There is a wide range of on and off chain signals which cryptocurrency traders are using as indicators. when these indicators combined together they can show a detailed picture of the current state of the market and suggest future price movement of the cryptocurrency market. Token Analyst is a market monitoring tool which focuses on inflow and outflow of the exchange and determines which way the market will move.
The main focus of Token Analyst is on on-chain movement to and from major crypto exchanges such as Binance, Bitstamp, and Bitfinex. Usually, other analysts focus on digital asset price to predict the future price movement but Token Analyst is using a different approach.
The platform is offering subscription-based services to the crypto traders who are interested in viewing exchange inflow. Token Analyst is currently offering two packages, Hobbyist and Pro package. Hobbyist package will cost you around $99 while the Pro package priced at $400. Pro package offers more advanced features. If you are curious and want to have plenty of knowledge you can buy the subscription. You can also use free resources to enhance your knowledge. The platform is also offering plenty of information in free to educate the crypto traders. Some of the things which the platform is offering in free are:
- Bitcoin and Ethereum daily on-chain volume
- Significant whale transactions
- 24-hour transaction count for selected ERC20 tokens
- Live feed of on-chain transactions for major ERC20 tokens
It is said that Token Analyst works well when combined with some other pricing tool which provides real-time information of cryptocurrencies. By comparing on-chain movement of major digital assets with price movement on crypto exchanges crypto traders can get a complete picture cryptoconomy and can also get to know in which direction the market will move in future.
Currently, the cryptocurrency market is a state where it is hard to predict the future price movement. There is so much confusion that the traders are not able to identify important trading signals. There is a need for some analysis tool which can suggest the traders about the future price movement more accurately. Though Token Analyst is claiming to offer such kind of services but it is a newly launched tool which currently does not have many users. We have to wait to until more and more users will try the platform and give their feedback about Token Analyst.
If you have tried Token Analyst, leave your feedback in the comment section. Also, share which other tracking platforms you are using to get a better understanding of crypto market.