What Is CryptoQuant? Learn More About This Crypto Data Provider

CryptoQuant is a South Korea-based company that offers a community-based analytics platform to help investors and stakeholders in the crypto space to make data-driven decisions. CryptoQuant provides market data, and on-chain data, as well as short and long-term indicators for Ethereum, Bitcoin, Stablecoins and other Altcoins. Essentially, it’s a data company that offers data insights to people interested in investing or trading in the crypto sphere. Let’s try and understand in more detail the exact crypto data-related services provided by CryptoQuant.

In order to understand what on-chain data services are, you will also need to understand the basics of on-chain data in crypto. When it comes to cryptocurrencies, most crypto coins and tokens are built on blockchains. These blockchains have a public record of all the transactions that happen through each and every wallet and anyone can access them. Moreover, the data on blockchains cannot be tampered with or changed, so it’s a foolproof way for traders and investors to locate the exact wallets and addresses where cryptocurrencies are being traded. However, interpreting the data that is available on the blockchain can be incredibly complex for people who do not have the technical knowledge to understand it. However, this data is incredibly valuable for investors and crypto users to understand the movement of various cryptocurrencies across exchanges and users. Moreover, going through the blockchains of thousands of cryptocurrencies can be incredibly time and resource-consuming.

In this case, CryptoQuant functions as a data analysis tool that crypto traders and investors can use to interpret the data on crypto blockchains. CryptoQuant first collects the data from various crypto blockchains and defines it into usable parameters. For example, CryptoQuant can help users understand how much cryptocurrencies are being transacted through a particular crypto exchange wallet. Moreover, it can also provide the amount cryptocurrencies that have been deposited in an exchange and the overall flow of cryptocurrencies to and from the exchange wallet.  Users can get the full historical data for many crypto blockchains using CryptoQuant in a simple and easy-to-understand manner. As per CryptoQuant, they can provide 3 major types of data sets, as listed below:

Network Data: Provides in-depth data of transactions that occur on crypto blockchains. 

Market Data: Provides detailed data about the price fluctuations of cryptocurrencies by analysing cryptocurrency exchanges. 

Entity Flow Data: Provides data that can help users understand the flow of cryptocurrencies from the wallets of important crypto players such as exchanges and crypto miners.

CryptoQuant offers the following useful features for the users on their official website:

Charts Overview: This is the main page or the homepage of the CryptoQuants website. On this page, you can view a collection of various charts that depict different kinds of data sets. You can click on any of these data sets to explore the specific data chart in more detail. 

Exchange Flow: This is a feature that allows users to simply understand the volume of cryptocurrencies that are being deposited or withdrawn from various crypto exchanges around the world.

Pro Charts: This section provides users with in-depth data on historical crypto charts and insights from the past. Moreover, users can also create their own data charts in this section using their chosen parameters and share them with other traders.

CryptoQuant aims to provide comprehensive market data that allows its users to develop an in-depth analysis of the markets so they can devise the appropriate investment and trading strategies. Moreover, CryptoQuant gathers data from a wide variety of exchanges around the world, and the company claims that CryptoQuant’s market data is the closest to the actual market trends. The company also claims that over 1 million crypto traders and investors use CryptoQuant’s data and more than 10,000 articles cite CryptoQuant’s data every month.