Websites like Coingecko are great for checking prices. However, for experienced and active traders, more tools are needed to evaluate token prices. That’s what DEXtools was made for.
DEXtools is an price data analytics tool which helps traders to more easily navigate decentralized networks. One of the most important features of the platform is the ability to keep a record of the live price of tokens. So, let’s jump in and introduce you to the basics of Dextools.
What does the DEXtools platform offer?
DEXtools allows traders to have more insight into different tokens. The platform ranks tokens based on different data and allow the community to rank them as well. This can be seen under “Community Ranking.” Furthermore, it gives you live prices and shows you detailed tokenomics, such as liquidity and volume.
One of the most advanced tools that DEXtools offers is the transaction section where all transactions, including size, time, address and price of a selected token can be seen. A good trader can use this information to evaluate the timing of his trades.
How do I use DEXtools?
When you go to DEXtools.io, you’ll see a “launch app” button. Click that to naviagte to the DEXtools app homepage. Here is what it looks like below.
As you can see on the left hand corner the Uniswap Tools and Sushi Tools sections. These are the two DEXs on the Ethereum network which which DEXtools analyzes. There will be more Ethereum DEXs integrated with DEXtools in the future. DEXtools has also expanded their services to the Binance Smart Chain and Polygon mainnet.
The problem with most websites that keep a list of prices is that the prices are several minutes behind the live price. DEXtools is almost 100% accurate. So, it’s always best to check the price here first before purchasing a token. In the middle section of DEXtools you can see coins that are trending.
To find a chart for the token you’re looking for, you may enter in the name of the token or the contract address in the search bar for the DEX you’re using.
Here you can see the chart for the Token Floki Inu.
This page will have helpful information about a certain token such as the total liquidity, the DEXtools score, and the community rating. You can also see how many token holders there are. To the right is a candlestick chart which represents a graph of buy and sell orders. If you scroll down from the chart, you will see more details about the buy and sell orders including wallet addresses and amount of the token bought or sold. You can see every transaction made for this token, including quantity and price (see below).
With some experience, you can use this tool to see the amounts and sizes of buy orders coming in and whether whales are buying or selling.
Knowing how to use DEXtools is important for any trader that uses decentralized exchanges. It’s always good to ensure what the realtime price of a token is before hitting the buy button. Knowing how to use the platform also has a number of advantages that can give someone the edge the need to bring gains to their portfolio.
If you liked this article you might also be interested in learning about Pancakeswap.
This article is not financial advice. Please do your own research before buying cryptocurrency.
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.