Web3 presents a complex landscape. With the right tools, however, anyone can navigate it successfully.
Traditional industry analytics tools come with built-in limitations. The reason is simple: data is often proprietary. Whether it's datasets drawn from quarterly Wall Street reports or user metrics extracted from platforms like Facebook, these are curated data points that companies choose to disclose. This inherently restricts analytical depth.
In contrast, nearly all data in the web3 space is publicly visible. On-chain analysis is an activity open to everyone. Whenever a major industry event occurs, dozens of anonymous analysts on Crypto Twitter are quick to provide their post-mortems. You can do the same.
Blockchains like Ethereum and other top smart contract platforms are overflowing with data. If you can learn to analyze this data in real-time, you can uncover significant alpha and even new professional opportunities. This guide will walk you through some of the best resources available to enhance your crypto analytics skills.
Why Crypto Analysis Matters
I first discovered cryptocurrency in the spring of 2017. By that summer, I was deep into researching the space, and by fall, I had landed my first job in the industry writing crypto news for a small outlet called CryptoAnalyst. My knowledge was limited then, and the field of blockchain analytics was in its infancy.
Since then, I've worked extensively within the ecosystem, and one thing has become abundantly clear: the quality and quantity of crypto analytics tools have exploded. This is excellent news for everyone because knowledge is power. More precisely, in the world of crypto, knowledge is power and profit.
This was as true during the 2017 ICO boom as it is today amidst the Cambrian explosion of DeFi and NFTs. A key difference between then and now is the proliferation of high-quality analytics tools that make actionable web3 knowledge more accessible than ever. Let's explore five platforms that can significantly strengthen your crypto research.
1. CoinGecko and GeckoTerminal
A few years ago, CoinMarketCap was the go-to resource for checking cryptocurrency prices, market capitalizations, trading volumes, and more. However, after its acquisition by Binance in April 2020, many in the community felt the platform had been "captured" and began seeking alternatives. CoinGecko emerged as the leading independent successor, quietly surpassing its competitor during the bear market to become the world's largest independent crypto data aggregator.
Beyond its independence, one of CoinGecko's strongest advantages is its ability to stay ahead of trends. Whenever I need to check the price action or trading volume of a new token, CoinGecko almost always has the basic data available before other platforms. This impressive responsiveness is partly due to its massive coverage—the platform currently tracks key data for over 13,000 different crypto assets across more than 600 exchanges.
But that's not all. The project recently launched GeckoTerminal, a DEX aggregator. If you want to trade a token, whether it's on an Ethereum Virtual Machine (EVM) chain or a non-EVM chain, GeckoTerminal likely has the charts and liquidity pool data you need for direct analysis. This makes it an invaluable tool for on-chain trading.
👉 Explore real-time market data
2. DeFiLlama
For DeFi power users, DeFiLlama is an indispensable resource. It precisely and rapidly tracks Total Value Locked (TVL) and volume data for over 150 blockchains and a vast array of protocols. This makes it an excellent platform for getting a high-level, macroeconomic view of the crypto economy at any given moment.
Yet, DeFiLlama is far more than a simple DeFi statistics hub. The project also provides real-time yield metrics, stablecoin charts, liquidation activity, airdrop opportunities, hack information, and much more. In other words, once you start using the "Llama," there's no going back. It offers a holistic and detailed look into the inner workings of the entire DeFi landscape.
3. Dune Analytics
In recent weeks, Reddit NFTs surged in popularity. Just a month ago, I knew very little about them. When I noticed activity around these digital collectibles starting to explode, I knew I needed to research and write an article to explain what was happening. My first stop for that research? Dune Analytics.
Dune Analytics is a platform that allows anyone to create and share crypto analytics dashboards using SQL queries. For my research on Reddit NFTs, I used a dashboard created by user petertherock, which provided all the necessary information: number of NFT holders, sales volume, and other key metrics.
