Feb. 2022，Grace
With the prosperity of DeFi, the market of encrypted data analysis is also in the ascendant. A preliminary analysis of a DeFi project has been achieved. After using many analysis tools, the author has sorted out five types of DeFi data analysis tools that are relatively easy to use and highly recommended on the market:
-
See DeFi Token data categories: CoinGecko & CoinMarketCap
CoinGecko was launched in April 2014 by TM Lee and Bobby Ong as a powerful data analysis tool focused on democratizing blockchain data.
-
Main functions:
(1) Track DeFi Tokens. Tokens are arranged in Market Cap by default, and users can choose other tags, such as Categories. Then query and track indicators such as Price, 1h/24h/7d change, 24h Volume, and Market Cap.
(2) Xiaobai User Guide. CoinGecko provides novice teaching, vocabulary, and news about the crypto market. It can help you get started quickly and follow the dynamics of the crypto market.
(3) Visualize the historical data of DeFi Token, including Price, Market Cap and Trading Volume. The data performance of the DeFi Token can be preliminarily judged.
-
Recommended reasons:
(1) The DeFi area has been opened, allowing the use of various tags to query Token rankings and real-time information.
(2) The collected data is complete, and 12,523 kinds of DeFi Token data have been collected.
(3) There are many derivative functions, such as NFT special area, novice teaching area, market information push, etc.
Not on a par with CoinGecko is CoinMarketCap . The two functions are similar, with the following differences:
-
DeFi revenue data from a traditional financial perspective: Token Terminal
Token Terminal uses traditional financial key indicators to measure DeFi applications, which is more friendly to users who have just entered the encrypted economy from traditional finance. At the same time, the data of the platform is cited more.
-
Main functions:
(1) Provide standardized indicators to compare the pros and cons of different DeFi.
(2) Users can use indicators such as P/S Ratio, P/E Ratio and Protocol (tokenholder) Revenue to judge the value of investing in a project.
-
Recommended reason:
(1) It is more suitable for users with traditional financial background to evaluate project investment, and the threshold for use is not high.
(2) The number of DeFi included is relatively complete, and the number exceeds 100. There are many indicators, and there are many choices for data quantification.
(3) The data is updated quickly, and the data update frequency for top DeFi projects is 4h.
-
Look at the DeFi project TVL data class: DeFiLlama
DeFiLlama focuses on tracking the statistics of DeFi TVL and has included more than 800 DeFi projects. It can be viewed by DEX, Lending, Yield and other categories. The tags for specific rankings are 1d change, 7d change, 1m change, TVL, and MarketCap/TVL.
-
Recommended reasons:
(1) There are many tracking projects and classification, which is the first choice for viewing DeFi project TVL.
(2) Open the DeFiLlama NFT section to meet the dual needs of DeFi and NFT with one tool.
DeFiLlama TVL by Categories
-
One-stop on-chain data platform class: Dune Analytics & Footprint Analytics
The functions of Dune Analytics (Dune) and Footprint Analytics (Footprint) are generally similar, and both provide one-stop visual data analysis services. You can focus on selection.
-
Little white players, recommend Footprint. 0 Coding is more universal and does not require SQL skills.
-
For players with programming background, Dune is recommended. Real-time raw data requires knowledge of SQL.
Dune Analytics is four years old and has provided queries on five chains of data since its creation in Norway. Allows users to directly extract data and draw various Dashboards with SQL queries. In February 2022, the $69.42 million Series B round closed, bringing Dune's valuation to $1 billion.
-
Recommended reasons:
(1) Customization: Master SQL to query databases of multiple chains, visualize the results, and explore more DeFi project data analysis.
(2) Community sharing: All queries and datasets are exposed by default, and users can directly copy others' Dashboards for reference. Dune also encourages contributions to Query.
While Dune is powerful, SQL has a high barrier to entry. And some Dashboard errors are not maintained in time, and the response speed is relatively slow. What can make up for this shortcoming is a Footprint launched by a Singapore team.
Footprint Analytics closed a $1.5 million seed round led by IOSG Ventures less than six months after its founding. It mainly depends on the friendly and threshold-free data analysis services it provides.
-
Recommended reasons:
(1) No coding SQL qualification requirements. Simple drag-and-drop operations quickly complete the data analysis of the project.
(2) One-click fork query. Currently, it supports querying data of 18 chains, and drilling down to 4 in-depth analysis.
(3) The data is simple and easy to understand, shielding the underlying cumbersome and incomprehensible original data.
The Main Differences Between Footprint & Dune
-
Tracking down large whales: Nansen & Glassnode
Nansen was founded earlier than the summer of DeFi, providing users with data analysis of on-chain wallet transactions in 2019. Even fully paid services are still very popular in the market. The interval between the two rounds of financing A and B is less than six months, and the accumulated financing amount of more than 80 million US dollars is enough to prove.
-
Main function: The most prominent feature of Nansen is Smart Money, which tags more than 50 million Ethereum wallet addresses and tracks their activities, and the natural whale accounts are also invisible. In addition, the Token God Mode activity can conduct a comprehensive analysis of ERC-20 Tokens.
-
Recommended reason: The wallet address analysis is very powerful, and the whales are caught very quickly. It is suitable for players who follow the whales to invest. Although the indicators are relatively simple compared to other platforms, it can be irreplaceable to do one line of work to be sophisticated.
Nansen also has its shortcomings, such as expensive fees, the most basic version costs $149/Month. In addition, the application scenarios of tags are relatively weak. Glassnode is also good for dynamic capture of whales.
Glassnode is different from Nansen's single-point bloom, but multi-dimensional bloom. Not only can you monitor the dynamics of whales through address analysis, but also quickly understand market changes. You can also track the dynamics of ERC20s on-chain indicators such as BTC and ETH from Glassnode Alerts. In addition, Glassnode's weekly report is readable.
Glassnode pays more attention to the entire market research, and the data source is also richer than Nansen's wallet address data. Fees are also relatively cheap. From a comprehensive consideration, Glassnode can be selected; of course, players who are not poor in money can choose Nansen for tracking the whale account.
write at the end
Tens of thousands of tall buildings rise from the ground, and the dragons, crouching tigers, and mountains are all together. The same is true of the encrypted planet. Only by understanding the basic data can we do anything on it. What's more, the encryption market pays more attention to the analysis of news data than traditional finance, so it is critical to choose the right tools.
At present, there have been relatively good answers to questions such as Token data, DeFi project revenue and TVL data ranking, and whale dynamic tracking. But there are still many deep data problems without quality solutions. For example, the analysis of the cross-chain business situation of Binance Smart Chain.
Let us expect the encrypted data analysis platform to open the "internal volume" mode and create analysis solutions that can solve more future scenarios.
Footprint Analytics is a one-stop visual blockchain data analysis platform. Footprint assisted in solving the problem of data cleaning and integration on the chain, allowing users to enjoy a zero-threshold blockchain data analysis experience for free. With more than a thousand tabulation templates and a drag-and-drop charting experience, anyone can build their own personalized data charts within 10 seconds, easily gain insight into the data on the chain, and understand the stories behind the data.
Footprint Analytics official website: https://www.footprint.network
Discord Community: https://discord.gg/3HYaR6USM7
Telegram: https://t.me/joinchat/4-ocuURAr2thODFh
The above content is only personal opinion, for reference and communication only, and does not constitute investment advice. If there are obvious misunderstandings or data errors, feedback is welcome.
Copyright Notice:
This work is the original work of the author, please indicate the source when reprinting. For commercial reprints, you need to contact the author for authorization. Any unauthorized commercial reprints, excerpts or use in other ways will be investigated for relevant legal responsibilities.