What is Dune Analytics, and how can it help investors?

In the world of crypto, accurate data-driven insights are hard to come by. Trends change by the second, and market data is highly dynamic, mainly due to the volatile nature of cryptocurrencies. There is a lack of easily accessible, reliable market information. With this in mind, one particular data analytics company wants to fill this gap by providing fast, convenient and free access to crypto data; it’s called Dune Analytics. What is Dune Analytics?

Dune Analytics is a community-based open source data provider that enables anyone to publish and access crypto trends in real time.

Founded in 2018 by Fredrik Haga and Mats Olsen, Dune Analytics is an Ethereum-based analytics platform that makes crypto-data accessible and usable on-chain. It is also open source and free to use, meaning anyone can publish datasets and gain access without going through any formal registration process or paying for the privilege of participating.

According to the company’s website, the name comes from the dunes in the desert that look like data cards. It also has a connection to the science fiction novel Dune by Frank Herbert.

Dune Analytics was founded with the express purpose of making Web 3.0 data accessible to everyone. Initially, Haga and Olsen built a tool that allowed anyone to analyze a few dozen smart contract products on the Ethereum blockchain.

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Since then, the company has grown significantly and currently provides data insights on cryptocurrencies. It also provides datasets from the art, DAO and gaming sectors, among many others.

The user base of the platform has also grown exponentially. It was simply a playground for data geeks and enthusiasts when the company started. Today, it provides a vast spectrum of data to a massive consumer base that includes established companies and start-ups.

What makes Dune Analytics unique?

At its heart, Dune Analytics is a community-driven project. Their data is open to all and re-mixable. Unlike other companies, Dune’s employees aren’t the only ones preparing datasets for specific projects. Instead, it allows everyone to query complex data using their robust editor and dashboard. Dune’s vibrant community consists of traders, analysts and enthusiasts who store and share their data analysis with the world. This open process allows the data to be mixed and reused to meet anyone’s needs. Many consider it the Github of the data analytics world.

Dune’s open dashboards

Dune uses open dashboards, replacing their old closed, unauditable and expensive counterparts. The dashboards allow users to easily view and understand complex data using easy-to-understand charts and graphs.

Anyone can publish dashboards on the site, and they are easily accessible. Additionally, anyone can use a dashboard posted on the site to create their own dataset and dashboards.

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Most of the queries on the website are presented through dashboards. These dashboards can be used to track all kinds of data. Search queries can be used to locate something as popular and diverse as NFT collections bought by top traders on OpenSea. It can also be used to dig up data on something as niche as Ethereum Name System domains with ten letter names. You can find several queries that will find many datasets, and if there’s one you can’t see, you can be the person who creates it.

How to use Dune Analytics?

As mentioned above, any user can create or access dashboards on the website. You can see popular dashboards on the site by clicking the ‘discover’ button or find specific ones using their search function.

Dune supports blockchains such as Ethereum, Polygon, BNB Chain, Optimism and Gnosis Chain, and any smart contract built on these platforms. Dune uses Structured Query Language (SQL) to display the data when someone requests it.

Anyone on the site can create queries by clicking on the ‘new query’ option. However, you need to have some SQL knowledge to build your queries on the website.

The site also has a paid subscription service as a higher level option that costs $390 or Rs. 27,787 per month. The subscription allows users to skip the query queue and run multiple parallel queries. This allows inquiries to be processed more quickly. The subscription also allows users to keep dashboards private and export data in the form of comma separated values ​​(CSV) files.

How can Dune help investors?

If you are not big on creating datasets and queries, Dune can also help you as an investor. The rigorous real-time data can help you track any potential investment asset, from cryptocurrencies to DAOs.

Also Read: What Happens When Authorities Seize Bitcoin and Other Crypto Assets?

There are datasets from countless crypto companies and protocols, such as Argent, Uniswap, Compound, Messari and ConsenSys. You can stay up to date with any changes and price actions with accuracy while you want to invest in the project or coin of your taste.

With a community of professionals and enthusiasts managing the data, you will always be able to find the information you are looking for with maximum accuracy.