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DYOR Made Easy: How Ave.ai Simplifies On-Chain Data Analysis and Smart Contract Risk Monitoring

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In the wild west of crypto, there's a golden rule - Do Your Own Research (DYOR).

Blockchain is the 21st century's answer to the ultimate public ledger, recording every transaction and smart contract interaction.  Web3 investors have access to a wealth of information since all data generated by smart contract interactions, such as asset details, transaction data, and contract codes, are recorded on the blockchain and accessible to everyone.  No secrets here, it's all out in the open, and everyone has a fair shake at it. However, varying levels of data analysis expertise determine an investor's understanding of the market, leading to different trading behaviors. 

On-chain behavior is like following the money trail in the blockchain universe. Users are hungry for on-chain data analysis, and the game is getting more complicated with increasingly complex dimensions and indicators. Every investor is on the hunt for the holy grail - the easiest way to mine gold from the endless stream of public data. And so, on-chain data analysis platforms were born.

Ave.ai is a comprehensive Web3 service platform that integrates on-chain data analysis, decentralized exchanges, and wallets. The platform consolidates on-chain data from over 60 blockchains, links with more than 4 million cryptocurrency wallets, and attracts a user base of over one million crypto investors.

On-Chain Data Analysis and Whale Alert

When it comes to analyzing Web3 projects, there are three main aspects: fundamental analysis, technical analysis, and on-chain analysis.

On Ave.ai's home page, users can access essential info like cryptocurrency rankings, market overview, emotion indicators, and L1 overview. 

Token leaderboard sorts projects based on various dimensions, such as popularity, listing time, price spikes, transactions, and trading volume shifts. The leaderboard also displays token prices, 24-hour changes, transaction frequency, trading volumes, total circulation, and opening prices. Notably, Ave.ai assigns a security score to each token as a risk heads-up.

By visiting each token's page, users can access its fundamental information, including project info, white paper, market cap, trading volume, liquidity, number of holders, and the team behind it. Fundamental analysis plays a crucial role in assessing whether an asset is overvalued or undervalued.

Technical analysis involves studying cryptocurrencies using historical data to predict market behavior, focusing on past market actions, price fluctuations, and trading activity. Ave.ai lets users explore trading histories and candlestick charts of crypto assets. Price movements and charts can help users anticipate market trends and potential price shifts. By clicking on the transaction history, users can check transaction details on blockchain explorers.

Two main indicators determine a data analysis platform's usability: coverage and timeliness. As mentioned earlier, Ave.ai covers over 60 blockchains and boasts impressive rapid iteration capabilities. Soon after the BRC-20 concept took off, Ave.ai quickly launched its BRC20 market monitoring page.

On-chain research examines the flow of funds within the blockchain to identify potential investment opportunities. On-chain funds frequently follow the movements of crypto whales, individuals or entities that hold large amounts of cryptocurrency, especially in the cryptocurrency and NFT industry. However, be aware when tracking whale activities when investing, as scammers may fabricate the appearance of whale investments by transferring funds to whale accounts.

Ave.ai offers wallet activity alerts, enabling users to monitor the actions of whale cryptocurrency investors. By receiving notifications when whale wallets transfer funds, users can stay up-to-date on major market shifts and make more informed investment decisions. Moreover, the platform provides updates on GameFi and NFT projects, alerting users to notable events or opportunities in these rapidly expanding industries.

Smart Contract Risk Monitoring

One of the defining features of blockchain technology is its anonymity. While this effectively safeguards user privacy, it also creates a haven for cybercriminals. Although blockchain network activities are open and transparent, users are represented by addresses—a series of random numbers—making their true identities difficult to trace. Transactions can involve falsified identities, and traded token assets might be counterfeit.

Take the ERC-20 token contract as an example. This standard allows anyone to issue tokens on Ethereum. As of October last year, there were over 450,000 ERC-20 tokens on Ethereum, making it difficult to discern genuine tokens from fakes. Some counterfeit tokens aim to ride a wave of popularity and defraud funds, while others might directly steal from your wallet. For instance, within a week of the decentralized social platform Damus's release, 15 fraudulent contracts named "Damus" appeared on Ethereum and BNBChain. Seven of these contracts had a sales tax of up to 100%, and the malware embedded in the contracts could potentially gain control of user wallets. Besides financial losses, users interacting with illicit smart contracts might inadvertently become part of illegal activities and face legal consequences.

So, how can you guard against smart contract scams? Ave.ai's "Smart Contract Risk Detection" feature can help users evaluate contract security and identify potential risks. The tool currently supports contract detection on 19 blockchain networks, including BSC, Ethereum, and Arbitrum.

To use the feature, simply paste the contract address into the search box, select the network, and search to receive a smart contract risk score. The risk assessment includes over 30 safety monitoring items, such as honeypot contracts, contract ownership, contract agency, additional issuance mechanisms, black/white list functionality, slippage rates, and transaction cooldown mechanisms. With this information, users can make informed decisions and protect themselves from smart contract scams.

As a one-stop Web3 trading terminal, Ave.ai offers more than just data analysis, on-chain tracking, and alert features. Users can choose to import their existing crypto wallets or create new ones directly on the Ave.ai platform for trading. The decentralized exchange (DEX) engine allows users to trade on multiple decentralized exchanges or wallets, ensuring they get the most favorable exchange rates and outcomes.

On-chain data analysis platforms offer cryptocurrency investors an abundance of accessible on-chain indicators and datasets. However, it's essential for investors to remember that data serves as a tool for conducting their own research (DYOR) and shouldn't be the sole basis for investment and trading decisions.

Considering the transparent nature of blockchain data, data analysis tools must consistently enhance their products, achieve swift updates and iterations, and deliver increasingly user-friendly indicators to draw in users. This contrasts with the data sourcing obstacles faced by traditional Web2 companies.

More about Ave.ai

Website: https://ave.ai/

Twitter: https://twitter.com/aveaiofficial

Telegram: http://t.me/aveai_english

Download: http://ave.ai/download

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