Birdeye Exploration: 5 Key Features of A Leading On-Chain Crypto Trading Analysis Tool
To make highly profitable trades, crypto traders need high-quality data and charts. While some users opt for off-chain trading for security reasons, savvy traders often lean towards on-chain trading for enhanced profit opportunities. Thus, a dependable DEX data analytics platform has become inseparable for traders to optimize their gains. But how can they tell which analysis tool is better?
In today’s blog, we’ll first explore why on-chain trading might be more suitable for crypto traders and the five essential qualities to seek in an on-chain crypto trading data provider.
On-chain vs. Off-chain trading data
Before understanding why on-chain crypto trading data is more beneficial for traders, you’ll need to understand the key differences between off-chain and on-chain trading analysis tools:
- Off-chain crypto trading data aggregator: collects cryptocurrencies’ information from different centralized exchanges (CEXes), such as Coinbase, Binance, OKX, and more. The listing process for crypto on CEXes involves a selective review, varying across exchanges. As highlighted in a source link, this selectivity results in a comparatively smaller number of tokens being listed on CEXes compared to DEXes, as you’ll see below. Examples of off-chain crypto trading data aggregators include CoinDesk Indices, CoinMarketCap, CoinGecko, Shrimpy.
- On-chain crypto trading data aggregator: compiles crypto trading data from various decentralized exchanges (DEXes), such as Uniswap, dYdX, Raydium, Curve, and others. DEXes operate without custodians or gatekeepers, allowing anyone to list a token. This openness results in millions of altcoins being listed and only a few may experience significant value growth. However, the sheer diversity can be attractive to traders seeking unique trading opportunities. Examples of on-chain crypto trading data aggregators include Birdeye, Gecko Terminal, Nansen, DEX Screener.
In essence, on-chain crypto trading data presents both challenges and benefits. While aggregating the colossal trading volume from DEXes is more complex than collecting off-chain trading data, it offers traders the appeal of a broader range of tokens. This diversity is particularly attractive to those looking to maintain a ‘moonbag’ or find and hold the altcoins they believe will undergo substantial value appreciation over time.
This is why crypto traders need a reliable on-chain tool to help them navigate the space better.
The top 5 offerings to look out for from an on-chain crypto trading data aggregator
Let’s look into the key considerations for selecting the most suitable on-chain crypto trading data provider that helps you make the best possible trading decisions:
1. Token’s multichain coverage and filtering systems
The highest value of an analysis tool for traders relies on the quality and presentation of data. It is crucial for an on-chain crypto trading data aggregator to encompass all liquidity pools associated with each altcoin across all available blockchains. Bonk, for instance, has liquidity pools on multiple decentralized exchanges (DEXes) and automated market makers (AMMs) across various networks, including Solana, Ethereum, and BNB Chain. Thus, a comprehensive multichain representation of each token provides traders with a better understanding of its actual pool size on each chain. Additionally, if a project incorporates smart filtering systems to identify altcoins with no total value locked (TVL) from the extensive list on DEXes, traders will find it easier to identify potential opportunities for their portfolios.
2. Accurate real-time price charts
Comprehensive chart quality is also pivotal in assisting traders in making well-informed and decisive trading choices. High-quality tools should prioritize fetching token data, such as candle charts and OHCLV data, in real-time with minimal latency, offering traders insights updated by the second.
3. Trader-friendly UI/UX
Crypto traders naturally seek on-chain crypto trading data aggregators committed to enhancing user interface and experience. You can check a platform’s website on both mobile and laptop for optimization clues. Additionally, in-app conveniences, like bridging, swapping, alerts, and portfolio tracking, also reveal a platform’s dedication to user satisfaction and functionality, especially when integrated with trusted partners.
4. Account upgrades
To level up your trading game, explore platforms that offer account upgrades. While not all platforms provide this option, the benefits, such as access to more advanced analytics, customizable alerts, and even early access to high-growth potential altcoins, can give traders a competitive edge over the others. The pricing for advanced accounts may differ across platforms, so it’s wise to identify the package that aligns with your essential requirements.
5. API package
For those seeking more advanced capabilities, the availability and functionality of an API package can be paramount. Professional traders should choose platforms that offer APIs to seamlessly integrate data into their websites or trading bots. Another important aspect is ensuring that the API offers their desired data streams, such as real-time candle charts, token prices, token lists, and/or others.
Birdeye provides accurate and real-time on-chain trading data and analysis to traders
Birdeye can confidently provide real-time on-chain crypto trading data for users from multichain, including Solana, Ethereum, BNB Chain, Avalanche, Optimism, Arbitrum, Polygon, zkSync, and Base.
Here are the key features that Birdeye offers to crypto traders:
- We gather trading data from over 200 decentralized exchanges (DEXes) and automated market makers (AMMs). The displayed trading data for each token is consolidated from all relevant pools, DEXes, or AMMs where they have liquidity. Our Trending Token list is curated using a smart filtering system, ensuring only relevant tokens are showcased.
- Our use of the latest version of the TradingView candle chart allows for instant data retrieval, potentially outpacing some other platforms by a few seconds. This speed advantage can be important for traders.
- Fueled by our users’ feedback from Twitter, Telegram, Discord, and our dedicated Feedback page, we’re also diligently launching and updating features to enhance user experience and optimize our website display on mobile. We have integrated swap and bridge features, powered by key players like Jupiter, 1inch, deBridge, Mayan. We have other major updates coming up, so stay tuned!
- Birdeye’s PRO package, starting at US$30/month, allows users to access exclusive features to optimize their gains. Those include viewing the top 100 trending tokens, viewing the most active and frequent traders of each token, and many other perks!
- Our Public APIs, separate from the Birdeye PRO package, are free. It allows crypto traders to use our token data, including price, information, and list for their trading bots and websites.
If you use Birdeye, we hope you enjoy the benefits it brings. We constantly improve our UI/UX and have major features in the making, so make sure to follow us on our socials for those exciting new feature announcements! If you haven’t seen something you need on Birdeye, please send us feedback on any of our pages as our team checks on them regularly.
Happy trading guys!
Disclaimer
Birdeye only serves as a supporting tool to help users make informed trading decisions, not giving them financial advice! Please always conduct your own research and take responsibility for all of your investment decisions.
Birdeye — crypto trading data aggregator. Level up your trading experience!
Join Birdeye now at birdeye.so!
