Executive Summary: Blockchain analytics tools are web-based software platforms that help investors reduce risk and make informed investment decisions through in-depth analysis, real time data tracking, and market insights. Here’s our list of the best tools — the ones we use ourselves!

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Data analytics is at the core of any successful investment strategy. Traditional investors in stocks, securities, and forex markets rely on a wide array of data analytics tools to gain critical insights that make the difference between spectacular ROI and catastrophic losses.

Now, investor analytics tools have come to blockchain.

Here’s our editor-curated list of the most popular blockchain analytics platforms today. While most of them offer a decent array of free analytics tools, some in-depth analytics and real-time tracking requires a subscription.

There is no such thing as a best crypto analytics platform, as analytics platforms usually specialize in certain tools or niches. For crypto investors, using different tools for different use cases can lead to much better investment decisions.

Here’s our list of top analytics tools, based on longevity, traffic, community, and price:

Platform	Year Est-ablished	Organic Traffic (monthly)	Twitter Followers	Free/ Paid/ Hybrid	Lowest Price Tier (Annual)	Highest Price Tier (Annual)	BMJ Score
Coin MarketCap	2013	28M	5.8M	Free	$0.00	$0.00	4.0
Dapp Radar	2018	76.5K	197.7K	Free	$0.00	$0.00	4.0
DeFi Llama	2020	47.8K	182.4K	Free	$0.00	$0.00	3.0
Glass node	2018	11.3K	501.5K	Hybrid	$348.00	$9.5K	3.0
Messari	2018	52K	311.6K	Hybrid	$299.88	$10K	3.0
TheBlock	2018	24.1K	324.5K	Hybrid	N/A	N/A	3.0
Dune Analytics	2018	11.8K	102.5K	Hybrid	$4.7K	$11.8K	2.5
AltFins	2018	7.5K	9.1K	Hybrid	$180.00	$600.00	2.0
Coin Metrics	2017	1K	92.8K	Hybrid	N/A	N/A	2.0
Delphi Digital	2018	1.3K	155K	Hybrid	$1.1K	$11.9K	2.0
Nansen	2019	8.7K	183.7K	Hybrid	$1.2K	$24K	2.0
Chain alysis	2014	8.8K	48.1K	Paid	N/A	N/A	1.5
Token Terminal	2020	8.4K	89.6K	Hybrid	$3.9K	N/A	1.5

What are Blockchain Analytics Tools?

Blockchain analytics tools are software platforms that allow investors to gather and analyze a wide array of data and metrics from blockchain networks. You can use these tools to analyze fundamentals about the business, see the historical performance of the token, and compare metrics between similar projects.

Blockchain analytics tools serve a vital purpose in crypto investing, empowering individual investors and institutions to make informed decisions by providing deep insights into various blockchain tokens, NFTs, and DeFi platforms.

The vast majority of blockchain analytics tools are available as web-based platforms and mobile apps. They usually offer services across multiple tiers – a basic free service with limited data visibility and analytics options, and a paid subscription-based service that unlocks advanced data analytics capabilities.

The Top Blockchain Analytics Tools

In the modern blockchain ecosystem, there is no shortage of blockchain analytics tools. Investors, particularly newcomers, often face an embarrassment of riches. This shortlist of the most popular analytics tools will give you a concise overview of what we like about each tool (and how we use them ourselves).

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1. CoinMarketCap

Launched in 2013 by Brandon Chez, a software engineer in the tech industry, CoinMarketCap quickly evolved into one of the most popular websites for blockchain enthusiasts to keep track of crypto prices and market capitalizations.

Acquired by Binance in 2020, CoinMarketCap is the leading provider of blockchain data analytics tools. The website tracks real-time data on over 10,000 cryptocurrencies, with price tracking, market cap rankings, and historical data. There is also a news section that keeps track of the latest developments in the cryptocurrency ecosystem.

Through its API service, the platform provides direct access to market data in a highly structured and programmed format. While this service is available free of cost, professional investors often rely on the paid “Pro” subscription plan which provides more advanced features, key metrics, tools, and unrestricted access to real-time data.

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2. DappRadar

As the name suggests, DappRadar is an online source of data and insights into the world of DeFi and blockchain apps. Based in Vilnius, Lithuania, the platform was launched in 2018 by a small team of Lithuanian blockchain professionals.

DappRadar shares some DNA with DefiLlama, since they both focus on decentralized finance. However, DappRadar gives more priority to the app side of the ecosystem. It has rankings of the most popular blockchain apps, with metrics like daily volumes, daily active wallets, and balance in smart contract apps.

There are separate analytics and visualization tools for NFTs and apps across various sectors. Subscribers can use an advanced API to gain real-time visibility and tracking capabilities across multiple blockchains, covering dapps, NFTs, and gaming.

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3. DefiLlama

Decentralized Finance (DeFi) protocols rose to prominence in the blockchain space in early 2020. DefiLlama was created by a group of developers and enthusiasts actively involved in the burgeoning scene of decentralized finance.

