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Decentralized finance (DeFi) embodies a landscape of freedom and opportunities for seasoned cryptocurrency investors. It offers considerable advantages over centralized exchange (CEX) trading by removing intermediaries, reducing institutional oversight, and providing no-KYC investment alternatives at relatively low fees. Essentially, decentralized markets empower users globally to generate income online, regardless of their geographical location and the restrictions set by traditional exchanges.
With increased independence, transparency, and cost-effectiveness, DeFi is an attractive choice for experienced traders who are well-versed in the markets. Furthermore, it can act as a profitable revenue stream for beginners who have a strong grasp of the basics and workings of digital assets. No matter your level of cryptocurrency expertise, you can boost your efforts with advanced tools that offer reliable data and up-to-date insights into market dynamics.
What is DEX Tools?
DEX Tools is a trading platform and advanced analysis tool that provides real-time insights into decentralized markets. It tracks and consolidates crypto data from decentralized exchanges (DEX) into a single user interface. The application offers tons of handy features, allowing investors to better understand their activities and keep a closer track of market developments.
Launched as a public beta in June 2020, DEX Tools has quickly grown from a small project into one of the leading apps for tracking DeFi portfolio and cryptocurrency prices. Currently, the platform supports over 106 blockchains, over 6.5 million pools, and more than 10.1 million tokens.
DEX Tools continues to evolve, improving its back-end and UI based on user feedback. The software is available as both a web-based and mobile app for iOS and Android.
What is DEXT?
DEXT is DEX Tools' native utility token, which grants access to exclusive functionalities through holding or a monthly subscription. The currency also provides entry to premium trading groups and community initiatives like DEXT Force Ventures. Other DEXT-based features include advanced analytics, exclusive data sets, extra price alerts, and other utilities unavailable for free users.
DEX Tools was initially launched with 200 million tokens half of which belonged to the team. The platform owners decided to burn 50% of their tokens, reducing the total supply of the currency to 150 million DEXT. The platform switched to a deflationary model and continues to burn 10% of tokens used to pay for fee-based features each month.
The company also provides The Burn Dashboard detailing the process and informing about forthcoming burns.
Dex Tools Features and Core Functions
DEX Tools provides comprehensive tools to help investors track and analyze the DeFi space. With the DEX Tools suite, users can monitor market movements, keep an eye on large transactions, follow their favorite traders, and dig into all sorts of real-time data to boost their game. Here's a brief overview of the platform's core features.
Real-Time Data on Defi Assets
DEXTools.io provides real-time analytics on dozens of tokens and pairs, keeping traders abreast of the latest price movements and liquidity levels. The app's data lets users make spot-on decisions based on accurate and up-to-date information.
Charting Tools
With DEX Tools, traders gain access to sophisticated charting tools, such as Multichart, for in-depth analysis of token performance. The suite includes indicators such as volume profiles, moving averages, Fibonacci retracements, etc., making it easier for traders to nail trends and patterns for better decisions and higher returns.
Pair Explorer
DEX Tools' pair explorer enables traders to search for tokens and their pairs on any DEX supported by the app. For instance, if you want to trade Moonriver tokens, simply type or choose Moonriver from the available list, and the app will provide you with a list of Moonriver pools. When you click on a given pool, you can access detailed analytics for that specific pool.
Live New Pairs
The live new pairs feature is a real-time feed for new trading pairs being added to DEXs. This functionality allows you to stay ahead of the game and find out about new token listings before others do. This early information can help you identify investment opportunities, such as tokens linked to innovative and useful projects.
Big Swap Explorer
This feature lets you track and analyze critical crypto transactions involving large amounts of tokens. Big swap explorer allows you to focus on whale trades and identify movements that can impact token prices, especially in lower-liquidity markets, so that you can adjust your strategy accordingly.
Multiswap for Trading
Here's a cherry on the top: DEX Tools is also a trading platform. It integrates with DEXs and allows you to swap tokens directly within the application, eliminating the need to switch between exchanges and saving you tons of time. Additionally, Multiswap helps you optimize trades by finding the most favorable exchange rates across various DEXs.
Other useful tools include stats, desktop alerts, Telegram price bots, price alerts, position trackers, and more advanced trade analytics. There's more if you start digging in, and even more is coming with new improvements.
How To Use DEX Tools?
You can start exploring the web version of DEX Tools without even signing up. To use the app for real, though, you need to connect your crypto wallet – such as a MetaMask, Trust Wallet, Atomic Wallet, etc. – with some cryptocurrency on it. You can do it by clicking a blue "Connect" button at the website's top right-hand corner and proceeding according to instructions.
With your wallet connected to the app, you can dive into the app and examine its features before you move on to putting trade insights into practice. It's crucial that you do an in-depth research into both DeFi and DEX Tools before you start swapping tokens or using any DeFi protocols.
Key issues to focus on include:
1. Analyzing Tokens
Use DEX Tools to analyze tokens on decentralized exchanges, such as Uniswap, SushiSwap, PancakeSwap, or other platforms. Get detailed insights, explore token performance, liquidity pools, historical data, and more through the search bar or by browsing trending tokens.
2. Tracking Big Swaps
Use the big swap feature to explore high volume trades and get a heads-up on market shifts. Find out how following whale transactions may help you anticipate price swings and make better trading decisions, resulting in high-yielding investments.
3. Setting up Alerts
Keep up with market trends by configuring personalized alerts for particular tokens or addresses in your portfolio. With DEX Tools, you can turn on notifications for any trading pair. Once you set an alert in your account, you'll receive a notification via an email, SMS, or app when the price reaches the predetermined level, indicating a buying or selling opportunity.
Overall, DEX Tools is a top-tier application offering comprehensive charts and other advanced utilities. By providing insights into the inner workings and developments of the DeFi market, it can help investors streamline their operations and better allocate their funds.
Frequently Asked Questions
What makes DEX Tools unique compared to other DeFi platforms?
DEX Tools stands out due to its comprehensive analytics, real-time data tracking, and in-depth charting tools that give users actionable insights into DeFi markets. Unlike other platforms, DEX Tools supports over 105 blockchains, tracks millions of tokens and liquidity pools, and provides unique features like Big Swap Explorer, Pair Explorer, and Multiswap, making it one of the most versatile tools for DeFi enthusiasts.
How does DEX Tools’ native token, DEXT, enhance the user experience?
DEXT, DEX Tools' native token, unlocks exclusive platform features and premium access. By holding or subscribing with DEXT, users gain advanced analytics, additional price alerts, and access to premium trading groups. DEX Tools also follows a deflationary model, burning 10% of DEXT used for fee-based features each month, reducing supply over time.
Is DEX Tools suitable for beginners in the DeFi space?
Yes, DEX Tools can be useful for beginners who understand the fundamentals of DeFi and digital assets. The platform’s user-friendly design and extensive resources, like token analysis and alerts, can assist newcomers in navigating DeFi markets more confidently. However, new users should thoroughly research both DeFi principles and DEX Tools' functionalities before trading to make informed decisions.
