More recently, dealing with decentralized exchanges (DEXs) has become much more convenient. While most of that credit may go to solutions, such as DEX aggregators and liquidity pools, there is no denying the impact of DEXTools on the decentralized markets.
As with centralized exchanges, trading on decentralized networks requires actionable, real-time data, which it lacked for years. Fortunately, the arrival of DEXTools solved this issue by helping traders navigate decentralized finance (DeFi) markets more easily.
This article will look at DEXTools and what they offer in the DEX landscape. To begin, let’s answer the question – what is DEXTools?
What is DEXTools?
DEXTools is a decentralized application (dApp) that allows traders to access and track information on DeFi markets. DEXTools aggregates blockchain data into a single user interface, enabling DEX users to have a clear view of their trading actions, investments, and the current state of the market.
DEXTools is famous for its diverse functions, offering valuable tools to collect and scale quality data in real time. Meanwhile, its integration with leading crypto projects, like Uniswap, SushiSwap, and PancakeSwap, is one of the platform’s significant perks.
Using DEXTools, DEX users can manage, analyze, and execute trades on a single interface. In addition, it features a pair explorer that enables traders to view crypto trading charts, the transaction of tokens, and the metrics of a token. Meanwhile, the liquidity pool explorer helps users monitor liquidity trends and the creation of new liquidity pools on decentralized exchanges.
That is not all – DEXTools also offers valuable wallet and on-chain information, allowing users to track other traders’ wallets, swaps, and transactions. Wallet information usually helps DEXTools users replicate their favorite traders’ trades or market positions.
Interestingly, DEXTools boasts a native token called DEXT with various functions. For example, unlocking certain services on the platform may require a paid subscription in DEXT tokens. Also, holding specific DEXT amounts provides access to premium crypto trading groups, community initiatives, and other benefits like DEXT Share.
How to Use DEXTools
Upon entering DEXTools.io on your browser, you can access the DEXTools app homepage. You can have a peek at the homepage below.
On the left-hand corner, you will find a list of DEXTools features, including Pair Explorer, Big Swap Explorer, Multichart, Multiswap, Price Bot, and so on. For example, if you want to perform atomic token swaps on DEXTools, click the ‘Multiswap’ button, choose a pair, and then choose your preferred decentralized exchange. After this, connect your wallets to the chosen DEX, and you are good to go.
You can conveniently access the price charts of any trading pair on DEXTools. And these charts are from TradingView – one of the best software for chart analysis. It features numerous charting tools to follow the market, save various analyses, and share them on social media.
You will need to connect your wallet to DEXTools and authenticate ownership of the wallet to get started on the dApp. MetaMask, Torus, MEW, Fortmatic, WalletConnect, Authereum, WalletLink are the available wallets on DEXTools.
Features of DEXTools
Due to its vast infrastructure, DEXTools can provide reliable real-time on-chain data. That said, there are several other valuable functions, all of which are highlighted below.
As its name suggests, the Pool Explorer feature makes it easier for traders to find trending pools on decentralized markets. Also, it helps you observe the liquidity trends of a token more efficiently to know whether the token would move bearishly or bullish.
Additionally, pool explorer provides all the essential links, such as the tokens’ explorers and DEX pages, in a single interface to make it more convenient to verify the provided data. Meanwhile, there is also a quick link to assess the pools’ liquidity via Unicrypt.
The Pair Explorer tool enables you to follow the price action charts and history of digital assets in real-time. Moreover, DEXTools derives a token pair score, helping you identify obvious scam pitfalls.
P&L Tracking Feature
Keeping tabs on your trades can be challenging, especially if you are trading tokens around farming pools. Fortunately, DEXTools has a built-in profit & loss tracking tool that can help you track all your positions across all available coins. In addition, it provides a trading journal that lets you document your trading decisions, which may help enhance your trading strategy over time.
Big Swap Explorer
DEXTools features a Big Swap Explorer tool that allows you to follow big traders, popularly referred to as Crypto Whales. Owing to the amount of cryptocurrency they hold, Crypto Whales are famous for manipulating the markets at will, especially for tokens with limited liquidity.
You can use this feature to your advantage by catching a dip early when you notice a vast whale sale.
DEXTools has a notifications feature that provides you with price changes and other information about your favorite tokens. This tool will help you make informed trading decisions and improve your trading strategies, especially if you employ advanced trading options like derivatives.
With DEXTools’ MultiSwap feature, you can trade or exchange multiple pairs on a single screen. This tool boosts the accessibility of the platform, thereby enhancing your approaches in the market.
DEXTools is one of the best price analytics tools on the market today. However, several other tools can also help you navigate the decentralized market – and the cryptocurrency space as a whole and they include;
DEX Screener is a similar analytics tool that aggregates DEXes across multiple chains such as Ethereum, BSC, Polygon, Avalanche, Arbitrum, and Aptos. DEX Screen offers close to the same amount of chains as DEXTools and offers similar features such as multicharts, alerts, watchlists, and trends.
Shrimpy is a popular platform where crypto enthusiasts can deal with and exchange digital currencies with competitive market standards. On this platform, you can optimize your account for automation in the trading markets while trusting that all your transactions are encrypted with the third-party audit.
The total valuation of market rates is updated daily with live state, according to the trade exchanges. Meanwhile, graph-based analysis demonstrates how stats are altered with progressive or fluctuation mode per day, month, or year.
Neofolio is a cryptocurrency management platform that enables traders to manage their investments with better performance efficiency. It provides a mobile portfolio management application to keep track of multiple cryptocurrencies at the same time.
Neofolio is built with default features, such as portfolio valuation, display, chart view, coin information, and recent news stories, for improved trade monitoring. In addition, it is a secure platform that follows public data safety conducts.
Cryptograf is an excellent digital exchange platform that allows users to monitor their crypto wealth in real-time. This application helps create synchrony between your various portfolio accounts to track your cryptocurrency worth without the trouble of transaction-data entry.
On Cryptograf, you can switch your account to API automation to know the total value of your crypto – all in one place. Other features of this platform include instant balance updates, real-time prices, price notifications, and performance alerts.
What is DEXT?
DEXT is the native utility token of the DEXTools platform. It is a multi-chain token that exists both on the Ethereum blockchain as an ERC-20 token and on the Binance Smart Chain (BSC) as a BEP-20 token.
DEXTools users, who hold a specific amount of the DEXT token, are given access to exclusive features and community programs on the platform. For example, premium holders (at least 100,000 DEXT) automatically partake in the DEXT Share program, which provides them with rewards from other users’ subscription payments.
Although virtually every DEXTools feature can be used for free on any mobile device or computer, a subscription plan offers valuable extras, projects, and opportunities. All you need to do is hold a certain amount of DEXT to procure a DEXTools subscription plan. Alternatively, you can make a monthly payment in DEXT.
The standard plan requires you to hold 1,000 DEXT in your wallet or a monthly payment of 277 DEXT. On the other hand, the premium plan is only available to individuals with at least 100,000 DEXT in their wallet. DEXT is available on several exchanges, including Uniswap, BKEX, and Poloniex, and it can be purchased with Wrapped Ethereum (WETH) or USDT stablecoin.
Becoming profitable in cryptocurrency trading requires a lot of swift actions based on the proper knowledge and information. Luckily, with analytics software like DEXTools, making good decisions early and staying ahead of other crypto traders is more feasible now than ever.