The crypto market is a moving target.
Just when you think you’ve got your finger on the pulse of a coin or tokens price action it moves in an unexpected direction.
The reality is that getting it right every time is next to impossible even so you can increase your chances of success by leveraging the right crypto tools.
That’s why today I’m going to tell you about some of the best crypto tools I’ve come across and how to use them to maximize your crypto gains.
The best crypto tool to add to your belt is actually a Bundle and that’s Crypto Fees open orgs money printer and l2 fees by cryptostats and the smart contract cryptocurrency gas tracker by own chain.
So starting with Crypto Fees what this tool is all about is clearly noted at the top of the page quote there’s tons of crypto projects which ones are people actually paying to use.
If that didn’t make it clear enough Crypto Fees tells you how much people have paid in transaction fees to use a smart contract cryptocurrency or decentralized application over the last 24 hours and seven days.
Crypto Fees is useful because it tells you which crypto projects and protocols people are actually paying money to use and this can help you assess whether their associated coins or tokens are undervalued or overvalued relative to these transaction fee fundamentals.
Keep in mind that some crypto projects and protocols have very low transaction fees as such there could still be lots of demand for its coin or token even though the transaction fees are low.
Now some would argue that higher transaction fees equals more demand but that’s a topic for another time.
Now the next tool in this Bundle is open orgs which like CryptoFees clearly states what it’s about at the top of the page quote dows are the new companies what’s on their balance sheets.
If that didn’t make it clear enough open orgs tells you how much crypto is being held by dows and what’s cool is you can see which cryptos they’re holding in their treasuries by clicking on the little arrow next to the treasury balance.
This is important to know because spending by dows can be a strong source of cell pressure for a cryptocurrency.
This is especially important if the dow holds primarily the coin or token belonging to the crypto project or protocol which you’re presumably invested in.
If you’re a fan of said project or protocol then there’s money printer which actually has nothing to do with the Federal Reserve.
Money printer is a tool that keeps track of how much annual inflation there is for major cryptocurrencies and how much potential cell pressure this inflation is creating on a daily basis for their respective coins as with crypto fees.
It’s important to remember that a small annual inflation rate can still translate to a massive amount of daily cell pressure depending on the market cap of the crypto in question.
Now you can easily toggle this setting by clicking on the issuance rate and daily issuance tabs.
L2 fees is more straightforward as it’s a tool that tells you the transaction fees on Ethereum’s most popular scaling solutions including transaction fees for a simple ETH transfer as well as a more complex token Swap.
This can help you save money when transaction fees on Ethereum are high.
This ties into the last tool in the bundle and that’s the Gas Fees Tracker.
By own chain which is seriously underrated probably because of how the website and the tool is named which is just gas with many s’s.
As you can see the gas fees website shows you the transaction fees for most major cryptocurrencies both in their native coins and in US dollars.
This can be extremely helpful when you’re trying to say move cryptocurrency between exchanges or need to move a token like a stablecoin between wallets.