Compass NFT analytics tool explained
Compass is a remarkable NFT analytics software that allows customers to acquire extensive data, statistics, and analytics that could then be used to find profitable transactions. It tracks the price movement, trade volume, and other relevant data from all of the NFT projects on the Ethereum blockchain and provides users with insightful data to help them be better traders.
In the current scenario, most traders find valuable listings long after the opportunity passes or buy and sell their NFT holdings without the correct data and solely based on their gut feelings or whatever information they can scrape from Twitter.
What are the benefits of Compass?
Compass: NFT analytics tool constantly tracks the sales and volume of all the trending units and projects so that you can be a fast mover and never miss the hottest mints. It could also provide an accurate valuation of the portfolios to analyse which were the best trades and be quickly alerted in real-time when a whale makes a purchase or a collection goes above or below a specific price. You can also follow the whales and purchase super rare NFTs with the help of rarity rankings to access the undervalued gems before anyone else.
How do you track whales with Compass?
Whales are the individuals or entities with extensive digital asset holdings and have the most significant influence over market change. These are high-net-worth individuals who have enormous holdings in any NFT projects.
Your Compass account allows you to follow your selected influencers, friends, and the biggest whales. The Compass NFT tool will also inform you about bogus mints, which will improve the effectiveness of your trading strategies.
You can now operate concurrently with whales by following the "smart money" by making trades as soon as addresses with large market capitalisations book orders, increasing your chances of being a successful trader.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.