The 5 Best Crypto Analysis Tools

20 Dec 2023 by Rory Kezjerko 7 min read

With prices pumping amid anticipation for the next bull run, crypto analysis tools have never been so important for DeFi traders.

Further, be it on-chain analytics, technical analysis, or portfolio management, utilising Web3’s plethora of crypto analysis tools is going to be an almost-necessity once tickers sustain periods of green and positive gradients get steeper.

With this in mind, we thought we’d comprise a list of the 5 best crypto analysis tools on the market. Here, such cohort of platforms has been comprised with holism in mind, as each caters to a different area of crypto evaluation.

Why Use Crypto Analysis Tools?

The vast crypto landscape hosts tens of thousands of projects, therefore meaning there’s an abundance of investment opportunities out there…perhaps too many.

In adding to the difficulties that come with identifying the optimal investment avenues, traders also often overlook crucial market news and factors that could impact their investment decisions.

Furthermore, for those seeking the best cryptos for maximising their DeFi bags, crypto analysis tools have become an essential necessity. This is because proficient traders leverage the best crypto analysis tools as a prerequisite before making any moves - with such tools playing a crucial role in comprehending how market sentiment influences the price and volatility of digital tokens.

Crypto analytics tools also go a step further by scanning the markets for optimal trading opportunities and alerting investors through signals. Additionally, some tools notify investors about the launch of new cryptocurrencies into the market.

In essence, the best crypto analysis tools streamline the investment process to provide real-time data that empowers traders to make timely decisions and seize potentially lucrative opportunities.

The 5 Best Crypto Analysis Tools - A Review

TradingView – For Charting and Technical Analysis

TradingView is a highly reputable crypto analytics platform that provides live trading charts for both digital assets and stocks. With over 100 pre-built technical indicators and compatibility with numerous crypto exchanges, the platform offers a comprehensive toolkit that allows access to a vast repository of 100,000+ other community-built indicators.

One notable feature of the platform is its ability to simulate real market conditions for trading strategy testing. Here users can backtest both pre-made and self-written strategies in real-time using historical data, in addition to utilising robust analytical tools that keep users informed with snapshots of daily financial news.

Charting tools on TradingView are available to both free and paid users, with the distinction between these subscription tiers lying in the number of accessible charts and technical indicators. A free account suffices for most traders, as it provides access to basic technical analysis tools - including five indicators per chart and 20 server-side alerts.

TradingView’s basic plan offers essential features, and starts at a price of $14.95 per month. Advanced traders seeking more extensive charts and indicators can explore the Pro+ or Premium plans for a higher subscription fee.

Messari – For Advanced Trading

Messari is a leading crypto tool that aggregates market data and presents it to users through charts and research reports.

In accessing an array of crypto analysis tools, Messari users can filter assets, create watchlists, and analyse crypto data using several other innovations. Additionally, this comes alongside regular reports on real-time market news and events in the crypto space.

Although Messari's sophisticated interface may initially seem overwhelming to new users, experienced traders with DeFi know-how should find navigation relatively seamless.

As previously stated, Messari's standout feature is its comprehensive crypto reports - an instalment we’ve previously explored here at Crypto Presale. Such reports entail the conducting of in-depth research on particular areas of crypto and Web3 - be it quarterly reports or analytical research papers - to ultimately provide users with detailed insights into the matters at hand.

While Messari offers free access with limited core features, traders seeking a more robust cryptocurrency analysis tool can opt for Messari Pro. Priced at $24.99 per month (with annual billing), this subscription includes daily insights, long-form research, advanced screeners, and charting tools. Additionally, Messari Pro allows users to download data into a spreadsheet.

Glassnode – For On-Chain Analytics Access

Glassnode is a platform that aggregates data from various blockchains in order to assess the nature of activity taking place (metric by metric). In dissecting data to minute proportions and offering subsequent valuable insights, the platform has established itself as a premier tool for analysing on-chain data.