The coolest aspect of Dune is its extensive coverage. It supports data from DeFi and NFT projects on various chains, including Ethereum, Arbitrum, Optimism, and Polygon. I highly recommend making Dune a core part of your on-chain analysis toolkit.
4. Nansen
If I were challenged to make $1 million in the crypto economy within a year using only one tool, that tool would be Nansen. While the figure is hypothetical, the results Nansen can help you achieve are very real.
I detailed a personal experience in a past article where I used Nansen's Mint Master tracker to mint the WAGDIE NFT just before its floor price skyrocketed. I found the project through Mint Master after noticing nearly 40 addresses labeled as "Smart Minters" by Nansen were participating in the mint. I accumulated several, and their value multiplied soon after.
Nansen won't guarantee constant wins, but it excels at surfacing the strategies of the top 1% of profitable traders in real-time, in a way other platforms can't match. Its suite of powerful services includes:
- Wallet Profiler: Provides key metrics for any wallet address.
- Hot Contracts: A dashboard for tracking trending smart contracts.
- DeFi Paradise: A complete overview of the DeFi economy.
- NFT Paradise: A comprehensive market view of the NFT economy, including trending collections and new mints.
- Smart Money: Tracks the activity of proven, profitable crypto and NFT traders.
- Token God Mode: A one-stop search engine for all major information around a token, including volume and trading activity.
👉 Discover advanced analytics strategies
5. Token Terminal
Token Terminal ranks among my favorite crypto analytics platforms because it arguably offers the best data on blockchain and protocol fees and revenues. Do you want to know how profitable a specific crypto project is at any given time? Token Terminal has you covered, whether you're researching projects within a specific vertical, like lending markets, or across an entire blockchain.
This focus on fundamental, business-level metrics—like revenue, price-to-sales ratios, and protocol earnings—provides a unique and valuable perspective. It allows for a more traditional financial analysis of crypto projects, which is crucial for assessing long-term value and sustainability beyond mere hype.
Frequently Asked Questions
What is the main benefit of using crypto analytics tools?
These tools provide transparency into on-chain activity, allowing users to make more informed decisions. They help identify trends, track smart money movements, evaluate project fundamentals, and ultimately discover new opportunities before they become widely known.
Are these tools suitable for beginners?
Yes, absolutely. Platforms like CoinGecko and DeFiLlama are designed with user-friendly interfaces that make basic data easy to access and understand. While advanced platforms like Nansen and Dune have steeper learning curves, they also offer immense value to users willing to explore their features.
Do I need to pay to use these tools?
Most of these tools offer robust free tiers. CoinGecko, DeFiLlama, GeckoTerminal, and Dune are largely free to use. Nansen and Token Terminal operate on freemium models, providing some data for free while reserving their most powerful features for paid subscribers.
How does on-chain data differ from traditional market data?
On-chain data is verified, immutable, and transparent directly from the blockchain. Traditional market data is often self-reported by companies or institutions, which can lead to delays, inaccuracies, or intentional obscurity. On-chain data provides a real-time, unfiltered view of network activity.
Can these tools guarantee profitable trades?
No. These are analytical tools, not crystal balls. They provide data and insights, but they cannot predict the future or account for market volatility, unexpected news, or irrational investor behavior. They are designed to inform your strategy, not replace due diligence.
Which tool is best for tracking NFT trends?
For a high-level overview, CoinGecko's NFT section is useful. For deep, customizable analysis, Nansen's NFT Paradise and Dune Analytics are industry standards, offering detailed insights into sales, mints, and collector activity.
Becoming a Better Crypto Analyst
Learning to navigate the five crypto analytics projects listed above will put you well ahead of most other analysts in the space. The best part is that these platforms make browsing critical blockchain data straightforward; no extremely specialized knowledge is required to use them proficiently.
By actively exploring and utilizing these resources, you will begin to develop a sharper intuition for the market and start achieving on-chain wins you previously didn't think were possible. The journey to becoming a savvy analyst begins with knowing where to look.