One of the most attractive things about public blockchain finance is that all transactions are openly recorded and verifiable by anyone. In theory it works. In reality, however, combing through millions of transactions to find information about a single one can be cumbersome.
This problem is exacerbated when dealing with popular blockchains, such as the Ethereum blockchain. If you have some programming knowledge, it may be easier to write some kind of code that will give you the information you want. What about the rest of us who aren’t programmers? Who will help us in this regard?
Enter Dune Analytics. It is a robust blockchain analysis tool that simplifies the process of blockchain research by allowing users to enter simple queries into existing databases. Founded in 2018 with its headquarters in Oslo, Dune analytics focuses primarily on information within the Ethereum network.
In this article, we will outline essential components of Dune Analysis and discuss how you can use it to engage in qualitative research.
DUNE CHARACTERISTICS
The two most prominent features of Dune Analytics are the Queries and the Dashboards. With these tools, you can not only interpret databases efficiently, but also create your own databases. Before we discuss how to create your own queries, we’ll talk about how to build on existing ones:
Popular pre-made Dashboards
Dashboards are groups of queries and visualizations that previous users have created. They usually center around a specific section of the ETH blockchain. There are many dashboards to choose from on the Dune interface.
The most popular are DeFi, DEX, Uniswap, Stablecoin, Bitcoin, ERC-20, Ethereum, MakerDAO, wrapped, etc.
Popular pre-made queries
Queries are single entries on the Duin interface that ask a question about a specific topic. For example, one person might want to find out information about the first ten transactions on the Ethereum blockchain; it’s a query.
Popular queries are categorized on the Dune analytics page, and you can find pre-made queries that match your request. It’s like browsing the FAQ section of a website. Examples of popular query categories are DEX, Uniswap, lending, trading, etc.
Custom Dashboards:
In the very rare event that you don’t find what you’re looking for in the list of pre-made queries and dashboards, you can create your custom dashboard and start adding queries to it.
WHICH BLOCKCHAINS CAN YOU FOLLOW ON DUNE ANALYTICS?
From the beginning, Dune Analytics was made for the Ethereum Blockchain. This is because the Ethereum Blockchain is at the center of most decentralized finance initiatives; therefore, massive volumes of transactions in various niches pass through it every second.
In addition to transactions on the Ethereum mainnet itself, you can also track transactions on projects built on the Ethereum blockchain. Projects like Uniswap, 1inch, Curve, Compound, Optimism, xDai, 0x, BoringDAO, Aave, Balancer, dYdX, MakerDAO, etc.
PRICE
There are two plans on the Dune analytics platform: the free and the pro plans. With the free plan you can:
Search queries against existing databases Write new queries if your request is not on the pre-made query list. Create visualizations (such as charts, graphs, lines, etc.) and dashboards Share your maps for public use and review Create forks of existing community queries. Run three queries in parallel.
The pro plan is priced at a flat $390 per month per user. With the Dune Pro plan you of course enjoy certain perks. You can:
Keep inquiry private. Your queries will therefore be known by you and you alone. Remove watermarks from queries and visualizations. Export results to CSV Get qualitative results without waiting in a queue Run six queries in parallel.
HOW TO USE DUNE ANALYTICS
Write queries about Dune
The Dune analysis program makes it easy enough to write queries from scratch, even if you’ve never written programming code in your life. The easiest way to start is to fork an already existing query with slight changes. It does not have many complications, and it takes less time.
However, if you want to write a query from scratch, you need to define what exactly you want to know. This makes it easy to carry out the specific purpose. After doing so, follow these steps:
Go to the Dune website and log in. Select ‘Create’ and then ‘Query’. A list of existing specialized SQL tables will appear. Search for the one closest to your query Click on the selected table to show all the available columns Click the double arrow to paste the selected column(s) into the query section Press ‘export’ to run it Save your work by Ctrl+S to print. You have created a new query!
Let’s consider an example to make it clearer. If I want to find out about the first five transactions on the Ethereum network, these are the steps I will follow:
I will select ‘create’ and then ‘query’. A list of specialized SQL tables will be displayed. Tables like:
I will choose the first one as it is the closest to my query
I’ll click on the table to see all the available columns like hash, index, gas prices, etc. I’ll select the specific columns I’m looking for and click the double arrow to paste them into the query section. I will press ‘export’. That’s all. I have successfully created a new query.
Make visualizations
This is another feature of Dune Analytics that makes the data even more readable. To illustrate how you can create visualizations with your queries, let’s build on the example above. I successfully created a query and got a list of the first five transactions on the Ethereum blockchain. After that I will:
Select ‘new visualization’ from the menu bar Select the type of visualization I want. You can choose cards, bars, counters, etc. Let’s say I select a graph Select the X and Y axis of the graph in question and define the other parameters. It’s easy; just follow the screen prompts. Choose the style, color, label, etc., of the chart. Save.
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CLOSURE
In short, Dune Analytics is a powerful tool to track and get accurate information about various aspects of decentralized finance. With the wealth of queries and dashboards under its platform and the ability to create new queries and dashboards as you see fit, it can be your loyal companion as you swim through the murky waters of blockchain finance.
ALTERNATIVES
Dapp query
Like Dune Analytics, this platform also creates databases from data obtained from the Ethereum blockchain. It is also similar to Dune in that it offers visualizations to make data more readable and pre-made dashboards.
However, in contrast, it comes with a more interactive UI, with three different plans, namely: the free plan, the Pro plan ($199 per month) and the Premium plan ($299 per month).
Glass button
Glassnode is another powerful tool for crypto key metrics that makes the process of crypto analysis much simpler. It has the following features:
On-chain market indicators such as market capitalization, wallet addresses, on-chain exchange activities, etc. More than 200 unique chart statistics are categorized in easily accessible groups. It analyzes not only Ethereum. It goes further to include more crypto-assets. It has a function to compare different coins with available statistics. It has three payment plans: there is the standard plan (which is free), the advanced plan (which costs $29 per month) and the professional plan (a whopping $799 per month).
Coinmetrics
The name gives this program away. It is a comprehensive arsenal with more than a hundred crypto-assets and more than three hundred statistics. It has unique statistics like supply charts, miner metrics, realized limit, crypto exchange statistics, mining pools, etc., as well as standards like volume, MACD, price charts, etc.
In addition, Coinmetrics also includes the option to export your analytics data to CSV, Excel and PNG. This is an improvement on Dune analysis that only allows you to export to CSV.
Coin 360
This is the simplest of them all. It displays all the supported cryptocurrencies in a single tab with sizes proportional to their market cap dominance. It also uses a color code, depicting rising crypto-assets as green and falling crypto-assets as red.
You can create watch lists to track your favorite coins using different criteria. To add sugar to honey, this tool is completely free and accessible to everyone.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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