A pricing data analytics tool called DEXtools aids traders in navigating decentralized networks more conveniently. The platform’s capacity to track the real-time price of tokens is one of its key benefits. So let’s get started by introducing you to Dextools’ fundamentals.
DEXtools gives traders more access to information about various tokens. The site evaluates tokens according to various criteria and also gives the community the opportunity to rank them. This is displayed on the website’s “Community Ranking” page. Additionally, it provides real-time prices and displays comprehensive tokenomics, including volume and liquidity.
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The transaction portion of DEXtools, which displays all transactions along with their size, time, address, and price for a particular token, is one of the most sophisticated tools available. This data can be used by a skilled trader to assess the timing of his trades.
What is Token Analysis?
The token is a random data string with no meaningful or valuable purpose that can be exploited. It is a special identification number that keeps all the important facts about the data while maintaining its security.
How Can DEXtools Help Traders?
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 major advantages.
The latency between the live prices and several price tracking services is a problem. But, 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.
Also, 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 shown in the transaction history, but it still affects the dextools chart.
The 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 that cryptocurrency can all be used to filter the results. You can also design your own filters if that is insufficient.
Every 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 add to MetaMask button and quick access links to all the pertinent information are also included in this function.
Those 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 dextools 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.
Use Massive Swaps to Follow Huge Traders
Large traders, or “crypto 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.
Even if there are a lot of external services that offer dextools crypto notifications, it’s always preferable to receive notifications right on the platform to reduce reaction time. Those 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. Similar 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.
MutliSwap and Multi dextools charts
You can view and consider your approach on up to 10 charts at once using DEXTools. Also, 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.
Exploring the DEXtools Platform
Users of DEFI can anticipate market movement and develop better trading strategies with the aid of DEXTools. It enables traders to effortlessly browse decentralized networks as a tool for pricing data analytics.
By selecting a pair and the DEX they want to utilize, users can make atomic token exchanges directly through DEXTools by clicking the “Multiswap” button. The configuration will then be ready for usage after the user connects their wallets to the selected DEX.
The following describe how DEXTools functions:
- DEXTools operate on all platforms. It can be accessed on a phone, laptop, or tablet by the user.
- DEXTool assists in setting up live notifications
- It saves data that the user can access from any device
- DEXTool develops custom trading strategies for optimal profit
- Exchanges sell DEXT, which can be used to activate a DEXT subscription
Benefits of Using DEXtools
It all depends on how involved one is in the market. Below are the six features that traders can access through a subscription, with options for a free subscription that gives users access to certain essential services including real-time data & chart, pool explorer, pair explorer, 10 favorite pairs, price alerts, top 10 hot pairs, and aggregator.
And then there is the Premium plan, which includes all of the aforementioned features along with additional potent features like the Big Swap Explorer, Multi Swap Windows, No Favorite Limit Pairs, Trade Analytics, Wallet Information with a Tracker, Price Alerts on Desktop and Some Apps, Completely No Ads, Top 15 Hot Pairs, Dextforce Ventures, More Exclusive Upcoming Features, Limit Order and Trading Bot, DEXTForce Premium Discord.
Some of the standout characteristics include:
- Discovering better pairs: Via this feature, subscribers may track the top pairs with real-time graphics and transactions, add teams to favorite lists or categories, and do much more.
- Large Swaps: Keep an eye on or gain visibility into the selected swaps to receive more details immediately. This could involve significant swaps, large swaps, or swaps involving tactical moves.
- Examine Wallets: The user has the option to track, investigate, and even store wallets.
- Multiswap: Engage with multiple pairings while seeing them on a screen, tablet, or laptop.
- Aggregator: Trade within the app itself.
Dextool functions as a central hub for DeFi trading and analysis as an application and platform. Dextool intends to be “the standard for insights, trading capabilities, cross-platform interoperability, consumer protection, and crypto education.”
