Business

Erik Gibbs

Crypto analysis tools continue to improve

As the cryptocurrency ecosystem evolves, so do the tools that enthusiasts use to monitor the activity. CoinMarketCap still may be one of the leading sites, but there are now a number of other options that are giving it a run for its money. In addition to offering a competing platform, they are also ushering in a whole new suite of options to help adopters better understand the industry.

Blockchair is one of these alternatives. It has been known as a crypto explorer, but also now offers coverage of the Omni Layer and Wormhole protocols. It also offers the ability to print receipts for Bitcoin BCH, Bitcoin and Litecoin transactions.

Onchainfx added a new service to its platform a few weeks ago. It now provides a Breakeven Multiple column, which is designed to show how many times a currency would have to double to reach its former all-time high. It also provides a unique function that allows users to mark certain events on the chart in order to connect movements with actions. This is especially useful in trying to determine why assets rise or fall or how hard forks impact prices.

Nonfungible.com takes a different approach, concentrating on ERC721-based tokens. It tracks everything from Cryptokitties to Decentraland and provides details on the trading that has occurred over the past 24 hours, the tokens’ average value and the number of active users.

Blockmodo is a platform that is similar to CoinMarketCap, but with additional features. It offers community, video and social media data to better a more well-rounded picture of why markets are acting the way they are.

Satoshi Pulse, which is offered by Bitcoin.com, has its own tracking platform. The charts it provides provide a cleaner presentation of both current and historical data compared to CoinMarketCap.

As the space continues to evolve and mature, the available tools will only get better. The developments within the crypto industry are only as limited as developers’ imaginations and the needs of the community. The tools that are offered today are only a fraction of what is possible and what will be available as awareness and technology continue to improve.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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