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 a 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 allows the community to rank them as well. This can be seen under the “Community Ranking” section of the website. 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 button to navigate to the DEXtools app homepage. Here is what it looks like below.
As you can see on the left hand corner there is a Uniswap Tools and Sushi Tools sections. These are the two DEXs on the Ethereum network 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.
Accurate pricing
The problem with most websites that keep a list of token 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. As for some tokens the price fluctuates heavily, this feature can save you alot of money and allows you to trade with more confidence.
Trending Tokens
In the middle section of DEXtools you can see coins that are trending. This section is useful if you want to hop on to the next trend or if you just want to see where the money is currently flowing.
Charts and Tokenomics
If you are looking for the charts and tokenomics of a specific token, you may enter in the name of the token or the contract address in the search bar for the DEX you’re using. Make sure you use the correct name and address, as for many coins and tokens there are fake and fraudulent tokens around.
Here you can see the chart for the Token Floki Inu.
This page will have helpful information about your token such as the total liquidity, the DEXtools score, and the community rating and amount of token holders. On the right side of this section you can see the candlestick chart and the price movement of your token. This tool allows you analyze patterns and adjust time frames.
Transaction overview
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).
These transactions are recorded on the blockchain and DEXtools features them here in real time. 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. You can also check your own transactions here.
Final thoughts
Knowing how to use DEXtools is important for all traders that use decentralized exchanges. It’s always good to check 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 they need to make better gains.
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.
