Nikolas Sargeant
Trading volume is gradually moving away from centralized exchanges and traditional altcoins towards decentralized platforms and smaller tokens. This shift is driven by the desire for increased anonymity and security, as well as the attractive investment opportunities available in these environments.
CoinGecko and CoinMarketCap are good for checking prices, but they can be overwhelming with numerous DeFi platforms. This is where DEXTools comes in. DEXTools is a comprehensive set of tools and services that assist users in navigating the DeFi ecosystem. d
The platform offers analytics, market data, and trading tools. It also provides educational resources to help users understand DeFi. DEXTools has a lot to offer for improving your investing strategy, including DEXTools Academy. Let's explore its features and how you can use them.
What Is DEXTools Academy?
DEXTools Academy provides a variety of resources to assist you in getting started in the DeFi ecosystem. These resources cover a range of topics, including the platform itself, cryptocurrencies, and relevant news. By utilizing these resources, you can enhance your knowledge and understanding of the subject matter.
The Academy's educational videos are available for free on YouTube. These videos are designed to be accessible to users of all skill levels, whether they are beginners who are new to DeFi or experienced traders looking to enhance their skills.
What Is DEXTools?
In the past, it was difficult to obtain comprehensive information about DeX trading. There were no analytics tools available to provide a detailed trade history for small cap tokens.
You can track transactions with block explorers, but it takes a lot of time and you can only track one token. However, there are hundreds of interesting projects out there. This is where DEXTools comes in to bridge the gap.
DEXTools is an analytics platform. It provides real-time data and insights on popular DeFi protocols and assets. The platform has an analytics dashboard. Users can track their investments, view historical data, and compare different protocols and assets.
The information is presented in a user-friendly interface. This interface allows users to easily identify trends and patterns in the data. With the help of various features, users can make data-driven decisions. We will go over these features in detail shortly. DEXTools is not just for advanced traders. It also provides educational resources like tutorials, guides, and webinars. These resources can help users grasp the complex world of DeFi.
DEXTools Core Features
DEXTools provides a variety of features and functionalities to assist users in navigating the complex decentralized finance ecosystem. Here are some of the main benefits of using the platform.
Real-Time Pricing
Price tracking websites often have a delay in displaying live prices. However, DEXTools provides real-time stats. This is beneficial because it can help you save money when placing market orders. The price you see on your exchange may be lower than the price at which your trade is actually initiated.
We conducted tests on small-cap coins to evaluate this feature. Based on our testing, the price chart is updated almost instantly, but not all transactions are displayed in the transaction history. It appears that only occasional small transactions are not listed in the transaction history, but this does affect the accuracy of the price chart.
Pool Explorer
The pool information section allows you to monitor liquidity trends for any token pair. You can see the number of completed transactions, the total liquidity, and the percentage of liquidity that is locked and for how long. This feature also provides quick access links to important information and includes a convenient add to MetaMask button.
Pair Explorer
The pair explorer feature gives users detailed information and analysis on individual trading pairs. When you open a trading pair, you can see its historical data, including price, volume, and order book depth. You can also see real-time data like the current bid and ask prices and the spread between them. The Pair Explorer feature also offers charting tools similar to those from TradingView. You can switch between different chart styles and add advanced indicators.
Trending Tokens
The DEXTools dashboard shows currently trending tokens and trading pairs. You can filter the results by the network, token age, safety score, community rating, trading volume, or decentralized exchanges. If you need more options, you can create custom filters.
Profit & Loss Tracking Feature
Tracking your profit/loss ratio is simple when you only have one position open. But it can become confusing when you're trading across multiple pools. That's why DEXTools has a built-in P&L tracking feature. This feature includes a history function that allows you to easily keep track of your trading decisions and improve your strategy over time.
MutliSwap & MultiChart
DEXTools allows users to analyze up to 10 charts at the same time and develop their trading strategies. In addition, users can open multiple trading pairs using MultiSwap on a separate browser tab, allowing for faster trades. This feature enables users to employ advanced trading strategies and manage risk effectively. For example, users can execute a trade on a highly liquid trading pair with a small spread, while also executing a trade on a less liquid trading pair with a larger spread.
Closing Thoughts
DEXTools is a tool used in the DeFi ecosystem. It provides real-time data and insights on popular DeFi protocols and assets across 60+ networks. The platform offers features like Pair Explorer, which gives users detailed information on trading pairs and market trends through TradingView. Price Notification updates users on the latest price trends and important price movements. Additionally, users can execute and monitor multiple pairs simultaneously with MultiSwap and MultiChart.
The company has a promising future, assuming there are no hidden issues. The utility token DEXT also has potential for growth, especially since its prices are currently low. If you're interested in the DeFi space, it's worth considering DEXTools.
