Ethereum has probably the strongest ecosystem in comparison to other altcoins. The ERC20 protocol that this network unveiled has allowed other projects to come forth and use Ethereum’s blockchain.
As the industry matures, this ecosystem will continue to change. People feel that only relevant projects with specific technology backing will continue in the future. This, however, does not imply that there is a shortage of trading opportunities and users get a chance to make lots of profit.
As the industry shows maturity, the ecosystem is also witnessing a change. Whatever the case is, keeping an eye on your portfolio is crucial. Ethplorer gives you a convenient way of doing that and also provides essential network metrics at a single point.
What Is Ethplorer?
Ethplorer is a simple platform that gives investors, traders, brokers, and others. Token information and all analytics for cryptocurrencies. It can provide you with loads of features. You get access to using Ethereum based tokens and get charts and transaction history that you can use basis the token address. This means the users can take advantage and work on their decision-making abilities.
Ethplorer’s Watching Service
The watching service is, in reality, a notification system that alerts the user when there is any inbound or outbound transaction that is pertaining to a certain address or smart contract. The tool has a lot of flexibility and depth, so it is one of the services provided for free.
The message limit is very high, and you can send 1000 telegram and 500 email notifications every day. This is suitable for users who have tracking contracts and addresses but cannot spend more on the transcription costs.
What is more, the setting up process of the same is straightforward. You land on the Ethplorer page and paste the contract you wish to track. Now click on the “Watch” button and mention where you want to get a notification, i.e., the Telegram or email.
You could also go to your profile page, choose the “My addresses/txs,” and you can see the “add address” link. Now click on it and add any token or address you want to track.
Why Use The Watching Service?
One of the essential benefits of this Watching service is that it caters to retail investors and institutions. Let us find out how.
The smaller investors or day traders can take advantage of this service to modulate the inflow and outflow of any smart contract. Doing that helps the people to make an investment decision in the right way.
On the other hand, you can easily monitor the popular ERC20 addresses of all the reputed traders and even copy their setups. You can keep an eye on the influencer account activity, watch all the airdrops and other things. In the case of institutions, this Watching service can track the capital invested in various protocols that they are considering for investment.
Other Ethplorer Services
In the dynamic market environment, you have to keep a close eye on your portfolio. This is particularly necessary for altcoins as their prices keep fluctuating. Keeping this fact in mind, Ethplorer has come with an exciting way to keep an eye on the Ethereum based assets you have.
In a single-page dashboard, you can check loads of variables. In the portfolio, you can see the value in USD and a visual representation of whether it is rising or falling. Under it, you can see all the other relevant information you need to know. You can see a compounded ETH balance value plus the overall ETH you have received or sent. Besides it, you can see the various altcoins available in the account and their current value. You can also see the transfers that happened from the address you inputted.
Firstly, they can now look at a chart that shows its actual value. Apart from that, you can see how many transactions have happened at that address. There is another section that shows information about the project, and that is crucial too. You can find the data about what the token wishes to get and for the official domains of the project.
There is another exciting feature, and that is the facility to input the contract address of the token that they want to analyze and get all information related to it.
Ethplorer is a one-stop place for people who wish to deal with altcoins. It will become more relevant as time moves and the industry grows, seeing more projects coming in. The solution is easy to use, and you do not have to get any prior knowledge about technology to deal with it. Along with the convenience, aspect makes Ethplorer the service to look forward to.