🔎5 less-known crypto tools you need to try
A lot of crypto tools have been launched in the past 2 years.
The best part is that many of them are free, and you can gain an edge over others by leveraging them.
In this post, I’ll cover 5 less-known free crypto tools that I find extremely helpful and their most interesting features.
Let’s dive in👇
Today’s email is brought to you by Hercules - A friendly fork of Camelot coming soon to the Metis Ecosystem
Spotonchain is an AI-powered crypto analytics platform.
It’s one of the tools that I use the most for finding on-chain insights.
It has a lot of useful features, such as an on-chain news feed, a visualizer tool that streamlines complex blockchain transactions, and personalized alerts.
The most interesting one in my opinion is the streamlined on-chain news feed.
This provides “on-chain signals” that cover the on-chain transactions of whales, smart money wallets, and VCs. It can be useful to monitor what the smart money is doing on-chain.
Several VCs buying the same token is sometimes a sign that the project with that token is set to make a major announcement soon.
On top of that, if you search for a certain token on the platform, you’ll be able to find a lot of interesting information related to it, such as:
CEX Netflow volume
smart money moves (is smart money buying or selling that token?)
largest recent transactions
Typically, a large negative CEX netflow volume is a good sign for a token, as the fewer tokens remain on exchanges, the easier it is for it to pump.
The team behind Spot On Chain also confirmed an airdrop for early users a while ago.
If you want to give it a try, check it out here.
Together with Hercules
Metis L2 is gearing up for a huge ecosystem incentive program of over $300M.
To capitalize on Metis’ potential growth, Hercules, a new DEX with lots of innovative features, is set to go live on Metis in the near future.
Hercules aims to become Metis’s leading DEX in terms of TVL and innovation.
Here are the features that make it stand out:
Dynamic AMM - supports both volatile and stable pairs
Concentrated Liquidity complexity abstraction - which significantly simplifies the liquidity provision process
liquidity position NFTs - all Hercules LPs are granted the ability to wrap their staked positions into NFTs
Customized launchpad - a custom-built platform that offers several token launch strategies
What’s more, Hercules is set to launch its token through an IDO in Q1 ‘24. The launch date will be announced on its social media accounts.
Hercules is a friendly fork of Camelot, the largest native DEX on Arbitrum, and aims to replicate its success on Metis.
The project has just released a bounty campaign with exclusive prizes for participants.
Lore is a novel AI-powered multi-chain Explorer.
With Lore, you can search for popular wallets, transactions, contracts, and other on-chain data in natural language.
On the platform, you can:
analyze wallets & find a translation for what a certain transaction does
set advanced notifications for a wide range of on-chain events (get notified when the stats of a liquidity pool exceed a given threshold, or when the USD prices of certain tokens reach a certain level)
see the network stats of the most popular blockchains
use LoreAI to understand what’s happening in a transaction / smart contract
The team behind Lore is also working on a very interesting automation layer for DeFi dubbed Lore Stories. With Lore Stories, users will be able to automate on-chain actions as a response to certain on-chain events.
It will make it possible to automate swaps, manage loan and margin positions, take profits, and set up recurring buys using Lore’s trigger templates.
Arkham got a lot of attention last year, and I covered it several times on my X account in the past.
But I think that’s worth highlighting it once again as its team released a lot of interesting features in the past months that not many people seem to be aware of, including:
Arkham’s Swaps - Track on-chain trades for any address across any chain that the platform supports. Swaps can be filtered by a lot of different criteria just like other transactions
Arkham Tags - brief explainers of the activities that an entity or a wallet address has performed on-chain (e.g. early ETH staker, contract deployer)
Oracle - an AI-powered blockchain analyst that can answer questions related to on-chain data
How to use it?
Arkham can be used in a lot of ways, but what led to its popularity in the first place is its wide range of transaction filters. (filter transactions by value, token, time, etc.)
For example, this can be useful for finding the smart money wallets that bought a token with size right before its price exploded.
Another interesting thing that you can do with it is create custom dashboards.
Arkham's database labels hundreds of well-known individuals, venture capitalists, market makers, and centralized exchanges.
For instance, you can search for the most popular crypto VCs on Arkham, and then add all of them to your custom dashboard to monitor their activity.
There are many other features that Arkham has and I didn’t talk about it here.
The project also did an airdrop last year and every user received at least $150, and there are a few rumors that it might do a second one.
4. Velo Data
Velo Data is a data app for crypto that was launched in February last year.
It provides futures data, options data, market structure data, and much more. It can be useful to get an idea of what is the current state of the market.
On Velo, you can find charts that show:
the open interest for large caps
the BTC implied volatility
the crypto liquidations
price changes for large caps, top losers, DeFi tokens, and much more
the market volume
how the BTC price reacted to certain recent news headlines
And so on.
The team behind it is also working on an AI-powered chatbot dubbed Velo AI that will be released in the coming months.
What’s really interesting about it is that Velo AI will be able to generate charts.
DexCheck is an AI-enhanced analytics platform with a wide range of features.
I also covered it in other previous newsletter issues, but I wanted to highlight once again its free features that I find the most useful as I use DexCheck regularly.
News Aggregator - this is useful especially for news traders, as it aggregates crypto-related news by category from a bunch of trusted media companies
Crypto Whales Tracker - see what whales are buying/selling in real-time
Crypto Address Analyzer - visualize the PnL and Trading History of EVM and Solana wallet addresses
The team of the platform is constantly shipping new features & tools, and a BRC-20 Tracker & AI Arbitrage Scanner are set to be launched soon.
Those are all the platforms that I wanted to cover today.
In Traditional Finance, in many cases you have to pay hundreds of dollars per month to access the best data tools that offer high-quality data.
In crypto, we’re lucky to have a lot of great tools available for free.
I hope that you found this issue helpful!
That’s all for now.
Until next time,
The DeFi Investor