Top 10 Free Tools To Maximise Your CRYPTO Gains in 2024

Ethan
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Trading crypto in this bear market is tough. That's why you need an edge over the rest. And that edge can come from using some of the best tools of the trade. In this article, we'll reveal some of the indispensable resources that we've added to our crypto toolbox this year to stay on top of changes in the market. And even better, most of them are completely free. So if you've been struggling in these markets, this is the guide you literally cannot afford to miss. 


Before I jump into these resources, I just want to say that this article is not sponsored. These are just some of the tools that our team uses on a daily basis. I'll also say that the list is not exhaustive, and there are several other tools out there that you could make use of too.

  

Top 10 FREE Tools To Maximise Your CRYPTO Gains in 2024


1. Newsletters

Okay, so with that out of the way, let's jump into our first pick, which is a resource that will help you stay informed about changes in the market. Now we've all been there, descending into the crypto rabbit hole, losing hours of our lives, popping up occasionally for food, water, and maybe a change of clothes. It sounds like the FTX dorm room at the height of Sbf's empire. Just less sordid, I hope. 


Now, to avoid this fate, it's important to put on your big boy or girl pants and take charge of your sources of news. Silk Road is a daily crypto newsletter and website that provides tools, information, and news to help people become smarter about crypto. 


What I like about Silk Road is that it's short to the point and filled with levity. It's a breath of fresh air amid all those dense crypto reports. It provides real-time data on market trends, a Fear and Greed index, which gives you an idea of whether we're in a phase of buying or selling, and simple breakdowns of complex crypto topics. 


If you're short on time or new to the space, it's a great place to start. And I'm clearly not the only one to enjoy the Silk Road. The newsletter grew to 250,000 subscribers in ten months and was apparently sold for a princely sum not that long ago. Not bad for a one-year experiment. 


Another newsletter I'm a fan of is Axios Crypto, which is authored by Kristal Kim and Brady Dale, an old hand in the crypto space. What I like about Axios crypto is there's no BS. They take a story and break it down clearly into bite-sized chunks, explaining why it matters how to read between the lines and anything else of note.  


2. News Aggregator

Moving on though, the next resource I'm going to talk about will help you level up your research. Though I want to talk about a great news aggregator, Crypto Panic. For those of you used to glitzy news sites packed with pictures, Crypto Panic might strike you at first as a little arcane. But this tool is excellent. 


It aggregates news from various sources, including media, blogs, and news websites, and presents them in a single feed. You can also tell that this website was developed with crypto traders in mind, given the default dark theme. 


Now, when it comes to searching for information, you can filter according to the type of news source blogs, for instance, and also according to the type of content, anything from bullish to bearish news stories to top comments, if that's your thing and if you sign in with a free account, you can create a neat portfolio tracker too. Having the free account also allows you to vote on a number of polls that you yourself can push as well. 



Also Read: According To Binance Research, These Cryptos Could See Big Gains In 2024


3. Telegram

Next up we have telegram groups. Now, I would say telegram is essential if you work in or are interested in crypto. If you've ever been to a crypto conference, you'll no doubt have used telegram to connect with other folk in the community. But it's also an extremely valuable source of information. 


Just note that it's also where a lot of shilling of shitcoins goes down. So stay alert. Now there are three telegram groups to check out. The first of these is Whale Alert. As the name suggests, it tracks large crypto transactions made by whales. 


In other words, those entities who hold enough crypto to potentially move the market. The most important transactions to keep an eye on are movements to and from crypto exchanges, as these can often give you a clue as to whether the whales are going to sell that asset or not. 


The second channel I'll mention here is ICO analytics. Now this channel will give you frequent updates about up-and-coming cryptocurrencies, including VC funding rounds and events for projects. Monitor this channel and you might just get a heads-up about an upcoming pump before others do. 


The third telegram channel to look out for is 100 Eyes Crypto Scanner. This is a bot that detects abnormal price action, including a sudden pump or dump in a short time frame. It even detects bullish and bearish divergences. If you're into technical analysis, this one is most definitely for you. 