Further, the on-chain data supplied by Glassnode reveals essential information such as the market capitalisation of cryptocurrencies, the average duration in which investors hold their assets, and other metrics that offer alpha into the future potential of projects.

Glassnode presents its data through customisable charts and dashboards, allowing users to tailor their experience as they please. It also furnishes price data and enables users to set alerts.

To access such tools, the platform’s membership is categorised into multiple tiers. Firstly, the free-to-access Tier 1 offers data that’s updated every 24 hours, whilst for more advanced traders, paid Tier 2 and 3 offer a more sophisticated experience starting at $29 per month.

CoinMarketCap - For Real-Time Crypto Prices & Stats

CoinMarketCap is undoubtedly one of the most reliable and most-cited cryptocurrency platforms on the market. Drawing on a range of verified sources, the platform’s main service comes via its deliverance of precise price data for various digital assets.

Further, CoinMarketCap simplifies complex information such as trading volume, market capitalisation, and circulating supplies of cryptocurrencies, providing an easy-to-analyse experience. Through operating under Binance’s Capital Mgmt arm, it can also access extensive resources that allow it to gather more in-depth data about new projects. In turn, these features contribute to the platform’s consistent provision of highly-accurate information.

CoinMarketCap also serves as a preferred site for tracking cryptocurrency prices, discovering new coin listings, and exploring emerging presales. Additionally, investors can utilise the platform to set up price alerts for timely notifications about changes in the movement of their preferred digital assets.

Beyond catering to crypto enthusiasts, the platform also offers current information on the best NFTs and metaverse projects.

Importantly, all the information provided on CoinMarketCap is free-to-access.

Shrimpy - Combine Crypto Portfolio Management With Auto Trading

Shrimpy is a platform that primarily functions as a crypto portfolio management website.

Through seamlessly linking with multiple exchanges to provide users with a comprehensive overview of their crypto investments, the platform’s USP is that it eliminates the need for investors to navigate multiple exchanges in order to monitor their overall portfolio performance.

When it comes to its holistic portfolio management features, Shrimpy offers users a visual summary of their digital coins (which are stored across different exchanges and DeFi protocols). Here, users have the flexibility to set specific allocation directions for each cryptocurrency - where for example, they can instruct Shrimpy to adjust the allocation for Bitcoin (BTC) based on market dominance. In the event of a bullish phase for Bitcoin, the platform can then automatically execute trades across exchanges on behalf of users.

Beyond portfolio automation, Shrimpy also allows users to emulate the strategies of established traders on the platform. Overall, the platform simplifies crypto investing for users through offering a streamlined multi-pronged experience.

Finally, it’s important to note that Shrimpy operates on a subscription model which starts at $19 per month. That being said, prospective users wanting a taster have the option to explore a demo before committing to a paid plan.

The 5 Best Crypto Analysis Tools - FAQ

What tools do I need for crypto?

Prior to selecting the best crypto analysis tools, investors should meticulously align their strategies. Those inclined toward short-term approaches may seek tools supporting auto trading, while beginners might favour tools facilitating social or copy trading strategies.

How do you do crypto analysis?

When selecting a cryptocurrency, it's essential to understand the project and its vision. Cryptocurrency analysis parallels fundamental analysis in stocks - if a project makes commitments without addressing how it addresses a problem, it may not be a sound investment.

Is crypto technical analysis worth it?

Analysing cryptocurrency charts is crucial for traders seeking optimal opportunities in the market. This is because technical analysis plays a vital role in enabling investors to recognise market trends and forecast the future price movements of an asset.

Which software is best for crypto analysis?

Crypto traders use various software tools such as TradingView for technical analysis and charting, CoinMarketCap for on-chain data, and Glassnode for blockchain insights. Additionally, there are an array of paid tools that offer advanced analytics for professional traders.

Who is the most trusted crypto analyst?

When it comes to individual crypto analysts, there’s no official leaderboard to determine who’s best. That being said, many tout American entrepreneur Anthony Pompliano and Ethereum Founder Vitalik Buterin as two of the most reputable figures in the space.

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