In the cryptocurrency industry, decentralized exchanges (DEXs) provide some of the greatest services. However, because they trade even the most obscure tokens, they may suffer greatly from liquidity issues. Because of this, cryptocurrency developers have developed a variety of strategies to lower the prices and increase the liquidity of various coins.
Solutions like DEX aggregators, liquidity pools, and now DEXTools are examples of what they have developed. DEX aggregators keep track of the most competitive token prices on many exchanges in segmented forms, then combine them into a single transaction. Almost all exchanges, including CEXs, include liquidity pools open to users, who can use them to lock their assets and offer liquidity in exchange for rewards.
You can also read about SafeMoon LLC: A New Player in the Cryptocurrency Game
These solutions’ main goal is to ensure that an exchange has adequate token liquidity for traders to exchange them at rates that are close to the market range. When a particular token swap is made at a price that is higher than what it is selling for on the market, slippage is avoided. Users should use DEXTools to gain a thorough study of the markets in order to prevent slippage on DEXs. More details about DEXTools is provided below.
Introduction to DEXTools
Early on, it was challenging to learn everything there was to know about DeX trading. Because there wasn’t an analytics tool that could provide you with a thorough insight into the small-cap tokens’ trade history.mBlock explorers allow you to track transactions, but they are time-consuming and only allow you to track a single token, there are many intriguing projects available. And DEXTools fills the void in that situation.
DEXTools is primarily an analytics tool that offers current information and analysis on the most well-liked DeFi protocols and assets. Users of the platform can access historical data, watch the progress of their investments, and evaluate the effectiveness of various protocols and assets using the analytics dashboard.
This data is presented in an intuitive interface that makes it simple to see trends and patterns and use other tools that we’ll cover in a moment to make data-driven decisions.
DEXTools also provides a range of educational tools, including videos, guides, and webinars, to help customers better comprehend the intricate world of DeFi, even if it might sound like a tool for experienced traders who are accustomed to working with intricate data sheets and thorough statistics.
What Does DEXTools Offer?
Trades may be managed, thoroughly analyzed, and executed using a single interface with DEXTools. DEXTools provides comprehensive trading analytics, price alerts, a liquidity pool explorer, and a trading pair explorer with current price data and charts that highlight trending cryptocurrencies.
Benefits of Using DEXTools
DEXTools provides a wide range of features and functionality to aid users in navigating the intricate decentralized finance ecosystem. Here are a few of the platform’s advantages.
The latency between the live prices and several price-tracking services is a problem. However, DEXTools provides real-time statistics. When placing market orders, this feature might help you save a lot of money because the price at which your transaction is placed may be significantly higher than the price you are seeing on your exchange.
We’ve made the decision to use a few small-cap coins to test this feature. Additionally, based on our testing, it appears that the price chart is updated almost instantaneously, but the transaction history does not display every transaction.
Thankfully, a little transaction occasionally doesn’t show in the transaction history, but it still affects the price chart.
Your DEXTools dashboard’s middle section gives you a summary of the trading pairs and tokens that are trending right now. The network, token age, safety score, community rating, trading volume, and decentralized exchanges that support cryptocurrency can all be used to filter the results. You can also design your own filters if that is insufficient.
Any token pair’s pool information section makes it easy to keep an eye on the trends in liquidity. How many transactions were completed, how much liquidity there is overall, or even how much, and for how long, is liquidity locked in? A quick addition to the MetaMask button and quick access links to all the pertinent information is also included in this function.
Users who use the pair explorer tool can access in-depth data and analysis on certain trading pairs. You will be given a thorough overview of the historical data for each trading pair, including price, volume, and order book depth, as soon as you open on any trading pair.
The spread between the bid and ask prices as well as other real-time data are available to users. The Pair Explorer function also offers a number of charting tools that you might be familiar with from TradingView. You can add sophisticated indicators or switch between several chart types.
P&L Tracking Feature
With just one open trade, monitoring your profit/loss ratio is simple. You could become confused if you are trading across numerous pools, though. With the help of DEXTools, you can effortlessly keep track of your trading decisions and develop your approach over time by using the built-in P&L tracking feature and history function.
Track Big Traders with Big Swaps
Professional and great traders that are called “whales” have a relatively easy time manipulating the market. Particularly given that we are traveling into a decentralized environment where tokens have very little liquidity. You can monitor any larger transaction across all trading pairs with the Big Swap function. And then filter it based on the value, trading partners, or effect of the trade.
How to Use DEXTools?
Users of DEXTools can conduct atomic token swaps through the platform itself. Users must choose the pair and DEX they want to trade on by clicking the “Multiswap” option.
Users just need to link their wallets to the selected DEX (Uniswap, Sushiswap, or PancakeSwap) when that is completed for everything to be ready.
Users can quickly open price charts for any trading pair offered on the platform with just a click. TradingView, a top chart analysis program, provides all of the charts in DEXTools. It is possible to use a variety of charting tools and features as well as save and share on social media.
Users merely need to link their wallets to the system to begin utilizing the DEXTools DApp. To start using DEXTools, select a wallet (MetaMask, WalletConnect, WalletLink, Torus, Fortmatic, Authereum, or MEW) and authenticate the owner of the wallet.
Advanced Features of DEXTools
Here are some Advanced Features of dextools crypto:
Even if there are a lot of external services that offer cryptocurrency notifications, it’s always preferable to receive notifications right on the platform to reduce reaction time.
Users who want to take advantage of market opportunities or reduce risk may find the price notification tool to be especially helpful.
For instance, you can configure alerts to notify you when the price of a certain trading pair drops below a predetermined level, perhaps signaling a purchasing opportunity. Similarly to that, you can configure alerts to notify you when the price exceeds a predetermined threshold, potentially signaling a selling opportunity.
Any trading pair can have notifications configured. When the price hits the stated amount after the alert is set, you will be notified through email, SMS, or in-app notice. Additionally, you can choose to get notifications regarding your portfolio.
MutliSwap and/or MultiChart
You can view and consider your approach on up to 10 charts at once using DEXTools. Additionally, you can open an infinite number of trading pairs using MultiSwap on the second browser tab, which will speed up your trades. This makes it possible for you to manage risk and apply sophisticated trading methods. For instance, you may place a trade on a trading pair that has high liquidity and a low spread while also placing a trade on a pair that has low liquidity and a high spread.
Pros and Cons of Using DEXTools
We should also point out that dextools crypto is regarded as the industry standard and is used by Defi traders all over the world in addition to the capabilities already mentioned. Every day, the platform innovates and enhances its trading app features.
The live DEXTools price today is $0.361425 USD with a 24-hour trading volume of $556,501 USD. The key to successful cryptocurrency trading is gathering the correct knowledge that can be put to use straight away. By leveraging analytics like dextools chart to your advantage, you can now have a competitive advantage over other traders in the cryptocurrency market. Understanding what you are looking at and why it is essential is crucial, though.