4. Vesting

So now that we've covered the news, let's get into the data and analytics. So the next tool in our arsenal for navigating the crypto space is token unlocks. This tool is instrumental in tracking vested tokens, alerting users about imminent unlock events, and offering a thorough analysis of tokenomics. 


The token lock-up, or the vesting period for those who need a reminder, is a predetermined time frame during which tokens are restricted from being traded or liquidated. This helps reduce market manipulation and token dumping to improve a project's stability and is beneficial to investors, project owners, and token holders alike. 


Investors need to know vesting schedules as they dictate the timing of their full control over, and the ability to sell their holdings. But vesting schedules could be even more important for retail investors like us because when tokens are being unlocked, they can technically be dumped on the market. No one wants to exit liquidity. 


So if you're an investor on either side of a project. Token unlocks is a fantastic resource. The platform provides exhaustive details on vested assets and forthcoming token unlock occurrences. If you sign up for free, you'll get their newsletter and tokenomics insight. 


If you're a trader, you might want to check out their paid subscription for more detailed insights like trading strategies, unlocks, activity, and project-specific unlocks. The annual subscription cost is $400, which on the face of it, may sound like a lot. However, if you were to compare it to some of the other data analytics tools on the market, it's actually pretty well-priced. 


5. AI

Now, the next tool in my crypto toolbox is trade GPT, created by cryptocurrency exchange Bybit. Trade GPT is an AI-powered educational tool designed to support crypto traders with real-time market analysis and data-driven questions and answers. 


Think of it like this Chat GPT is great, but it was last updated in September 2021 and isn't useful for tracking the latest market trends and movements. Bybit, though, has oodles of market data trading, analytics, and so on. 


So cleverly, the exchange integrated the two, so you can now ask trade GPT anything you want about the markets. Your imagination is the limit. If you want to track whale traders get a price analysis report of BTC or Bollinger Band indicators. Just ask the AI and if English isn't your mother tongue, don't worry, the tool has multilingual support. 


So if you parler francais, arabe or Portuguese, there's no problem. Just note that you have a daily limit of 20 queries. In order to use trade GPT, you'll need a Bybit account. 


6. Federal Reserve

Next up, we have a great tool to stay on top of macro developments. Now, most of you know how important it is to keep an eye on the US Federal Reserve. The Fed sets the federal funds rate to control the money supply in the system, which can help keep inflation in check or stimulate the economy when it slows down. 


The funds rate is hugely influential, as US interest rates can have a major impact on market prices, both traditional and crypto. Luckily enough, the CME Fedwatch tool does a lot of the heavy lifting when it comes to tracking the Fed and each of its eight annual Federal Open Market Committee FOMC meetings. 


Specifically, CME Fed Watch examines the likelihood of the Fed changing its interest rate target at future FOMC meetings and presents these probabilities in an easy-to-understand chart. If you were wondering how on Earth they get these probabilities, they're backed out of the pricing on interest rate futures. 


So the market's best guess of where the fed could set the rate. It's a really simple tool though. As in just a few clicks, you can suss out the likelihood of a future. Interest rate hike. 


Federal Reserve


In this image, the bar on the left represents the likelihood that the funds rate will stay the same come the next FOMC meeting. While the graph on the right represents the likelihood of a rate hike. And it's not just the upcoming FOMC that this tool looks at, you can use it to predict funds rate hikes many months into the future. The website has very clear demo videos on how to use the tool effectively 


7. Github Tracker

Okay, next up we have crypto miso. Yes, like the soup. If you're a developer, you'll know that GitHub is the most popular Git repository in the world. If you're not a developer, all you need to know is that GitHub is where most developers store and manage their code, collaborate on projects, and so much more. 


So if there's a lot of activity in a crypto project's GitHub, it's a good sign that the project is being improved or the developer pool is growing. On the other hand, if there's not much activity in GitHub, it could be a red flag that the project is faltering or worse, is a shitcoin. 


