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Best Crypto On-Chain Analysis Tools: Key Features, Drawbacks, and More

Petar Jovanović

August 3, 2023

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Harnessing the power of on-chain analysis can be a pivotal factor in solidifying your understanding and making informed choices.

In this comprehensive article, we delve into the fundamental aspects of on-chain analysis and highlight some of the most effective tools to leverage for this purpose.

DeFi Llama

As its name suggests, DeFi Llama acts as your guide through the winding trails of decentralized finance. The platform tracks key metrics on over 1,500 protocols to assess their growth and adoption.

DeFi Llama’s total value locked (TVL) data offers a clear snapshot of capital flowing into protocols. You can quickly compare market caps to TVL to gauge potential. The trading pair explorer helps uncover hidden gems with high liquidity and yield.

With coverage across 150+ blockchains, DeFi Llama provides unmatched breadth. Its open-source ethos also ensures transparency. Whether you’re an investor, builder, or enthusiast, DeFi Llama is an indispensable compass.

Glassnode

Glassnode provides institutional-grade fundamental analytics on crypto networks. Its platform gives you the tools to conduct in-depth research on entities like exchanges, miners, custodians, and OTC desks.

Robust indicators in Glassnode’s metrics library contain insights like network activity, supply dynamics, and transaction volumes. Seamless integration with TradingView strengthens technical analysis.

While more advanced than DeFi Llama, Glassnode delivers unparalleled quality for professionals. With over 10 years of historical data, its commercial-grade analytics provide an essential edge.

Dune Analytics

Dune Analytics has become a premier destination for on-chain data thanks to its free access and visualization tools. The platform allows anyone to analyze crypto networks by creating human-readable SQL queries that output charts and dashboards.

Whether you’re a developer building DeFi apps or an investor researching protocol metrics, Dune empowers you to unlock insights. Prebuilt templates make it easy to track things like exchange flows, transaction fees, and other trends. Custom queries give you the flexibility to analyze anything.

Dune’s accessibility and wealth of on-chain data make it an essential resource. The vibrant community creates an interactive space to learn together.

Nansen

Nansen targets more advanced crypto investors with its robust on-chain analytics. The platform tracks over 70 million labeled wallets to provide context on major transactions and trends. Features like wallet profiling, tracking of exchanges and funds, and discovery tools provide an information edge.

While more costly than free alternatives, Nansen gives professionals an exclusive look into activities like staking, yield farming, and NFT trades. Custom alerts notify you of important transactions. Investors serious about on-chain analysis should explore Nansen.

CryptoQuant

As a free middle ground between Dune and Nansen, CryptoQuant offers versatile on-chain insights. Its indicators analyze factors like exchange reserves, supply dynamics, and holder behavior. Though some charts only go back to 2019, there is still ample data to inform trading decisions.

CryptoQuant makes on-chain analytics approachable for retail traders. With both summary dashboards and detailed indicators, it’s a well-rounded resource. Free access helps overcome the monetary barriers of paid platforms.

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Santiment: Empowering Informed Investment Decisions

Best for: Strengthening your investment decisions by tracking ongoing and emerging social trends.

Pricing: Starting from $49/month. You can pay using SAN tokens or opt for DAI/ETH payments.

Santiment stands as a powerful cryptocurrency analysis tool, offering a wide array of features for conducting comprehensive crypto market research, exploring new opportunities, and analyzing various metrics to make informed investing decisions.

With Santiment, you can leverage specialized tools such as Sanbase, enabling on-chain data analysis with charts for all coins. Recognize crucial market events and stay ahead of the curve. Moreover, the Santiment team strives to provide traders with high-quality insights, offering valuable reports, reviews, and observations in their Insights section and newsletters.

Key Features:

• 20+ on-chain, social, and dev metrics
• Social media listening and analysis features, including top 10 trending words on social media about cryptocurrencies
• Identification of emerging social trends
• Customized alerts for major network anomalies
• Personalized watchlist for weekly coin updates
• Insights and behavioral reports from Santiment’s crypto analysts

Drawbacks:

Despite its powerful features, some users find the UI/UX of Santiment lackluster, leading to an overwhelming experience for retail users. Additionally, a few features may be perceived as relatively useless.

Token Terminal: In-Depth DeFi Analytics

Token Terminal emerges as another robust DeFi analytics tool with a comprehensive range of metrics to explore:

• FDV figures, circulating supply, trading volumes, token holders, TVLs, fees, revenue, token incentives, P/S and P/F ratios, daily active users, and more.
• Data on exchanges, blockchains, and the DeFi sector.
• Financial statements and fundamental analysis of projects.

As volatility remains an inherent part of crypto markets, Token Terminal serves as a valuable tool to stay informed and make well-calibrated decisions, even during turbulent times.

Messari: Abundant Data and Research

Messari offers a suite of products including Messari Research and Messari Data, providing a wealth of information:

• Loads of data with a chart explorer, fundraising metrics, and protocol data.
• Daily research reports covering a vast range of crypto topics, including DAOs, L1 and L2s, Web3, NFTs, Macro, and more.
• Quarterly and year-end reports offering deeper insights.

One point to consider is that much of Messari’s research is not available for free. Accessing the most in-depth analysis requires signing up for a Pro or Enterprise account.

Artemis: Web3 Analytics and Ecosystem Reports

Artemis serves as a web3 analytics platform, offering weekly ecosystem reports with a comprehensive dashboard encompassing:

• Developer activity and protocol usage.
• Data on DEX trading volumes and users.
• Analytics for different L1 and L2 chains.

Artemis also provides valuable free research reports covering activity in various ecosystems, further enriching the analytical toolkit.

LunarCrush

LunarCrush offers one of the most comprehensive overviews of crypto social trends. Its feed and tools allow you to track which coins are gaining the most online momentum and attention.

The platform analyzes social metrics across platforms like Reddit, Twitter, and Telegram. You can see which projects have rising or falling sentiment and activity. LunarCrush also enables social listening for alpha on emerging trends and opportunities.

For traders, digesting social movement is just as crucial as on-chain analysis. LunarCrush makes this process seamless and insightful. Its array of free features makes it accessible for all users too.

IntoTheBlock

IntoTheBlock focuses more on blockchain data and analytics surrounding crypto assets. It captures on-chain signals that can predict price movements and identify opportunities.

Some key metrics provided include exchange flow, concentration by large holders, developer activity, and correlation with other assets. IntoTheBlock offers a well-rounded fundamental perspective on blockchain networks.

The platform also utilizes AI and machine learning for directional signals. This adds a predictive edge to complement its robust data feeds.