bitcoin and dogecoin by social influencers triggered enormous price swings over the past year. LunarCrush provides real-time insight into who those influencers are and lets you track the influencers, coins and exchanges that interest you most.
LunarCrush reserves the most comprehensive platform features, data and rewards to those who contribute to the community. These contributions earn you lunr — the platform’s token — you can use to unlock those perks.
4. Coin Metrics
Coin Metrics is a provider of cryptocurrency financial intelligence, market data, index, network data and other analysis tools to help you make informed crypto decisions. The platform lets you access over 100 assets and 400+ metrics, including novel ones like free float supply and realized cap.
Once you’ve added metrics to your chart using Coin Metrics’ network data visualization tool, you can download it in different extensions.
Coin Metrics doesn’t list prices on its website. You’ll have to fill out a contact request to get pricing information and find out how to get the API key needed to access Pro metrics.
Santiment is another crypto research tool that deserves a close look. Like Glassnode, Santiment provides on-chain, social media and financial data on almost 2,000 cryptocurrencies, helping you predict the price movement of any crypto.
The platform also offers fundamental insights and behavioral reports so you can stay ahead of imminent developments. What’s more, you can set up alerts on Santiment to get updates whenever a coin you’re watching gets a surge in social volume.
Retail crypto investors, including beginners, can get a feel for the market with essential metrics from the flagship platform for $44 a month, billed annually. SanAPI accounts for developers and quants cost $149 a month, billed annually, and provides additional metrics and historical information, plus the ability to backtest strategies, build trading signals and develop trading bots.
You’ve probably heard of CoinMarketCap, but you may not be familiar with CoinGecko. CoinGecko is one of the largest data aggregators that tracks cryptocurrency prices by market cap. You can view live price changes for over 12,000 coins and over 500 crypto exchanges.
Apart from tracking and measuring coins and tokens by market cap and exchanges by trading volume, the platform provides an in-depth analysis of the crypto market. CoinGecko also provides community stats for Facebook, Twitter, Reddit and more.
There are many other useful features you can capitalize on at no charge to get a broad overview of a particular cryptocurrency with CoinGecko. Premium accounts are $41.66 per month, billed annually, and include an ad-free experience and advanced features.
The crypto industry is a buzzing economy, bringing about tons of market events that might affect price movements. This makes it impossible to keep tabs on events from the crypto world if you don’t use crypto research tools like CoinMarketCal.
CoinMarketCal is a cryptocurrency calendar that updates you about all upcoming events involving coins. The platform incorporates evidence-based and community-driven frameworks, letting people add crypto events, which later undergo verification. Real events get upvotes, while those that seem fake get downvotes.
If you’re interested in certain events that you think will likely impact a specific crypto price, for example, simply search the coin on the platform. With a few clicks, you’ll see all the listed events for the selected period.
8. Coin Dance
Coin Dance is a heavy-data bitcoin research tool you may want to check out. The platform tracks all sorts of metrics, including harsh rates, network nodes, fees, block sizes and mining breakdowns. You can also sort data by country to see how crypto adoption is going globally.
With Coin Dance, you can also see other top-level stats covering blockchain, price history, search volume, market capitalizations, demographics and more. The platform is community-driven, meaning users can vote the validity of the information provided by the community.
Investing in cryptocurrencies without checking the development of a particular coin is probably a bad idea — you could be investing in a dead project. Since cryptocurrencies are software protocols, they can eventually die if not developed, maintained and improved.
Therefore, keeping tabs on the development of particular crypto projects is vital. It’s pretty easy to track them on Github, but you can’t track all the cryptocurrencies one by one; that’s why you need a crypto research tool like CryptoMiso.
CryptoMiso ranks cryptocurrencies based on activity on Github. You can check the number of commits an individual crypto project has done within a certain period based on the most popular repository. For example, as of this writing, bitcoin ranked the seventh most valuable cryptocurrency in terms of platform development.
10. Skew/Coinbase Prime
If you’re interested in cryptos and derivatives, skewAnalytics might be a perfect fit. It’s a data analytics tool that combines information from top derivative exchanges like Bybit, OKEx, Binance and FTX on a single screen. The platform has a ton of interesting data that you can get value from.
Coinbase acquired Skew last year and made it part of Coinbase Prime. Coinbase Prime gives you secure storage, advanced trading capabilities and client services in a variety of time zones.
As of September 25, Skew will no longer be available. However, Skew users can create a Coinbase Prime account for free.
Crypto research tools are important for any investor. Before putting your money into a particular cryptocurrency project, familiarize yourself with one or two tools. These tools will give you insight into the price movements for any crypto project.
Good To Know
Using crypto research tools doesn’t guarantee profits. Instead, the tools are meant to help you make informed investing decisions.
While using any of these tools for the first time can be overwhelming, once you get the hang of it, you’ll be able to make the most informed investment decisions you can.
Daria Uhlig contributed to the reporting for this article.
Information is accurate as of Sept. 23, 2022.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.