But then again, you shouldn't rule out a project just because there isn't much activity. In fact, some of the biggest crypto projects by market cap have periods of very little activity. For example, check out this screenshot of Polygon's Matic. 


Github Tracker


Now, Matic is 169th in terms of developer activity, yet 13th largest in terms of market cap. There might not be much developer activity on Matic right now, but you can be sure that it's legit anyway. If you want to keep track of developer activity, check out Crypto Miso. 


It's a platform that ranks cryptocurrencies by analyzing their activity on GitHub. Crypto miso monitors the commit history, i.e. code changes of 222 prominent cryptocurrencies, and displays it all in an easy-to-grasp chart. 


The home page shows you a chart with the top ten projects in the past year. You can adjust the time frame or search for the crypto of your choice in the top right. 


8. Fees

Now another easy-to-use tool is crypto fees. It does exactly what it says on the tin. The website gives you info on the fees generated across 44 blockchain protocols. Crypto fees can help you understand which cryptocurrencies are being actively used, and therefore, which ones are more likely to have long-term value. 


With regular monitoring and in conjunction with other investment tools, a savvy investor can use crypto fees to help spot trends. Though not a foolproof rule, higher fees tend to correlate with increased activity, while lower fees may indicate less activity. 


One thing I should also note is that despite what the name might suggest, crypto fees is not a tool that will help you save money on transactions or provide data on fees per transaction. This is because, as the platform explains in its FAQ, a quote fee per transaction implies that all transactions are equivalent.


 A simple token transfer is very different from a Dex trade. TLC lock, rollup, data block, etc. so use it for investing, not for saving fees. The last thing I'd like to highlight about crypto fees is that it's not a money-making project. Rather, it's a free open source community resource people providing services for the community for free. 


9. BTC

So the ninth tool on our list is essential for those BTC investors out there. The vision behind a look into Bitcoin is impressive. They are, quote, democratizing Bitcoin data so that everyone, not just the financial elite, can benefit from this revolutionary new asset class and the data around it. It's true. 


This platform provides a suite of high-quality learning tools for Bitcoin investing and for free. The Bitcoin Live Price tab, for instance, has everything from the Fear and Greed Index to BTC price predictions, profitable days and charts, comparing BTC with the S&P 500, Tesla, and other assets, and the Bitcoin Investor tool. 


Two year moving average multiplier is another very useful chart based on historical precedence of market cycles. This chart can be used to indicate whether the price of Bitcoin today is at levels that are historically low, high, or average. 


In essence, when the price of BTC rises above the red band, it suggests that the market is very excited about Bitcoin and that prices might be unsustainable if it's below the green line. The opposite is true, and prices are likely to go up in the future. 


BTC graph


As you can see, the price of BTC is currently below the green line, so good news could be on the horizon. 


10. Data Aggregator

And now it's time for our 10th and final recommendation. So drum roll, please. And that is token terminal. Now this is a platform that aggregates financial and alternative data on blockchains and decentralized applications that run on blockchain.


If you're serious about investing Token Terminal is your go-to. It's comprehensive and clear as a starting point, you should check out their demo videos, which provide the most comprehensive overview of the tools on offer and how to optimize their use. 


But I also want to point out their cheat sheet. In short, the cheat sheet outlines the multitude of metrics available, how they're calculated, and why they are useful. For instance, the token holders metric will tell you the number of unique governance token holders, which helps you understand if the protocol's ownership is concentrated or decentralized. 


There are metrics like the protocol, revenues, and operating costs that will help you determine whether the protocol has an economically sustainable business or not. Metrics like total volume locked, capital deployed, and assets staked can help you gauge whether there is trust in particular protocols. I could go on and on, but I think you get the picture. 


The token terminal is a goldmine of valuable data and an invaluable learning resource. You could spend days and days passing through it all, and they would be days well spent. And while we're on the topic of data analytics platforms, I also want to give a special shout-out to Nansen. 


This is also a really popular on-chain tool that is the go-to for any crypto Twitter sleuth or DeFi degen. Even if you aren't one of those, it could help level up your on-chain analysis. 

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