Glassnode vs. CryptoQuant (Educational Review)
By reading the article “Glassnode vs. CryptoQuant” published in Adaas Investment Magazine, you will get acquainted with these on-chain data providers and their benefits in general. This level of familiarity can be enough when you want to use on-chain data platforms.
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Table of Contents
What is on-chain data?
One of the most important goals of Distributed Ledger Technology and Blockchain technology is free access to network information. For example, each user can view the number of Bitcoin or Ethereum blockchain transactions. Simply put, on-chain data is information contained within each blockchain that is very useful to analysts, investors or traders, and developers.
What is on-chain data analysis?
In addition to fundamental analysis, price technical analysis, and market psychology analysis, a new analytical model was developed as trades and investments became pervasive in the cryptocurrency market, called on-chain data analysis. Analysts have thus developed new indicators and metrics for information within the blockchain data, which can use the results of the on-chain analysis to compile analytical reports and manage investment positions.
On-chain data provider platforms
With the development of the on-chain analytical model, analytical experts needed platforms to provide on-chain data and different indicators and metrics to be able to both save time and increase the accuracy of their analysis.
Thus, platforms such as Glassnode and CryptoQuant have been developed to provide these features. In the following, we have prepared for you the differences and features of these two databases; Stay tuned to Adaas Investment Magazine.
Introducing the Glassnode platform
One of the most popular databases providing on-chain data is the Glassnode website, which has been operating since 2013. In addition to accessing information within the blockchain, this website also provides users with access to powerful metrics and indicators, which is one of the most important features provided by Glassnode.
Introducing the features of Glassnode
As you have read, the distinguishing feature that has made Glassnode a successful platform over its powerful competitors is the features that this database provides to its users, the most important of which we have prepared for you.
1- Glassnode Studio
Glassnode Studio acts as the beating heart of this powerful database. In this environment, users can easily access indicators such as profit and loss ratio, addresses and inventories, OTC trades, data related to miners, data of exchanges, and so on, and use them for their analysis.
Another important feature of Glassnode Studio is access to metrics related to parent metrics. For example, if the user selects the address metric, more than 30 new metrics related to the address option, such as the addresses with a balance of more than $100,000, will be displayed.
2- Glassnode Academy
Many professionals and beginners need to be trained from beginner to professional to analyze and understand the uses and differences of various metrics such as SOPR, and for this purpose, the Glassnode Academy has been developed.
3- Glassnode insights
Professional and technical articles and reports on the cryptocurrency market, prepared and published by the team of Glassnode. This is a great resource for professionals in the cryptocurrency market to read the views and insights of the Glassnode website on a variety of topics. All content is also published in English, Spanish, Italian, Chinese, and Japanese.
This feature includes different sections which are:
- Newsletter – Sends articles to applicant users’ emails at specified intervals.
- Insights – Comments and views on the GlassNode website about different events and topics in the cryptocurrency market are available on it.
- Analyzes – The analytical reports of the Glassnode team are published professionally and with the least mistake for the users.
- Reports – Supplementary articles of important cryptocurrency events are analyzed by the Glassnode website and their results are provided to users in the form of a report.
- Products – All articles, reports and insights of the Glassnode website are collected on one page for users.
- DeFi – Content related to the decentralized finance industry has been developed by the analytical and educational team of the Glassnode website and provided to users.
4- Metrics catalog
The Galssnode database contains a large number of metrics developed for on-chain data analysis. For some users who are looking for a specific metric, searching in the Glassnode Studio may be time-consuming and difficult. For this reason, the Glassnode metrics catalog has been developed so that you can access the metric you want in the shortest time.
5- Multiple charts
With this feature, the users can view and read the charts and metrics they need to simultaneously in a personalized dashboard. This makes it easier for any user to access essential data, and they can also compare data professionally and at a glance, which for some users is a big feature of the Glassnode Studio.
The price of membership in the Glassnode
The Glassnode website has provided 4 price packages with different features and accesses for its users to join, which are:
- Standard: You do not need to pay to join the standard plan and some metrics and practical information will be available to users.
- Advanced: Access to more up-to-date information and metrics than the standard plan is intended for users, which costs $29 per month.
- Professional: If you are a professional investor or trader who feels that you do not have enough information and indicators in both standard and advanced plans, a professional package with a price of $799 per month can be your right choice.
- Institutional: There are many financial and investment organizations and institutions that need highly professional information and metrics. These organizations can contact them directly to start negotiating the price of Glassnode website products.
Glassnode Platform Challenges
A famous phrase is etched in the minds of all of us and states that no person or product is perfect. The Glassnode platform also has problems and challenges, which are:
- Lack of Watch List feature
- It is really hard for beginners to understand the use and effects of charts and metrics!
Introducing the CryptoQuant platform
The CryptoQuant can be considered one of the biggest competitors of the Glassnode platform, which is similar in the industry of collecting and disseminating data within the blockchain (on-chain data) and analytics indicators and metrics.
The company has been operating in South Korea since 2018, and due to its high popularity among analysts and investors in the cryptocurrency market, in addition to raising $3 million to develop the CryptoQuant database, a large share of users who Seek on-chain data, have interested to this platform.
Introducing the features of CryptoQuant
Like the Glassnode platform, which is one of the biggest competitors of this powerful database, CryptoQuant also provides competitive and powerful features for its users, the most important of which are introduced below.
1- Ability to set alerts
While not being able to set alerts for charts on the Glassnode platform was a major challenge for users, CryptoQuant has cleverly used this opportunity to develop a standard alert setting system for its users.
Users can easily set their expected alerts and can also receive alerts in email, Telegram account, or a notification in their browsers.
2- Exchanges Flow
Another great feature that the CryptoQuant website provides to its users is the interception of the inflow and outflow of cryptocurrencies and Fiat currencies to large exchanges such as Binance, Kucoin, and CoinBase.
Many analysts consider the inflow and outflow of large volumes of cryptocurrency or Fiat into or out of exchanges as one of the factors in the upward (Bull run) or downward trend in the cryptocurrency market.
3- The CryptoQuant domestic social media
Like all other major platforms, CryptoQuant has developed its native community for members of its website and has chosen the name “Quicktake” for it.
Website members can publish articles and content on related topics on this social media and can also benefit from the published content.
4- Charts overview
One of the most powerful charts for various metrics such as market indicators, network indicators, addresses, miners’ revenue and transaction costs, number of transactions, etc. has been developed by the CryptoQuant platform for member users of the website.
These charts are available for Bitcoin, Ethereum, Stable Coins and altcoins and users can easily use this information.
CryptoQuant membership pricing plans
Like Glassnode, there are four pricing plans for subscribing to the CryptoQuant website:
- Basic: This price plan is provided for free membership and access to some of the information and charts of this platform.
- Advanced: Access to more information than the basic price plan suitable for retail traders and priced at $29 per month.
- Professional: If the information and indicators of the advanced price plan are not enough to manage investment positions or compile analyzes for the users, they can become a member of the professional price plan, the price of which is $99 per month.
- Premium: If an organization or financial and investment institution needs to have access to the information within the blockchain at the moment and with the highest possible quality, it can become a member of the Premium price plan, the price of which is considered as an annual payment of $799 per month.
The end words
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Simply put, on-chain data is information contained within each blockchain that is very useful to analysts, investors or traders, and developers.
platforms such as Glassnode and CryptoQuant have been developed to provide on-chain data and different indicators and metrics.