Buying and selling crypto currencies or digital coins can be forbidden. There are various factors that you need to consider while taking the decision of trading. Therefore, there are many analytics platforms that have been created to provide valuable insights about the crypto market to the investors that they can use to make correct decisions on which coin is good to invest, when to invest, and how much to invest. In this article we will talk about the analytics platform Lunarcrush, which describes the social intelligence platform that tackles different social insights together with other market data to make crypto trading less risky.
About Lunarcrush Platform:
On June 12, 2018 the Lunarcrush platform was founded by Mr. Joe Vezzani and Jon Fargo. At the beginning in Costa Mesa, California, it is now in the Greater Los Angeles Area, Wear Coast, USA, which is its headquarters. The platform works by analyzing data from different social media platforms to disclose probabilities of tops, bottoms, pumps, swings, and dumps before they actually happen.
How Does the Lunarcrush Works:
#1 Set Up Your Account
The procedure of setting up the account starts with clicking the login/register button on the website, where you need to enter your email ID and need to utter the captcha verification. After that, you will receive the verification mail on the mail address you provide, once your email has been verified, you are ushered into your dashboard, which means your account has been created.
#2 Create A Portfolio and Add the Coins You Want to Follow
Creating a portfolio is the next step of the process, it presents you with the opportunity to earn points on the Lunarcrush platform. Now, to create a portfolio, you need to click “Add Cryptocurrency Holdings” on your dashboard. After that, search for the coin you want to add and enter the amount you have and the price you bought it. It headfirst shows the current value of your portfolio along with other metrics, and also rewards you with five points.
#3 Create Your First Alert for Your Favorite Coin
Creating the first alert is an easy process for which, you need to select the tab on your portfolio, and it opens up a window where you input the coin you want to watch and the alerting method that includes app alert, emails, SMS, and Telegram. You can also choose a default alert or configure one from scratch, after doing all that, you might rewarded with five points,
#4 Find the Top Influencers for Your Favorite Coin
Click on “Influencers” and then search for the coin you want to track, which appears on the homepage of your Lunarcrush account. It will bring a list of the social media influences filtered by most powerful, most engagement, most followers, and most posts. That way, you can know what the social atmosphere of your portfolio looks like.
#5 Connect Your Twitter Account
You will spot this tab on your Lunarcrush dashboard. It grabs you to a one button click on the account setting of your Lunarcrush account that connects your Twitter with your Lunarcrush profile. And with this you are rewarded with the five points, which are credited to your account.
#6 Work the Gamify Aspects in Your Favor
This is also one of the essential aspects of your Lunarcrush experience to bring the best out of your analysis. Simultaneously you can interact with the platform and complete tasks, you can earn the points that you can change to LUNR, the native token of Lunarcrush.
Also Read: What Is A Venly Wallet? And How To Use It?
Amazing Features of Lunarcrush Platform:
#1 Comprehensive Dashboard
Dashboard is the first section of your Lunarcrush page. It analyzes your portfolio and is more of the display board for all impotent metrics. It exhibits social volume, social engagement, Bitcoin dominance, top ten coins, exchanges, and influencers, etc. It also shows the icons that you frequently buy and sell and you can see the coins that are recently added to the platform.
Alerts ensures that you do not have to be viewing charts and social metrics full day, with the alerts in place, you can go live your life while still keeping in interaction with progress on your selected coin.
This attribute places all the necessary information about a favorite digital coin on a single page so that with a single click, you can get a view of both the market and social activity of a particular coin. Therefore, you can compare coins using metrics like their market cap, social volume, social engagement, etc.
#4 Key Metrics
Lunarcrush utilize standard metrics like volatility, social volume, social engagement, BTC and Altcoins dominance, spam volume, shared links, etc., to examine the performance of a digital currency. It also employs unique metrics exclusive to the Lunarcrush ecosystem. The following are some metrics of the Lunarcrush platform.
Lunarcrush Galaxy Score:
This uses community metrics pulled in from social media to measure a coin’s performance over time.
This metric gauges the viability of Lunarcrush itself by comparing its data with those from all over the crypto world.
With this metric, you compare a coin’s performance with that of the whole cryptocurrency space.
This attribute of the Lunarcrush allows you to add coins to your holdings and track your profits over time. Apart from that, you can see them in a comprehensive chart and track their performance. It only allows you one entry per coin.
With this attribute of the Lunarcrush, you can see the actual social status of the digital coins across the board, which helps you get ahead of the social trend and make wise decisions that will beat the market.
If you have a penny of investment in a crypto currency, then you will agree that influences influence the crypto sphere. If you want to get ahead of the markets, you must get a hold of the utmost influences on your favorite coin. It will take just a single tweet to damage whatever trading planning you have been building. Lunarcrush takes care of all that for its users.
#8 Compare Coins
There is no need to keep adhering between tabs to contrast the metrics of two coins. Lunarcrush takes care of this for its users by splitting your screen into two, each for each coin, to make the procedure simple.
If you want to invest in crypto currency you need to go beyond technical or fundamental analysis. It is also affected by social sentiment analysis, especially since more people have been brought into the crypto space in recent years. So, you need a complete guide to handle the actual aspect of crypto currency trading. Lunarcrush is an excellent guide in that aspect, which assists you to analyze different social metrics to enable you to stay ahead of influential social events in the crypto space. It is mainly free and offers a vast array of social analysis tools with your email address as the only requirement.