In the phase of a challenging regulatory environment, decentralised finance continues to disrupt the digital currency by presenting a different way for investments and transactions. Decentralized finance (DeFi) removes intermediaries, including banks and other financial institutions. It gives power to crypto investors to control their assets without a central authority and delays the transaction. This is all possible because of smart contracts, which are self-executing agreements based on blockchain technology. This article is all about DEX Screener a tool used in DeFi token analysis.
As time passed, decentralized finance has transformed into a very large ecosystem filled with different financial solutions, investment platforms, and analytical tools. In several ways, this platform is directly competing with traditional finance offering many ways for profit and the management of funds in a decentralized manner. Traders can take part in lending their Cryptocurrency and can trade on multiple decentralized trading exchanges, and can also earn interest on their digital assets.
Overall we can say that decentralised finance is famous for its transparency, accessibility, and the capabilities for reduced fees. The landscape is very difficult, cryptocurrency markets are highly volatile, global regulations are still in the developing phase and the decentralized field is often targeted by scammers.
Before understanding the fundamentals of cryptocurrency, you have to grow your skills by becoming an expert in crypto analytics tools that can help you understand the difficulties of decentralized markets. DEX Screener is one of the leading platforms for real-time Defi data.
DEX Screener is a platform designed by Alexandre Bini, It includes many analytics tools designed for DEX traders. This platform enables investors to track and examine data from different decentralized exchanges. DEX Screener offers many services, like real-time insights into essential metrics such as token prices, liquidity, market capitalization, and transaction volumes.
What Are DEX Screener’s Key Features?
DEX Screener offers a group of functionalities designed for investors and traders to make knowledgeable decisions in the decentralized space and profit from investments in the assets of their choice. Here are some key features of the platform:-
DEX Screener allows traders and investors to monitor real-time price data for tokens across different decentralized exchanges. Investors can track price movements and historical charts, so that they buy before a given crypto makes a high growth or Sharp downfall. DEX Screener also displays information such as liquidity pool sizes, trading volumes, and liquidity provider fees. This can help people gain deep knowledge of the Market.
Investors can also use DEX Screener to get knowledge of the market cap of different tokens. The DEX Screener platform calculates each crypto’s market cap based on token prices and circulating supply and informs you about different coins’ market caps.
The DEX Screener platform allows you to create a watchlist, and you can also track specific cryptocurrencies in which your interest is high. Also, you can set a price alert for a certain limit if the coin price then this platform informs you about that price so that you can minimize your chance of loss.
There is a Multicharts feature, by which you can compare multiple tokens side-by-side to better identify the token price. DEX Screener gives you up to 16 different slots for displaying tokens simultaneously.
The platform’s new pair explorer can also be used to discover recently added trading pairs on various DEX platforms. You can analyze real-time charts for new trading pairs, check historical data, top traders, holders, etc.
Trending Score
DEX Screener assigns a “Trending Score” to every token on its platform. It’s a snapshot of a token’s current market activity that considers different factors that might indicate a coin’s capabilities for gaining attraction and can also create investment opportunities. Users can sign in with Google, Apple or by connecting wallets if they want to sync their settings, lists, and alerts across different devices.
Apart from that, the DEX Screener is available freely through its website and apps for Android and iOS. This platform’s priority is free and open access, making it easy to use for all crypto traders interested in exploring DeFi through this invaluable resource.
DEX Screener is a powerful and easy-to-use platform that provides experienced traders with many capabilities.
Here are some basic tips for using DEX Screener:-
1. Exploring New Token Pairs
To explore new tokens, you have to click the menu button on the left side and click on the new token button. After clicking on this button, you will see a list of various tokens recently added to DEXs. This feature helps to stay updated with recently launched projects.
2. Exploring Chains and DEXs
On moving the left side downwards, you will find the list of all chains. Upon choosing one of the chains, for example, the Bitcoin blockchain, you’ll see the dashboard containing Bitcoin-based tokens, including the price chart, trading volume, makers, unique wallets that traded the pair, market capitalization, and price change charts.
Above the chart, you will find different types of buttons to customize the dashboard. For example, you can choose last-hour charts or select a “Trending” screener based on the preferred period for calculating the Trending Score.
The blockchain selection option is also available on the top side of the New Pairs and Gainers and Losers section. When you click on the top bar, it provides you with a list of DEXs.
3. Analyzing Token Performance
If you want to search the performance history of a specific token, then you have to click on the search bar option and type the name of the asset. The results will show a list of pairs for that token. After choosing the pair, you will be redirected to a page with a price chart and additional real-time data below, including transaction date, type, price, maker, etc., top traders, and holders percentage, amount, etc.. You can also set an alarm for a certain price alert at which you want to buy or sell your assets.
On the right-hand sidebar, you’ll typically find compound information about the project with links to its website and social media, plus additional features, such as a watchlist, alerts, and trading functionality linking to DEX platforms.
4. Tracking On-Chain Data
Getting well-known to transaction history is a very important part of the pre-investment. On customizable screeners, you can view recent Trades for a particular token, including the price of that token, trading volume and time of each transaction. This can provide important information about trading activity and potential market sentiment. If you want to focus on specific pairs, DEX Screener allows you to create unlimited watchlists for specific tokens. You can easily monitor different tokens and asset investment opportunities using several metrics.
How to Trade On DEX Screener?
DEX Screener is not only a data-providing platform that supports crypto traders to make informed decisions but also a trading tool. It works like a bridge between investors and trading protocols, enabling them to buy or sell assets of their choice. This function is always available on the right-hand side of every token page.
It allows traders to trade within the DEX Screener platform through a pop-up window. Alternatively, it provides a direct link to the supported platform. If you choose DEX Screener you can also expand the size up to full screen for convenience. If an investor provides too high an amount for a given pair, DEX Screener issues a price alert warning that the transaction will affect the market price, resulting in a loss for the user.
There is the option of a Tip for the platform while making a transaction through DEX Screener. The default amount is set at 0.3 percent of the transaction value, but you can also set it to “No Tip” or a higher amount according to your choice.
All we can say is that DEX Screener is one of the best one-stop shops for crypto analysis and trading on the decentralized markets. The platform also comes with its own Discord server for traders and analysts to share potential opportunities.
DEX Screener Alternatives
While exploring DEX Screener alternatives, different platforms offer valuable analytics and information tailored for the DeFi community. DeFi Prime is one of the notable options, which provides a range of analytics and digital media services. The DeFi Prime platform is designed to support users in navigating decentralized finance.
Another strong competitor is APY Vision, which focuses on tracking gains and impermanent losses. This tool is particularly beneficial for DeFi investors and protocols, helping them make informed decisions based on real-time data. This platform supports various networks like Ethereum, Polygon, and Optimism.
DeFi Rate allows users to compare and discover the best cryptocurrency applications. The DeFi rate platform is an excellent resource for those looking to enhance their Web 3.0 journey by finding optimal tools and services.
For those investors which interested in Ethereum layer 2 scaling, L2BEAT provides important analytics and research. This site offers important data that can help investors understand the evolving landscape of layer 2 solutions.
Lastly, DeFiLlama stands out as one of the largest total value locked which gathers important information, tracking popular chains and their decentralized applications. It serves as a vital resource for anyone wanting to keep tabs on the performance of various DeFi projects.
