Blockchain networks are evolving to be better equipped at processing vast amounts of data daily. Through analyzing this data,, companies in the web3 space are able to make well informed decisions that help to steer their brand away from failure and allow them to improve their chances of success. To help web3 companies succeed, there are several Web 3 blockchain analytics tools that can be utilized that offer valuable insights and visualization of the many blockchain metrics that should be taken into consideration. In this article, we will explore seven of the best Web 3 blockchain analytics tools available.
DeFi Llama
DeFi Llama focuses on aggregating data within the DeFi sector and presenting essential market statistics. By monitoring total value locked (TVL) and other metrics, it enables brands to stay informed and make smart financial decisions. DeFi Llama covers multiple blockchains, including Ethereum, Binance Smart Chain, Solana, Avalanche, Polygon, and Optimism. It allows users to analyze yield farming yields, discover trending new projects and niches, examine NFT market data, and track individual blockchain performances using many different KPIs relative to ones project.
Chainalysis
Chainalysis is a powerful blockchain tool that even governments and regulatory bodies are using to tap into all the data that blockchains have to offer. Chainalysis is designed to help with various compliance solutions, including digital asset transaction tracking, niche data visualization, and other types of onchain data analysis.
Moralis
While Moralis does not provide dedicated web3 analytics tools like Dune Analytics or Chainalysis, it enables developers to retrieve data from the blockchain and analyze it using their own custom analytics solutions. This means that developers can leverage Moralis.io in combination with other analytics tools to gain insights into on-chain activities and perform data analysis on the blockchain.
Coinpath
Coinpath is an advanced crypto surveillance tool that tracks digital assets on the blockchain using APIs and various data tracking formulas. It detects transaction liquidity volumes, individual wallet balances, and other important metrics. CoinPath can be a useful web3 tool for anyone trying to bring transparency and legitimacy to their crypto project.
Coinfirm
Coinfirm specializes in crypto compliance tools since 2016 and offers blockchain analytics across various blockchain networks. Coinfirm helps clients comply with AML and FATF crypto laws, tracks live transactions, and incorporates risk analysis into daily operations to help make the web3 space a safer place to participate in.
Dune Analytics
Dune Analytics is a highly regarded web3 analytics tool. It enables users to extract blockchain data with minimal costs. Users are able to examine various blockchain networks, including Ethereum (EVM), Binance Smart Chain, and Gnosis Blockchain. Dune Analytics is a must use tool for anyone in the DeFi or NFT niches that needs to track and analyze data.
CipherTrace
CipherTrace is a crypto intelligence and compliance tool tailored to exchanges, custody providers, governments, regulators, and banks. It offers anti-money laundering (AML) compliance solutions covering over 2,000 cryptocurrencies. CipherTrace assists in investigating financial crimes, identifying money laundering activities, and ensures compliance with travel rule regulations. It also provides blockchain forensic tools for fraud detection and sanction evasion monitoring. CipherTrace’s focus on anti-money laundering, travel rule compliance, and blockchain forensics empowers exchanges, custody providers, governments, regulators, and banks to proactively combat financial crimes, protect user interests, and maintain regulatory compliance in the rapidly evolving world of cryptocurrencies.
Conclusion
In conclusion, these Web 3 blockchain analytics tools provide valuable insights and visualization for governments, regulators, businesses, and individual investors. From community-driven platforms like Dune Analytics to compliance-focused tools like Chainalysis and CipherTrace, each tool caters to different needs. However, it is crucial to combine these tools with other security measures to ensure the integrity and security of blockchain ecosystems.