The platform provides DeFi users and investors with dedicated analytics tools to better navigate this rapidly evolving market. The website’s main feature is a ranking page for DeFi protocols, sortable by various criteria.

Metrics include total value locked (TVL), liquidity, market performance, daily volume, and more. The charts facilitate quick and easy comparisons between various protocols.

A highly useful feature for potential investors is the yield farming calculator tool, which you can use to estimate your up-to-the-minute potential ROI from different DeFi protocols.

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4. Glassnode

Glassnode is a highly popular on-chain data analytics platform among cryptocurrency investors, developers, and traders. The site was launched in 2018 by a group of industry professionals with deep domain experience in blockchains.

For more casual investors and cryptocurrency newcomers, the platform offers a free version of its Glassnode Studio – here you will find a decent selection of basic metrics and data analytics tools to look at daily on-chain transactions, network activity, active addresses, and more.

However, a subscription is necessary if you want more serious analytic tools with access to real-time data on cryptocurrencies and DeFi projects, plus a wider array of on-chain metrics for deeper insights.

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5. Messari

Ryan Selkis, the founder of the cryptocurrency news site CoinDesk, is the brains behind Messari.io. The platform was launched in 2018 to provide high-quality research data on popular blockchains and cryptocurrency projects to investors and institutions.

Apart from providing data analytics tools for tracking and visualizing blockchain data, Messari.io also has an in-house team of blockchain data analysts. Their main job is to publish in-depth market research reports and provide insights into various aspects of blockchain technology.

Users can rely on the platform for market analysis, risk management, and tools that track trading volumes, market cap, and other basic metrics. There is also a community forum where you can collaborate with other users of Messari.io.

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6. TheBlock

TheBlock is a high-quality news and research platform specializing in the blockchain market space. It was launched in 2018 by journalist and crypto entrepreneur Mike Dudas to create a comprehensive online news and research platform for blockchain investors and developers.

In terms of features and services, TheBlock shares some features with both Messari.io and CoinMarketCap. It has the former’s focus on research data and reports while retaining the news and current affairs focus pioneered by CoinMarketCap.

While many other blockchain data analytics platforms share the common traits of graphs, metrics, and dashboards, TheBlock looks more like an online news and reports platform for cryptocurrency users and investors.

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7. Dune Analytics

Dune Analytics is a popular data analytics platform that allows users to set up and share their own reports, pulling from live blockchain data. The platform was launched in 2018 by three individuals – data scientist Frederick Haga, software engineer Mats Julian Olsen, and business development expert Simen Øygard.

The platform’s standout feature is its flexibility and extensibility – users can create custom dashboards and analytic tools that focus on specific metrics of popular blockchain networks. Dune also offers users an extensive set of pre-built templates that investors can use as a baseline to develop their custom dashboards.

Dune’s data analytics tools focus on popular blockchains like Ethereum, Polygon, and BSC. But users can use these tools to look at any network that is not natively supported by Dune – you can connect to the network’s public API, or load any available data directly to the Dune platform.

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8. AltFins

AltFins is a data analytics platform with a broad approach that looks at everything from on-chain analytics to market trends, trading patterns, and investment research. The platform was launched in 2018 by a team of blockchain technology and finance professionals.

You can get real-time token pricing data, trading patterns, and technical analysis of the top 55 cryptocurrencies in the market. A research hub provides quick access to a wide array of in-depth reports created by the AltFins team.

While some of the more advanced features on the platform require a subscription, AltFins does offer a competent array of data analytics and market highlights free of cost to visitors. The platform is an excellent source of information for investors who seek data on trading signals, market patterns, and other technical analyses.

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9. CoinMetrics

Launched in 2017 by a team of blockchain experts and other industry insiders, CoinMetrics is cut from the same cloth as GlassNode and Token Terminal. The range of data analytics tools offered for blockchain investors and traders is quite similar across all three platforms.

Atlas Search is a feature-packed blockchain explorer tool unique to CoinMetrics. Other notable features include network data feeds, crypto market data feeds with both historical and real-time data, asset benchmarks, and risk management tools.

While the platform offers a robust array of free charts, historical blockchain data, and market insights, access to more advanced blockchain analytics, and real-time data is limited to paid customers. However, CoinMetrics does provide free access to a constant stream of in-depth research reports on its website.

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10. Delphi Digital

Delphi Digital is a blockchain research and consulting firm launched in 2018 by financial analyst Anil Lulla and cryptocurrency expert Tom Shaughnessy. The delphidigital.io platform primarily caters to investors and businesses interested in venturing into the blockchain markets.

While there are a few free services on the platform like weekly newsletters, podcasts, and blogs, access to premium reports and market insights is locked behind a paywall. Apart from reports and analytics, Delphi Digital also offers consultancy services for organizations looking to integrate blockchain technology into their operations.

