The Crypto Analysis Tools You Should Be Using in 2021(6 min read)

While the media spotlight has centered on bitcoin recently, in truth, cryptocurrencies such as ethereum, chainlink, and binance coin have more than outperformed the pioneering cryptocurrency this year—in some cases by over 600%. 

As ever, appropriate portfolio diversification rarely fails, but deciding which tokens to choose is just as important; pick the wrong one, and it can bring the entire portfolio down.            

Fortunately, the crypto space has an extensive range of tools for analyzing different coins and tokens to help investors make more informed investing decisions. Here are a few of Evai’s top picks.

CoinMarketCap

CoinMarketCap stands as one of the most popular crypto price tracker tools in the crypto space. The platform has been around since 2013, boasts millions of users, and has become the go-to website for tracking crypto price action.

While most people lean on it for its aggregated price data, CoinMarketCap also allows users to track exchange metrics as well as token-centric news.

Visit CoinMarketCap

CoinGecko

In terms of crypto comparison and price tracking tools, CoinGecko is on par with CoinMarketCap popularity-wise. The platform tracks over 6,000 coins and claims a user-friendly and intuitive interface.

The frontpage of the CoinGecko crypto ranking platform
Image: CoinGecko

In addition, CMC also tracks exchanges, community growth, code development, and serves as a  news aggregator—making it a comprehensive tool for any crypto aficionado.

Visit CoinGecko

Messari 

Messari goes above and beyond the typical cryptocurrency price aggregators on this list, serving more as a market intelligence and analytics platform. The site relays on-chain metrics, including transaction volume, active addresses, and even proof-of-stake token rankings and developer activity. 

A list of cryptocurrencies on the Messari website
Image: Messari

Meanwhile, within its dedicated research and analytics section, Messari delves into pertinent topics relating to decentralized finance (DeFi), staking, as well as more macro themes such as the US election and its impact on the crypto sector.  

Visit Messari

CoinStats

CoinStats is another promising tool for researching new and potentially lucrative investments. Available on web, desktop, mobile—and even Apple Watch—CoinStats offers a vast array of insights ranging from price history and transaction volume to team updates and news.

coinstats insights section showing statistics on crypto
Image: Coinstats

CoinStats also provides in-house statistics to show how particular tokens stack up against each other in terms of dominance and indicate whether traders are mostly buying or selling that day.

Visit CoinStats

CoinCodex

Coincodex is a straightforward, user-friendly application for tracking crypto markets with a corresponding live chat for discussion. Within the app, users can track the market prices of their favored tokens and monitor their holdings over time, giving them insight into historical performance.

coincodex cryptocurrency tracker depicting data
Image: CoinCodex

CoinCodex also boasts a reviews section with in-depth guides on the best exchanges, wallets, and casinos.

Visit CoinCodex

CoinTracker

CoinTracker is a simple, no-frills crypto tracker, available on Desktop, iOS, and Android. It shows the spot price, market cap, and volume of thousands of cryptocurrencies. But what truly gives the platform an edge is its tax capabilities. CoinTracker enables investors to keep tabs on their tax obligations by tracking crypto trades and integrating with traditional tax software—though there is a subscription cost attached. 

A mac laptop showing a cryptocurrency chart
Image: CoinTracker

In addition to the crypto tax app, CoinTracker has a wallet tracker and portfolio manager. The wallet tracker is free and syncs between 300 wallets and exchanges.

While this tool doesn’t necessarily have the advanced analytics features of many of the other options on this list, it’s a good choice for those who want a clearer picture of their trading tax implications.

Visit CoinTracker

Cryptowatch

Owned by the cryptocurrency exchange Kraken, Cryptowatch combines price tracking with news aggregation and exchange integration. The platform covers a variety of metrics, including cryptocurrency correlation and market depth, as well as a range of useful trading tools and indicators for traders to analyze charts such as moving averages and Bollinger bands.

Cryptowatch offers free credits to its users, incentivizing them to switch over from legacy apps like CoinMarketCap. They’re also one of the few price trackers to have a native desktop app—which may be necessary for full-time traders.

Visit Cryptowatch

Evai

Soon to join the ranks of cryptocurrency tracking and analysis tools, Evai is pioneering an objective, unbiased, and decentralized rating system for the crypto market.

To do so, Evai leverages industry-leading analytics based on academic research and couples it with artificial intelligence and machine learning. The outcome is accurate, decentralized, and impartial crypto ratings.

a mobile, ipad, and macbook displaying the evai.io website

The platform uses a proprietary rating system dubbed “The Bridge,”  which evaluates cryptocurrencies based on six essential criteria, including Liquidity, Systematic Risk, Profitability, Momentum, Peak to End Value Demand, and investment.

Evai also has its own eponymously named proof-of-stake token, which serves as an incentive for the community to assist in developing Evai’s open-source ratings model.

Visit Evai

Choosing the Best Platform For you

As a cryptocurrency investor, whether it’s your first transaction or your 1,000th, it’s important to do your due diligence when taking the plunge on an investment. Not all cryptocurrency research tools sites are created equal, and the return on investment for your crypto may be affected by the responsiveness and quality of the tools you use to conduct your research.

Overall, all the ones listed in this article are solid options. Deciding the best tool for you will come down to your needs and preferences. Regardless, it’s critical to have the most accurate information if you’re thinking about investing in crypto.

If you’re interested in learning which tokens to invest in and which to avoid, then be sure to explore Evai. Evai is committed to pioneering up-to-the-minute, unbiased information and reviews of cryptocurrencies using the most advanced processes in the industry.

Read more: The best ICO tracking platforms of 2021

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