Token Analyst Monitors Exchange Inflows to Help Predict Market Movements

There’s a wide array of on- and offchain signals that can be used as indicators by cryptocurrency traders. When combined, they paint a detailed picture of the current state of the markets, and suggest which way they may move next. Token Analyst is a service that focuses on exchange inflows and outflows, in a bid to determine which way the money is moving.

Also read: The Struggle to Buy Bitcoin in Crypto-Starved Botswana

Follow the Flow of Cryptocurrency

The cryptocurrency markets exist in a constant state of flux, which can make it hard to cut through the noise and identity the important trading signals. Token Analyst is a market monitoring tool that takes a different approach to the usual Coinmarketcap clones. Rather than focusing on digital asset prices, it’s more concerned with their onchain movements to and from major exchanges such as Binance, Bitfinex, and Bitstamp.

The platform reveals the net change in BTC and ETH over a 24-hour period for each platform, and also offers a subscription-based service for more serious traders interested in viewing real-time exchange inflows. The Hobbyist package is priced at $99 while the Pro package, at $499, includes more advanced features. For the casual and the curious, however, there’s plenty of information that can be sourced from Token Analyst without the need to spend a cent. This includes:

BTC and ETH daily onchain volume

Live feed of onchain transactions for major ERC20 tokens

24-hour transaction count for selected ERC20 tokens

Significant whale transactions

This latter feature covers the BTC and ETH chains, comprising notification of transactions of $500K or more, with a blockchain explorer link provider for further scrutiny.

Token Analyst works well when combined with a pricing tool such as Bitcoin.com’s Markets, which provides real-time information on thousands of cryptocurrencies. Through comparing the movements of major digital assets onchain with the price moves that occur on exchanges, it’s possible to gain a fuller picture of the cryptoconomy and an insight into where the market may be headed next, be it up or down.

What other tracking sites do you use to gain a better understanding of the cryptocurrency markets? Let us know in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.