Ways to maximize your understanding of crypto market through crypto tools
When you believe you have your finger on the pulse of a coin’s or token’s price activity in the cryptocurrency market, something unexpected happens.
Even while it’s practically impossible to get it right every time, using the correct crypto tools can enhance your chances of success.
Here are some of the cryptotools that are free and will help you make more sense of the cryptoworld.
As we are living in the times of inflation let us firstlook about tool that helps us make sense of cryptocurrency inflation.
Table of Contents
MONEY PRINTER
Money printer is a crypto tool that does not take concern about the inflation that irks the federal reserve . It measures inflation of cryptocurrencies and the sell pressure that is caused by this inflation daily on the cryptocurrencies
Cryptocurrencies market are a highly volatile territory and a small amount of inflation can generate a large amount of sell pressure in crypto . It provides you with information regarding issuance rate and daily issuance metrics .
L2fees
A simpler crypto tool that keeps you updated about the transaction fees on ethereum scaling solution including transaction fees for a simple eth transfer. In markets specially such as crypto it is all about the correct time you make sell or buy decision . Next time you make a decision about transaction in Eth ,first visit the simple L2fees so that you don’t end up transacting on an inflated price that makes economically no sense.
Gasss
Looks the while making the projects the they pressed too hard on the letter “S” . The simple humble crypto tool tell you about the transaction fees of all the major cryptocurrency in dollars as well as in the native coin value.It becomes an important source of information as what is an economic decision without proper information . Know the transaction of fees and take a decision which make sense.
Open orgs
Open orgs crypto tool bring you information regarding DAOs . DAOs are an organization run on the internet that has its rules and structure that is defined in a code and not on a paper as usually has been the case. So instead of having a single ceo or board of directors that run the company and make managerial decision , DAOs are collectively owned and managed by its members but it doesn’t even need to be a company really it could just be a group of people who want to pursue some goal together.
open orgs tells you how much crypto and what crypto is being held by DAOs in their treasuries . You might again ask is this information that important to bother about ? yes it is this is important to know because spending by DAOs can be a strong source of sell pressure for a cryptocurrency this is especially important if the DAOs holds primarily the coin or token belonging to the crypto project or protocol which you have invested .
CRYPTOFEES
crypto fees tells you how much people have paid in transaction fees to use a smart contract cryptocurrency or decentralized application over the last 24 hours and seven days .
crypto fees is useful because well it tells you which crypto projects and protocols people are actually paying money to use and this can help you assess whether their associated coins or tokens are undervalued or overvalued.
Relative to these transaction fee fundamentals keep in mind that some crypto projects and protocols have very low transaction fees as such there could still be lots of demand for its coin or token eventhough the transaction fees are low.
So to study whether the demand and value goes similar to the ways it goes in plain finance it is important that we visit the site and make try to make sense of the numbers
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