What is TapTools?
4/6/2023
What is TapTools?
TapTools is a comprehensive platform that offers a range of features to manage your Cardano native assets, whether you’re an experienced investor or just starting. The TapTools Pro suite includes hot wallets, wallet profiler, volume profiler pro, and distribution pro, which are essential tools for serious traders to stay ahead of the competition and make informed investment decisions. Additionally, TapTools provides personalized token, wallet, and NFT watchlists giving traders the ability to spot early trends. Our platform is user-friendly and intuitive, making it perfect for both beginners and experienced investors.
If you’re looking for a comprehensive platform to manage your Cardano investments, TapTools is the ideal solution. Visit TapTools today and start utilizing the TapTools Pro suite of tools to manage your investments with ease.
Markets
Top 25: The top 25 chart lists the most popular tokens or NFTs with significant trade history and liquidity in the Cardano ecosystem. The list includes only tokens or NFTs with at least 1 million ADA in lifetime trading volume, providing traders with information on the most actively traded assets in the ecosystem.
Trending: Shows the most actively traded tokens based on their trading over a 24 hour time period. This information is important as it allows traders and investors to make informed decisions based on market trends and investor sentiment, particularly in identifying tokens with high trade volumes.
Top Gainers: Identifies assets that have experienced significant price increases over a specified period. The section lists the top gainers in descending order, starting with the asset that has experienced the highest percentage increase in price.
Top Losers: The top losers section is a valuable tool for investors and traders looking to identify assets that have experienced significant price decreases over a specified period.
Recently Added: This section lists the token trading pairs that have been most recently added to Cardano DEXs. These new tokens generally pose a more significant risk as opposed to established trading pairs, but can also provide opportunities to buy an asset early.
View All: The View All section allows TapTools users to see all listed trading pairs on Cardano DEXs.
Charts
The charts page will present you with the token price chart, trade history which details the last 500 trades, token information, as well as market sentiment indicators.
Overlays that can be added to charts include support and resistance lines, which are levels where traders believe the price of an asset is likely to either bounce off of or breakthrough, and Fibonacci retracement levels, which are based on a mathematical sequence and are used to identify potential levels of support and resistance.
It’s important to note that charts should be used in conjunction with other analysis tools and strategies, and should not be relied on as the sole basis for making investment decisions. As with any investment, it’s important to do your research, diversify your portfolio, and only invest what you can afford to lose.
We’ll now go over some common indicators and overlays:
Trend Indicators:
- Moving Average (MA): A line that shows the average price of an asset over a certain period of time. It is used to identify the direction of a trend and to smooth out price fluctuations.
- Exponential Moving Average (EMA): Similar to MA, it gives more weight to recent prices, making it more responsive to changes in the trend.
- Average Directional Index (ADX): Measures the strength of a trend and helps identify whether a trend is strong or weak.
- Parabolic SAR: A trend-following indicator that helps identify potential reversals in the trend.
Momentum Indicators:
- Stochastic Oscillator: Compares the current price to its price range over a certain period of time and is used to identify overbought or oversold conditions.
- Moving Average Convergence Divergence (MACD): Compares two moving averages to identify changes in momentum and trend direction.
- RSI: RSI (Relative Strength Index) is a technical analysis tool used to measure the strength of an asset’s price action by comparing the magnitude of its recent gains to the magnitude of its recent losses. An RSI reading above 70 indicates an asset is overbought, meaning it may be due for a price correction, while a reading below 30 indicates an asset is oversold, meaning it may be due for a price rebound.
Volatility Indicators:
- Bollinger Bands: Consists of three lines that are plotted based on the asset’s standard deviation and moving average. They are used to identify potential overbought or oversold conditions and to indicate changes in volatility.
- Average True Range (ATR): Measures the average range of price movement over a certain period of time and is used to identify potential changes in volatility.
- Chaikin’s Volatility Indicator: Combines the ADX and the ATR to measure the volatility of an asset.
Overlays:
- Ichimoku Cloud: A chart overlay that uses a combination of lines and a shaded area to identify trend direction, support, resistance levels, and potential trend reversals.
- Fibonacci Retracement: A tool that uses horizontal lines to identify potential levels of support and resistance based on the Fibonacci sequence.
- Pivot Points: A set of horizontal lines that are used to identify potential levels of support and resistance based on the previous day’s high, low, and closing prices.”
