Cryptocurrency research is an important component for any trader or investor. Technical analysis allows them to predict where different coins will move to while fundamental analysis lets them understand the latest price action of the digital currency. It also gives them access to important on-chain metrics such as the number of active wallets and addresses.
There are many free platforms that let investors and traders analyze market conditions. Some of these websites are CoinGecko, CoinMarketCap, and DeFi Pulse. In this article, we will look at some of the most popular premium cryptocurrency research tools for all market participants.
Santiment is a Zurich-headquartered company that has become popular among cryptocurrency hedge funds and even ordinary traders. The firm has raised over $10 million from a group of venture capital companies over the years.
Santiment offers three main services to customers. First, it has SanX, which is an indexing solution that tracks multiple assets at the same time. SanX is an index made up of some of the biggest cryptocurrencies like Loopring, Ren, Uniswap, and SushiSwap.
The benefit of this index is that it rebalances automatically based on market performance. Therefore, traders can look at the data to gauge the overall performance of the DeFi industry.
Second, SanR, which is a decentralized marketplace for cryptocurrency signals. Anyone can go to the platform and provide a signal on hundreds of cryptocurrencies like Bitcoin and Ethereum. In 2022, the company also introduced a signal for Non-Fungible Tokens (NFT). The chart below shows how these signals look like.
The other service is known as insights. It is where the team behind Santiment uses the vast trove of data the company has and then publishes some of the most in-depth reports. For businesses, Santinent has solutions like Sanbase and SanSheets that has in-depth data on thousands of digital coins.
Most of Santinent’s solutions to retail traders is free. It only charges a fee for Sanbase and its API. The fee for the two products is $44 and $149 per month.
On-chain data refers to the in-depth activities that operate inside a blockchain project. For example, when looking at a product like Bitcoin, it involves things like the number of transactions, active addresses, gas fees, block size, and open interest.
Most projects provide this information for free in their respective websites. For example, it is easy to see Bitcoin transactions since the network is based on open-source data. However, the challenge is that this data is hard to analyze in its raw form.
Glassnode’s developers have done the hard work and collected live data of most cryptocurrencies like Bitcoin and Ethereum. This data is then presented in a user-friendly manner that anyone can understand.
In total, Glassnode tracks thousands of data that it divides into Tier 1, Tier 2, and Tier 3. By looking at these numbers, you can easily tell whether large holders are adding to their positions or reducing them.
Glassnode provides its basic services for free with its premium features ranging between $29 and $799. The chart below shows the number of active addresses compared to the coin’s price.
Skew Analytics is a company started in London that offers in-depth data of Bitcoin, Ethereum, and other futures. Its goal is to help traders and investors make good decisions on the assets they are dealing with. In 2021, Coinbase acquired the firm for an undisclosed sum of money. The acquisition was meant to help Coinbase boost the solutions that it offers over 7,000 institutional investors.
Some of the features it provides are over 350 charts to choose from, market data dashboards, and the ability to export this data using a CSV format.
Skew is one of the most premium tools in the cryptocurrency industry. People pay $279 per month while companies spend $558 monthly and an extra $159 per person.
IntoTheBlock is a premium cryptocurrency platform that helps users conduct in-depth analysis on most leading coins. It provides a complete suite of product that includes multiple solutions like blockchain analytics, price predictions, DeFI analytics, and market analytics.
In price predictions, the company has created an artificial intelligence tool that looks at multiple indicators and then forecasts where a certain coin will move to. Like all prediction models, IntoTheBlock is not accurate but traders can use it to complement their trades.
In blockchain analytics, the company digs deeper into over 500 cryptocurrencies and then finds trends in their ecosystem. Further, in market analytics, it lets people compare spot and derivatives trading data and the overall market sentiment. As a result, users can combine all this data to estimate whether a cryptocurrency is a good investment or not.
IntoTheBlock does not have a free version. Instead, it charges customers $8.33 per month if they opt to pay yearly and $10 if they are monthly clients. The chart below shows a sample dashboard of IntoTheBlock.
Nansen.ai is another premium platform that offers multiple solutions that are mostly tailored for institutional clients. The platform’s dashboard has several features like in-depth on-chain analysis tools and even data on NFTs. It then provides data visualization products with the goal of helping users make better decisions.
Nansen also provides smart money analysis tools that give a more in-depth view of how some of the best traders are allocating money. Its NFT analysis tools show how the leading platforms in the industry like Bored Ape Yacht Club are performing. It also has a news feature that provides all the latest news in the cryptocurrencies industry.
Nansen uses a freemium model. Its free package is a bit basic and does not include its most advanced products. Its premium products start at $399 per quarter while its VIP and Alpha products cost $3,990 and $9,000 per quarter. The chart below shows how a basic package looks like.
Premium research tools are highly effective in the blockchain industry. In this article, we have looked at some of the best tools you can use when you are a cryptocurrency trader or investor.