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11. Nansen

Nansen was originally launched in 2019 as a data analytics platform with a focus on the Ethereum blockchain. It was founded by blockchain professionals Alex Svavenik and Lars Krogvig. Since its inception, Nansen has expanded to include data and insights on other major blockchains.

The platform caters to the data analytics needs of crypto investors, VCs, development teams, and major crypto funds. Although individual investors are welcome to use the platform, Nansen does have a greater focus on B2B services and blockchain developers.

Apart from portfolio analytics and market sentiment analysis, Nansen focuses heavily on wallet activity on major blockchains, giving deep insight into the movement of crypto whales and other influential investors.  If you want to quickly identify emerging trends, Nansen is a great option.

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12. Chainalysis

Unlike the other platforms listed so far, Chainalysis does not cater to individual investors. The data analytics tools on this platform are geared toward other businesses, banks, and government agencies. Chainalysis was launched in 2014 with a focus on blockchain data analytics and compliance.

The platform’s data analytics tools are widely used by government regulators, law enforcement agencies, and financial institutions to keep track of the flow of funds across blockchain networks. This is primarily a paid service for B2B and B2G sectors – it doesn’t have any free offerings aimed at individual investors.

Many of its tools are geared toward security, compliance, and consumer protection. These include transaction monitoring for AML/CFT, screening of high-risk users, customer intelligence reports, and dedicated blockchain analytics for Web3.

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13. Token Terminal

Token Terminal was launched in 2018 by two venture capitalists, Joonas Saloranta and Dmitriy Berenzon, with a focus on delivering more data-driven insights into major blockchain projects.

Token Terminal is great for showing “tokenomics” (the economics behind a token), as well as its rich collection of crypto financial reports. See our companion piece on How to Read Crypto Financial Reports, which is based on this feature of Token Terminal.

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How To Use Crypto Analytics Tools

Intelligent investing has two parts: quantitative and qualitative (or numbers and judgment).

While qualitative analysis can be done using our industry-leading Blockchain Investor Scorecard, you need tools like these to do the quantitative analysis.

In this segment, we will quickly summarize how you can best utilize these crypto analytics tools. We will also identify the best platforms that provide these tools.

Market Analysis

In the blockchain space, market analysis involves looking at things like token trading volumes, price movements, and changes in market capitalization.

Insights gained from the market analysis can be used to decide whether a token is undervalued or undervalued. Ultimately we want to be looking for quality long-term investments that are undervalued, or “on sale.”

Best platform for Market Analysis: CoinMarketCap

Blockchain Analysis

Instead of looking at price, blockchain analysis involves looking at the data recorded on a blockchain. This gives you a deeper understanding of how specific cryptocurrencies are being used by their holders.

Also called on-chain analytics, it involves looking at transaction volumes, mining rewards, wallet balances, token supply, and block times. The single most important metric we look for is user growth.

Best platform for Blockchain Analysis: Token Terminal

Portfolio Management

Blockchain portfolios can include a variety of assets like mined tokens, staked tokens, NFTs, governance tokens, and DeFi investments. Balancing and managing a portfolio requires real-time tracking of all your investments.

Ideally, you shouldn’t be relying on a single platform for your portfolio management needs, especially if you have a highly diversified crypto portfolio. For high-value investments, choosing premium portfolio management services might be a good idea.

Best platforms for Portfolio Management: Glassnode, Messari

DeFi Analysis

Decentralized finance offers investors dynamic new ways to put their assets to work beyond the traditional concept of HODLing. But since DeFi projects are quite distinct from regular blockchain networks, you need dedicated data analytics tools.

This involves looking at metrics like TVL, trading volumes, liquidity, yield farming, market capitalization, and protocol governance. Thankfully, this is quite easy since the blockchain ecosystem has several platforms dedicated solely to the tracking of DeFi projects.

Best platforms for DeFi Analysis: DefiLlama, DappRadar

Risk Management

Blockchain markets are notoriously sensitive to the actions of whales – crypto wallets that hold significant chunks of a token’s supply. Any sudden movements in these wallet addresses can trigger wider ripples in the pricing of a token.

Many platforms provide specialized data tracking tools and services to focus exclusively on known whale addresses and large transactions on the blockchain. Real-time alerts from these tools can help you avoid major losses and even identify promising investment options.

Best platforms for Risk Management: Nansen, CoinMetrics

Investor Takeaway

Investing in blockchain can be risky, but so can the potential rewards. Intelligent investors will diversify well, using strategies like our Blockchain Believers Portfolio.

Within that tiny slice of crypto, we can use qualitative and quantitative analysis to choose quality long-term projects. Blockchain analytics tools can help us with the quantitative side.

The crypto industry is growing up. Risk management and informed decision making are very much possible in blockchain investing, much of this thanks to data analytics tools.

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• Source: https://www.bitcoinmarketjournal.com/blockchain-analytics-tools-for-investors/