In a market that never sleeps, new tools are coming to light to enable users to track their investments easily, find new opportunities, or simply help them get a better overview of the market they find themselves in.
One such tool is the Dex Screener, and in the following article, we’ll introduce you to this and other tools that can ease your experience in the crypto space.
What Is a DEX Screener?
A DEX Screener is a tool that enables users to filter and analyze digital assets on decentralized exchanges (DEXs).
It presents real-time data on various cryptocurrencies, such as price movements, trading volumes, and other relevant metrics, in an organized and user-friendly interface, allowing for informed decision-making in the realm of decentralized trading.
So, DEX Screeners allow you to track your favorite cryptocurrencies in real-time, from established coins, such as Ethereum (ETH) or Binance Coin (BNB), to newer coins not yet listed on traditional platforms, such as CoinMarketCap or CoinGecko.
Besides, most DEX Screeners will allow you to track and see the trading pairs of coins you’re interested in and find new ones with potential. You’ll be able to see the transaction volume for a token, the latest buy and sell orders, the increase or decrease in the last 24 hours, a nice-looking chart, and a lot of other cool features which will make your crypto trading adventure a piece of cake.
If you don’t already know, one of the biggest DEX Screeners in the current market at the time of writing is none other than DEXScreener.com, being online for more than one year and serving over 5M users at the peak of the bull rush.
Why Is DEXScreener.com so Popular?
While there is more than one dex screener available on the market, most crypto enthusiasts are using dexscreener.com, and there are a few good reasons why it is so popular:
- An easy-to-use user interface with a lot of useful information which can be found easily, even by someone with little to no experience in using tools of this kind;
- You can make changes to the appearance of the site and charts in order to arrange things as you are used to, for better use of the site;
- It allows users to examine a lot of explorers without forcing them to browse just coins from more popular blockchain explorers such as Ethereum, Binance Coin, or Polygon.
While there is still room for the site to add other features that may be useful to the users, such as price alerts for big market moves or events in the token’s activity, such as being listed on an exchange, we can say that dexscreener.com has more than what users need at the moment and plenty of room to grow and improve in the near future.
How to Use DEX Screener? Popular Features
Here’s how you can use a DEX Screener and some steps to improve your trading strategy:
1. Choose a DEX Screener that suits your needs
There are many DEX Screeners available online, and each one has its own unique features and benefits. Choose a DEX Screener that meets your trading goals and preferences.
To introduce you more quickly to how to use a DEX Screener, we have chosen the DEXScreener.com platform for this guide.
2. Familiarize yourself with the interface
A DEX Screener typically has a dashboard that displays the latest data on various cryptocurrencies. Get familiar with the different features and metrics that are available to you. Let’s look at some basic information and popular features of DEXScreener.com.
DEX Screener Charts
You can click on the token or the desired pair to see the available charts. You can use the “search” option if you can’t find it so quickly on the main page. There, enter the desired token, pair, or address.
Now that your chart is displayed, you can use any technical analysis tool you know to analyze in detail the trend your chosen token is heading towards.
Also, on DEXScreener.com, you have information on the right side about token price, liquidity, fully diluted valuation, market cap, and more. You can set price alerts by pressing the specific button on the right, and if you set such an alert, it will also appear in the left menu.
At the bottom, you can select the different filters you need. For example, if you only want to see the latest buy-only information, you can set this using the filter under “Type.” Of course, this can help you with many things, including tracking token whales.
MultiCharts
And while we’re on the subject of charts, let’s not forget the MultiCharts feature. With MultiCharts, you can create a personalized dashboard that allows you to compare the price movements and recognize patterns in the cryptocurrencies you’re interested in trading.
This powerful tool allows you to add up to 16 dynamic charts, which are provided by TradingView, as in the case of the simple charts shown above.
Trends
The Trends tab offers a comprehensive look at the trading pairs in the market based on their pricing and current performance. With these flexible filtering options, you can tailor your search to get a quick and insightful overview of the cryptocurrency market and the specific trends you’re interested in.
The ability to filter your searches based on specific parameters makes it easier for you to find the information you’re looking for. You can filter by:
- Trend Type: Get an overview of changes in price, current listings, volume increases, and more.
- Platform: View trends for popular platforms like Ethereum, Solana, Aptos, and others.
- Time Frames: Choose between 5 minutes, 1 hour, or 24 hours to view the trends over different time frames.
New Pairs
The new pairs feature allows you to discover the newest pair listings across different exchanges. The information is presented according to various criteria, including the pair’s name, current price, the time it has been listed, traded volume, market liquidity, and others.
This feature’s a great one to find early stages DeFi projects.
Gainers & Losers
With this feature, you have the ability to uncover the movers and shakers in the world of tokens on a specific network. The “Rank and Filter” option gives you the flexibility to tailor your search experience based on several key criteria, including:
- Rank
- Liquidity
- FDV
- Pair Age
- Transactions, etc.
Mobile App
DEXScreener.com also offers a mobile app, allowing you to access the platform and make trades on the go. The mobile app is available on iOS and Android.
The features presented above are also relevant for other DEX Screeners. Some of these features can be found on other DEX Screener platforms.
3. Keep track of your trades
A DEX Screener can also be used to keep track of your trading activities. You can use it to monitor your portfolio, track your profits and losses, and adjust your strategy as needed.
What Other Tools Can You Use?
As people may expect, DEXScreener.com is not the only tool in the market that you can use to track your favorite tokens, be up to date with the new coins that are created each day, or even look at beautiful charts with your favorite settings.
No, there are a lot of other DEX Screener alternatives, and here are some of the most popular ones:
DEXTools
DEXTools.io is one of the oldest tools of this kind from the market, allowing you not only to do the things you could have done with any other tools but, by holding their token, DEXT, you are getting access to all kinds of cool perks such as:
- ads-free use of their tool;
- the ability to see more high-demand tokens;
- add more tokens to your favorite list to more easily keep an eye on them;
- profit and loss tracking possibility;
- price alerts (since dexscreener.com doesn’t have that yet);
- and a lot of other cool features you can enjoy.
But if you are looking for a free tool, then don’t worry. Their free features are more than enough to do your work.
DexGuru
Dex.Guru is a pretty old competitor for DEXTools.io, but still pretty new when compared to maybe the first tool available to track tokens generated on a certain coin block explorer.
The same options as in other tools can also be found here, but the modern and easy-to-use design sets it apart from the rest. At the same time, the ability to see the total liquidity provided by an address in different coins makes it easier to keep an eye on what the whales are up to lately.
DEXView
DexView.com is another recent alternative launched by the team at Pinksale.Finance, which has quite a lot of experience with tokens, considering that they have one of the most used platforms for launching new tokens on Binance Chain (BNB).
Functions are basically the same as the ones found in the DEX Screeners mentioned above, with not many new things added to the site.
CoinMarketCap’s DEX Scanner
CoinMarketCap’s DEX Scanner is also a tool with a lot of potential that can help you track your favorite pairs and market movements, all from the conform of CoinMarketCap.com, a well-established website in the crypto market.
CoinMarketCap’s team has expanded its tool inventory quite a lot after its acquisition by Binance, including a portfolio tool that allows you to track your investment profitability, a blockchain explorer, an ICO calendar, as well as other tools.
More tools are released daily, so the future looks promising for people who want to simplify their investment and tracking.