The entire ecosystem is resilient, just like the best-performing blockchain or Defi technologies available today. The strength of its aggregator, which excels in scalability and data providing and interacts with other technology, the finest blockchains, and the top initiatives in the cryptosphere, highlights its brilliance.
Tips for Getting Started with Token Analysis
The following are merely preventative measures to aid with your analysis of any token and to direct you toward making a secure decision.
Scrutinize the token’s whitepaper
The team’s goals for the project and the token’s use cases are described in the whitepaper for each token. This will enable you to determine whether reasonable goals have been set.
Even if you’ve identified achievable objectives, you must confirm that they weren’t plagiarized from the whitepaper of a different project. Because, let’s be honest, the latter has frequently occurred.
Assess the team behind the project
The next step is to evaluate the team supporting the project after having a solid understanding of what the initiative has to offer. Has anyone ever have experience working on respectable projects? Are they trustworthy participants in the blockchain ecosystem? What are their credentials?
This evaluation aims to provide you peace of mind that the token you’re investing in is supported by experts in the field. Think of this as a fundamental investigation that will prevent you from investing in a business that is simply interested in maximizing profits. However keep in mind that photographs can be easily stolen from the internet.
Check out the project on social media
Keeping an eye on the token’s community on social media is a proven way to invest in an ICO. Here, you may find out if a sizable community is backing the project’s cause. Reddit, Facebook, Twitter, and Telegram would be good places to start.
Also, you’ll learn what others are saying about the project and be better able to make selections. There are, of course, bounties out there where individuals are compensated for speaking favorably about the project. So, these reviews can be prejudiced.
Ascertain legality Issues
You’ve found a fantastic token’s ICO to invest in, but you’re prohibited from taking part by the laws of your country. If you continued to move forward with your investment, you would be breaching the law.
Having said that, you must confirm that participation in such offerings is not limited by your country’s authorities. Despite this, ICOs are still uncontrolled in many areas, however some regulators are attempting to make more lenient regulations.
Verify if the token’s project is solving a major problem
While examining a token you are about to invest in, you should not overlook this crucial component because it establishes the utility value of a token’s market value. Hence, as a wise investor, you ought to provide an answer to this query before making a token investment: What special issue is this token addressing?
Take Atayen Corp. as an example. With its SaTT solution, which makes it possible for anybody to be compensated for their social media postings via a platform created at the cutting edge of technology, it is revolutionizing the advertising industry and, in particular, the influencer sector. Another is Vinchain, which is building a global blockchain database of used automobile data that is completely secure, open, and accessible to everyone.
Practically speaking, blockchain initiatives that successfully address a significant issue will experience an increase in demand, increasing the trading value of their token.
Find trusted people
It’s true that you can be really busy and not always have the time to carefully review every job. If so, it shouldn’t come at the expense of your cash.
Following reputable individuals in the cryptocurrency field will be helpful. These people ought to be knowledgeable ecologists with experience who can offer you wise counsel. It will spare you from spending all day studying a project in front of a screen.
Get abreast of the token’s project announcements
When your money is on the line, you don’t want to invest in a token and then go to sleep. Following the initiative on numerous social media platforms is thus a good idea. To stay informed, check out the most recent announcements on these platforms.
Furthermore, most projects post notices on sites like the Bitcoin Talk Forum and others. Also, because everyone is free to comment, you’ll learn what users think of such news. You should use this opportunity to post any queries you may have on the Forum.
Timing is crucial. Even though it’s the last on the list, it’s still crucial because picking the right moment to invest might affect your return on investment. As a result, given that there are bull and bear markets, you need to know if it’s the ideal time to invest in cryptocurrencies.
For all traders who use decentralized exchanges, understanding how to use DEXtools is crucial. It’s wise to always verify the token’s real-time pricing before pressing the buy button. Additionally, there are certain benefits to using the platform correctly that might offer someone the edge they need to achieve greater results.