Feature upgrade: Crypto Analysis Tools
1 Apr, 2020 · 6 min read
CoinTracking is pleased to announce the debut of yet another free crypto analysis tools extension that will help you dive even deeper when you’re doing cryptocurrency research. We’ve partnered with blockchain analysis firm IntoTheBlock to make the new widgets available for all customers with new crypto analysis tools.
Since the widgets are built into the CoinTracking interface, you don’t even have to do anything special to view them. Just log in, pull up our Coin Trends page and click the Analysis link on the right:
Click the Analysis link and scroll down to see a brand new set of research widgets.
These are the new widgets:
IntoTheBlock now lets CoinTracking users dig deeper when they do coin research.
The charts let you see a number of important statistics and crypto analysis tools related to whatever coin that you’re researching.
For example, you can:
- see whether or not a cryptocurrency’s value is concentrated in the hands of a few wealthy “whale” investors
- find out if the coin’s holders are making or losing money
- judge if investors are using a coin for day trading or as a store of value
Use cases
These built-in charts extensions will give you the data you need to identify pump-and-dumps and other similar scams when analyzing altcoins. You can also use them to determine whether or not it’s time to buy or sell when trading.
How to get even more coin stats
Thirsty for more stats? Just click the Dive Deeper button for more. That’ll take you to IntoTheBlock’s free trial page. Since you don’t have to give out your credit card information to activate the free trial, there’s absolutely no commitment required.
All you have to do is create an account to begin the trial, and you’re in– and if you’re a paid CoinTracking subscriber, you get a 90-day trial instead of the standard seven-day trial.
Sign-up to CoinTracking today!
IntoTheBlock’s Deep Dive feature: a quick tour
IntoTheBlock’s Deep Dive feature consists of 29 different charts and crypto analysis tools and features. There are short videos that explain how each of them work at the bottom of each of the charts’ pages.
The charts are are organized into six different sub-menus: Financial, Network, Ownership, Order Books, Social and Derivatives.
Teach yourself how to use over 25 crypto analysis tools
Just click the metric you want to learn about and scroll down to find out what each metric does and how to use it. The embedded videos explain all the basics.
Scroll down to learn about each metric.
Each of the videos are roughly one minute long. Here’s the explainer video for the In/Out of the Money metric.
Crypto Analysis Tools: Financial Exploring the Deep Dive menu
IntoTheBlock’s Deep Dive menu offers some impressive tools that support both quantitative (general) and technical (specific) analysis strategies. Let’s take a look at some of the most interesting charts that ITB has to offer.
Crypto Analysis Tools: Financial
One of the most notable charts in the financial section is Bulls and Bears. It gives you an instant view of how a coin’s major investors are trading. Because traders that sell or buy less than 1% of the available coins won’t show up on this chart, it’s a good way to filter out the impact of casual investors.
If you look at Bitcoin’s Bulls and Bears chart, you’ll see that that market’s Bulls and Bears have been deadlocked since 2011. This suggests that casual investors may have been the main movers in the market in recent years. For the most part, the whales that joined in 2011 have been holding onto their investments.
Other charts in the Financial category include In/Out of the Money, Break Even Price, Large Transactions, Price, Average Transaction Size, Average Balance, Volatility and Correlation to BTC.
Crypto Analysis Tools: Network
The East vs. West chart in the Network section may be of interest to crypto day traders, since it identifies the times during which a currency is most heavily traded.
The most popular coins are traded all over the world, but newer coins like the altcoin depicted below aren’t traded very much during particular times of the day.
Other metrics in the Network section include: Address Stats, Transaction Stats, Average Time Between Transactions, Average Time Token is Held and Hash Rate.
Crypto Analysis Tools: Ownership
In Ownership, this By Concentration pie chart can be found. It shows that over 88% of all Bitcoins are owned by retail investors. About 10% of all Bitcoins are owned by professional investors, while whales control about 1.4% of the circulating supply.
Other charts that can be found in Ownership include By Concentration, By Time Held and Price.
Crypto Analysis Tools: Order Books
Thinking about joining a new cryptocurrency exchange to day trade Bitcoin or some other cryptocurrency? You may want to check this Bid Ask Spread chart to compare liquidity across several top exchanges first to find out how quickly you’ll be able to place your trades.
Out of the 12 exchanges that this chart supports, Malta-based exchange OKEx seems to have the best Bitcoin liquidity.
Other Order Books charts include Exchange-Onchain Market Depth and Trades Per Side.
Crypto Analysis Tools: Social
IntoTheBlock started tracking and analyzing Bitcoin’s official Telegram channel last year.
While it may be a coincidence, this data shows that a large spike in positive messaging preceded some slow steady price gains. As time goes on, large spikes may be useful in predicting long term trends. Cryptocurrency day traders can zoom in on this chart to look for clues of short-term price movements, as well.
Other metrics you’ll find in the Social category include Twitter, Github, Search Trends and Key News Topics.
Crypto Analysis Tools: Derivatives
Anyone willing to dive into new cryptocurrency derivatives markets can derive their data from these charts. You can either look at how futures are performing on OKEx and Huobi, or analyze perpetual swap markets on a variety of different crypto exchanges.
Build custom charts in Excel from top crypto tools
The newly released Into the Block integration mentioned above adds an entirely new dimension to using CoinTracking. Give it a try and let us know how you’re using it to take your trading game to a new level!
The other stats feature that we’ve integrated recently is Cryptosheets, which gives you the ability to use your CoinTracking data to build your own custom cryptocurrency charts in Excel. Be sure to check out our post about that in case you missed it yesterday.
CoinTracking can help you with your crypto taxes:
- Import (API & CSV) trades from 110+ exchanges/wallets.
- DeFi and Binance Smart Chain support.
- 25+ advanced reports.
- Automatic Gains calculations from 12 accounting methods (e.g., FIFO, LIFO, HMRC, ACB).
- Fully Ready Tax Reports in your country.
Sign-up to CoinTracking today!
All you need to know about crypto taxes:
Crypto Tax Guide for the United Kingdom
Crypto Tax Guide for the United States
- How to report crypto in your taxes?
- What tax forms do I need for crypto?
- NFT Taxes: The Complete Guide for the US
Crypto Tax Guide for Australia
Crypto Tax Guide for Canada
If you need personalized help reviewing your transactions or preparing your US tax returns, check out our CoinTracking Full Service. CT Full Service is provided by a team of crypto tax professionals led by Sharon Yip, an expert CPA. Follow our weekly AMAs on Twitter where Sharon Yip answers your crypto tax questions.
Disclaimer: All the information provided above is for informational purposes only and should not be considered as professional investment, legal, or tax advice. You should conduct your own research or consult with a professional financial advisor when investing.
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