Wallet Profiler
The TapTools Pro Wallet Profiler feature is a tool designed for users to track other Cardano wallets and gain insights into successful traders’ investment strategies. With this feature, users can view a comprehensive overview of other users’ asset portfolios, associated wallets, and trade history.
Overview: This page provides an overview of the wallet address’s overall value, trade activity over various time frames, trade summary by volume, as well as top holdings and trading volume by asset.
Portfolio: The Wallet Profiler Portfolio page provides an overview of the portfolio’s value in ada, a chart of the portfolio version over time, assets held in the portfolio, as well as portfolio stats such as Net Worth in ADA & USD.
Associated Wallets: Associated wallets are additional wallets that are linked to a user’s main wallet. The associated wallet feature allows users to track the movement of assets across multiple wallets, providing greater visibility into the overall investment activity of traders.
Trade History: Wallet profiler trade history is a tool on TapTools to analyze the past trading activity of a trader. This tool can provide a detailed summary of a trader’s trading performance, including the type of assets traded, frequency of trades, and profits and losses incurred.
Watchlist
Now we’ll go over the Watchlist feature, which allows you to create a list of tokens or wallets to monitor their price and activity. Creating a token or NFT watchlist is easy. Simply click the star icon next to a token or NFT on the home page or the chart page, and it will be added to your watchlist.
In addition to a token watchlist, you can also create a wallet watchlist feature. By clicking the star icon on any wallet in trade history, wallet profiler, wallet profiler preview, or hot wallets, you can create a list of wallets to monitor. With the wallet watchlist, you can track the address, total volume, volume, last seen (the last time the wallet made a trade), the percentage of the wallet’s portfolio’s ADA value, and the total value of the wallet address.
The wallet watchlist feature is a TapTools Pro feature that is particularly useful for tracking wallets that are involved in frequent token or NFT trades.
The TapTools watchlist feature is an essential tool for any Cardano investor. By creating a token, NFT, or wallet watchlist, you can monitor the price and activity of your investments, identify potential investment opportunities, and stay ahead of the competition.
Hot Wallets
The TapTools Pro Hot Wallets feature is a tool that allows traders to view various metrics related to the activity and holdings of wallet addresses that are actively being used for trading. The feature includes the following information:
Total Volume Traded: The total amount of ada that has been traded by a particular wallet.
Total ADA: This page gives an overview of the total amount of ADA as well as the top Cardano native assets held in a particular wallet, to see the size of the wallet as well as its overall investment strategy.
Token Transactions: This Hot Wallets feature displays the most recent transactions involving fungible tokens.
NFT Transactions: This feature displays the most recent transactions involving non-fungible tokens (NFTs).
These features can be extremely useful for traders as they provide a snapshot of the activity and holdings of a particular wallet. For example, the total volume traded can indicate how active the wallet owner is in the market, and the top tokens held can provide insights into the wallet owner’s investment strategy.
Hot Wallets is an essential TapTools pro feature allowing individuals to monitor the most active wallets to hone in on market trends and potential opportunities.
New TapTools Pro Features
Volume Profiler Pro
TapTools Pro is a suite of advanced trading tools designed to help experienced traders make better investment decisions. One of the most powerful features is Volume Profiler Pro, which provides traders with a comprehensive analysis of a token’s trading volume.
With Volume Profiler Pro, traders can analyze a token’s number of trades, trading volume, buy vs. sell volume, volume by wallet value, weekly trades per DEX, top traders by volume, and trade history.
The ability to filter trade history by time and DEX is a valuable feature that enables traders to monitor a token’s performance across multiple exchanges. Additionally, the Volume Profiler Pro’s list of top traders by volume provides traders with a competitive advantage, enabling them to stay ahead of the curve and make more informed trading decisions.
Whether you are a beginner or an experienced trader, the Volume Profiler Pro feature is an essential tool that can help you make better investment decisions and stay ahead of the competition.
Distribution Pro
The final new TapTools Pro feature we’ll go over is called Distribution Pro. This innovative tool provides investors with in-depth insights into the distribution of a particular token or NFT. With Distribution Pro, investors can track the number of holders and the median holder balance of a token, which can help determine the liquidity and popularity of the token. Distribution Pro allows investors to track the average holding time of a token, providing further insight into the sentiment and behavior of token holders.
Top balances are also displayed by address, giving investors a better idea of how evenly a token is distributed and if there is no official data on this. The tool also includes a graph that goes over holder distribution by value, token seniority distribution, as well as the number of unique addresses holding the token. These metrics can help investors understand if the popularity of a token is growing and whether or not it is a good investment opportunity.
