How Does Ave.Ai Simplify On-Chain Data Analysis and Smart Contract Risk Monitoring?

In the wild world of crypto, there is always one golden rule - Do Your Own Research (DYOR)

In the 21st century, Blockchain is the answer to the ultimate public ledger, recording every transaction and smart contract interaction. Web3 investors have access to a rich source of information because of all the data generated by smart contract interactions, such as asset details, transaction data and contract code, recorded on the blockchain and accessible to anyone. There are no secrets here, everything is open, and everyone has a fair chance. However, different levels of data analytics expertise determine an investor's understanding of the market, leading to different trading behaviors.

on-chain behavior is like tracking the flow of money in the blockchain. Users are experiencing a lack of on-chain data analysis, and the game is becoming more difficult with increasingly complex metrics. And so, on-chain data analytics platforms were born.

Ave.ai is a comprehensive Web3 service platform that integrates on-chain data analytics, DEX, and wallet. This platform aggregates on chain data from more than 70 blockchains, links to more than 4 million wallets and attracts more than 1 million users to use the platform.

On Chain Data Analysis and Whale Alerts

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

On Ave.ai's homepage, users can access essential information such as Token rankings, market overview, sentiment index, and L1 overview.

Token rankings arrange projects based on various factors, such as popularity, listing time, price fluctuations, trading volume, and volume changes. The leaderboard also displays the Token's price, 24-hour volatility, trading frequency, volume, total circulation and opening price. Notably, Ave.ai assigns a safety score to each Token as a risk warning.

By accessing each Token's information page, users can XEM its basic information, including project information, whitepaper, market Capital , volume, liquidation, number of holder, and project team. Fundamental analysis plays an important Vai in assessing XEM an asset is overvalued or undervalued.

Technical analysis involves studying cryptocurrencies using historical data to predict market behavior, focusing on past market actions, price movements, and trading activity. Ave.ai allows users to explore a Token's transaction history and candlestick charts. Price movements and charts can help users predict market trends and potential price movements. By clicking on transaction history, users can check transaction details on blockchain explorer.

There are two key metrics to determine the capabilities of a data analytics platform: scope and timeliness. As mentioned earlier, Ave.ai includes data for more than 60 blockchains and boasts impressive fast update capabilities. As soon as the BRC-20 concept developed, Ave.ai quickly launched its own BRC20 market tracking page.

on-chain research XEM at the flow of money in the blockchain to identify potential investment opportunities. on-chain flows will often tend to follow whales, individuals or organizations holding large amounts of cryptocurrency, especially in the crypto and Non-Fungible Token industries. However, be careful when monitoring whale activity when investing, as scammers can fake whale investments by transferring money to whale accounts.

Ave.ai provides wallet activity alerts, allowing users to track whale actions. By receiving notifications when whale wallets move funds, users can stay informed about major market movements and make smarter investment decisions. Furthermore, the platform provides updates on GameFi and Non-Fungible Token projects, alerting users to notable events or opportunities in this space.

Smart contract risk monitoring

One of the defining characteristics of blockchain technology is its anonymity. While this effectively protects user privacy, it also creates a haven for cybercriminals. Although blockchain network operations are public and transparent, users are represented by addresses - a chain of random numbers - making it difficult to find out their true identities. Transactions may involve fake identities, and the token assets traded may be counterfeit.

XEM the ERC-20 standard smart-contract as an example. This standard allows anyone to Token Issuance on Ethereum. In October last year, there were more than 450,000 ERC-20 tokens on Ethereum, making it difficult to distinguish legitimate Token from fake Token . Some fake Token aim to ride the wave of popularity and scam funds, while others can directly steal your wallet. For example, within a week of the Damus decentralized social platform's launch, 15 fake contracts with the name "Damus" appeared on Ethereum and BNBChain. Seven of these contracts have a sell tax of up to 100%, and malware embedded in these contracts could potentially take control of users' wallets. In addition to financial losses, users interacting with illegal smart-contracts may unwittingly become part of illegal activities and face legal consequences.

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

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

As a comprehensive Web3 exchange, Ave.ai offers more than just data analytics, on-chain tracking, and alerting features. Users can choose to import their existing cryptocurrency wallet or create a new wallet directly on the Ave.ai platform for trading. Decentralized exchanges (DEX) allow users to trade on multiple decentralized exchanges or cryptocurrency wallets, ensuring they receive the most favorable rates and results.

on-chain data analytics platforms provide cryptocurrency investors with a large number of on- chain metrics and accessible data sets. However, for investors, this is only an aid to conducting their own research (DYOR) and should not be the sole basis for making investment and trading decisions.

XEM the transparency of blockchain data, data analytics tools must continuously improve their products, achieve rapid updates and modifications, and provide easier-to-use indicators to attract users. use. This contrasts with the data sourcing difficulties that traditional Web2 companies face.