Research is an integral part of any trading activity, which explains why many Wall Street firms are always ready to spend millions of dollars on tools like the Bloomberg Terminal. The same is true for crypto traders who use a combination of free and premium tools to do their research. In this article, we will look at some of the best crypto trading research tools.

Dune Analytics

Dune Analytics is a fast-growing company that helps traders and investors conduct analysis on cryptocurrencies and other industries like NFT and decentralized finance (DeFi). The platform was started in 2016 and has raised millions of dollars at a $1 billion valuation. The firm, which is headquartered in Norway, is one of the biggest European firms in the industry.

Dune Analytics provides in-depth data that enable users to create dashboards of multiple assets in Ethereum, Polygon, and BNB Chains. For example, the chart below shows a dashboard that shows the total trading volume in the leading DEX platforms. Using this information, a trader can determine whether it makes sense to buy or sell decentralized tokens.

DEX trading volume

Users can also create dashboards on Non-Fungible Tokens (NFT) in platforms like OpenSea. For example, the chart below shows that the overall volume of NFT trading in the platform is falling, raising serious concerns about the growth of NFTs.

NFT trading volume

Dune Analytics uses a freemium model to make money. It offers a free platform that comes with limited features such as the ability to create dashboards, share your charts, query blockchain data with SQL and fork community queries. 

The premium package costs $390 per month. It comes with the features available in the free package and the ability to remove watermark in charts, run more queries, and keep dashboards private. In my experience, I have found the free version to be adequate.

Glassnode

Glassnode is one of the most popular cryptocurrency research platforms. It is popular for its on-chain analysis features that enable people to get an in-depth look at what is happening behind the scenes. 

Traders typically query multiple things in Glassnode. First, they look at the number of transactions in a certain network. For example, if the number of Bitcoin transactions is rising, it is a potential signal for the coin. 

Second, the platform shows the number of wallet addresses in a certain network. An increasing number of addresses is often a positive sign. 

Other on-chain numbers that people pay attention to are wallet activities, miner activity, trends in hash rate, and market tops and bottoms. The chart below shows a dashboard on the number of Bitcoin transactions and total transfer volume.

Glassnode dashboard

In addition, Glassnode also offers other tools that are useful to traders. For example, it has features like the Bitcoin price temperature, RVT ratios, NVT prices, and realized price-to-liveliness ratio.

Glassnode uses a freemium model. Its premium costs start at about $29 per month when paid annually and $39 when paid monthly. The professional package goes for $799 per month.

DeFi Llama

Smart contract layer 1 and 2 platforms like Ethereum, Polygon, and Solana are popular assets among traders. Many buy them because of the belief there’s a longer runway to find growth.

One way of analyzing these assets is by looking at the number of developers using their platforms and their respective total value locked (TVL). Therefore, if the number of apps and TVL in a network is rising, there is a likelihood that its price will keep rising.

DeFi Llama is one of the most useful research tools that have easy-to-understand dashboards, tracking numerous assets. 

DeFi Llama dashboard

In addition to DeFi, the ecosystem has expanded in the past few months to include other aspects of the cryptocurrencies like non-fungible tokens (NFT), oracles like Chainlink, and forks. A good thing about DeFi Llama is that it is a free platform.

Messari

Messari is another tool used by cryptocurrency traders and investors. The company was established in 2018 and has raised over $26 million from venture capital firms.

Messari offers multiple features in its platform. For example, it provides a dashboard that shows the real-time pricing of key cryptocurrencies like Bitcoin, Ethereum, and Solana. It also has a news portal that shows the latest events in the industry. In line with this, it has a team of analysts who provide thematic reports regularly.

Messari has a data portal that allows people to screen assets, explore charts, and track their watchlists. Additionally, it has a calendar that shows the latest events in the industry. The chart below shows the Bitcoin page in Messari. 

Messari dashboard

As you can see, the platform shows a chart of the coin, with pricing across multiple exchanges and key metrics like volume and token usage.

CoinPricePredict

As a cryptocurrency trader, getting the latest news, analysis, and predictions can help you make better decisions. CoinPricePredict is a website that provides these features. It has a platform that allows traders to submit their predictions of most cryptocurrencies. 

Coin Price Predict page

At the same time, the site has a team of experts who create articles on predictions every day. These articles will find both technical and fundamental analyses on these coins. The site also has an educational page to find quality pieces on trading and investing. Therefore, it will help you become a better trader.

Summary

Many free and premium platforms are incredibly popular among cryptocurrency traders. Some of the others that we have not mentioned are DappRadar, Etherscan, DeFi Pulse, and Into the Block.