The Average Crypto Analyst earns $75k Annually.
Reading Etherscan is the basics for being a Crypto Analyst.
I’ll be introducing 5 free tools that will help you interpret information on Etherscan easily, even if most people think It's meant for experts. Let’s start with Bubblemaps, followed by DeBank, Bread Crumbs, Arkham Intelligence, and Dune Analytics.
1. Bubblemaps: This is one of the newest innovative tools that dissects data from etherscan easily and not just that, but data from several blockchains (BSC Chain, Fantom, Avalanche e.t.c).
It also covers the DeFI and NFTs Sector, with BubbleMaps, you're one step away from being an on-chain detective.
This helps you to:
- Check token distribution
- Explore wallets (VCs)
- Reveal Connections
- Identify Rugs
- Spot Wash Trade
Using $LDO$ as a case study, we can explore wallets, reveal connections and check token distributions.
From the first image attached,
1. LIDO token is evenly distributed, The bubbles show Top addresses ranked from #1 - 150 based on Amounts.
2. The bigger bubbles show the addresses with the highest amount and Vice Versa.
3. There aren't many clusters; clusters are used to indicate transfers between wallets (ETH, USDC, or LDO in this case). The more clusters, the more activities the address has with other addresses and which can be suspicious in most cases.
I singled out these 3 wallets in the red block to give a clear explanation of how to explore VCs wallets.
From the second image attached,
1. Binance (The purple bubble): holds 2.60% of $LDO$ supply
2. Lido Treasury ( The dark green bubble): This is LIDO Treasury and 12.60% of its supply is locked
3. Dragonfly Capital (The small light green bubble): This is another VC like Binance, holding 1.48% supply of $LDO$.
Now that we know where to look, let’s take a closer look at Dragonfly Capital.
From the third image attached,
1. Dragonfly Capital has only received 14M $LDO$
2. The cluster percentage is 1.70% which shows no suspicious activity as the address has no other transactions and interactions from other addresses except 0xa2…e825 that moved the token to Dragonfly Capital and the token hasn’t been moved since 183 days.
