TapTools on the Cardano Blockchain: What You Need to Know

Cardano is one of the most reliant blockchains providing support for decentralized applications to work efficiently without compromising speed and performance. The platform always emphasizes user-friendly and interactive approaches for trading, and the Tap tool developed on the platform is aimed to help Cardano users interact with the Cardano blockchain and applications.

Table of Content

• What are Cardano Tap Tools?
• Advantages of using Tap Tools.
• Tap Tools Features.

What are Cardano Tap Tools?

Cardano Tap Tool is a platform in the Cardano blockchain that provides users with a complete outlook of the Cardano platform at a glance. It includes price charts, portfolio management providing wallet services, and price alerts. 

The tap tool helps users monitor their assets, providing insight into price fluctuations and live trends, and also supports interaction with decentralized exchange (DEX) tools. 

Advantages of Using Tap Tools

Cardano Tap tools provide many services to blockchain users, from offering price charts to aggregating information on DEX platforms, it assists users with every interaction on the Cardano blockchain. Main advantages include,

1. Portfolio Management

Tap tools help users to link their crypto wallets with the Cardano Blockchain. Once the wallet is connected with the blockchain, the tap tools track the wallet to view transaction history and evaluate losses and gains to provide portfolio performance. The portfolio evaluation helps in the effective utilization of assets and also detects anomalies in wallet transactions.

2. Asset Tracking

Tap tools provide users with information on the price of the existing assets in the Cardano platform including native assets and Non Fungible Tokens (NFTs), along with their live price, trading volume, and historical data. This helps the user in effective decision-making and better utilization of assets.

3. Decentralized Exchange Tools

Tap tools allow users to access decentralized trading tools directly within the platform. One can swap and process transactions directly in the Cardano interface. Users can set price alerts to their assets, and get regular notifications on live prices, fluctuations, and market trends, helping them to mitigate the risk of volatility in the crypto platforms. 

4. Market Trends

Tap tools give an insight into the crypto market by providing the latest news and updates on the platform. The platform features news, analysis, and information articles to give users updates about the happenings of the market, allowing them to make informed decisions. The platform conducts AMA sessions and discussions to share knowledge on the upcoming developments in the market. 

Tap Tools Features

When you open your TapTool account, you can see many hovers including market, charts, wallet profiler, and more. Some features can be accessed by everyone whereas others require pro access. What do all these features are used for? Let’s find out.

Tap Tools Free Features

Following are the free features provided by Tap Tools on Cardano Blockchain;

1. Markets

The market includes different lists, showing the latest trends in the market. 

• The top 25 lists the top twenty-five tokens or NFTs that are popular in the Cardano network.
• The Trending list shows the most traded tokens in the last twenty-four hours.
• The top gainers list includes the assets that have experienced significant growth in a specific period of time. 
• The top losers list includes the assets that have encountered significant loss in a certain period. 
• The recently added list shows the latest assets that are added to the Cardano Decentralized Exchange (DEX).
• The view all section views all the trading pairs on the Cardano DEXs.

2. Chart

The chart page includes the price of the tokens, trade history, token details, and market sentiment indicators. Sentiment indicators include momentum, volatility, and trend indicators.

Tap Tools Pro Features

Following are the pro features provided by Tap Tools on Cardano Blockchain;

1. Wallet Profiler

Wallet Profiler is a tool used to track other Cardano wallets to give users insight into the investment strategies allowing them to make informed decisions. 

• The overview page displays the information about the wallet, including overall value, trade history, and top holdings and trading volumes.
• The portfolio page gives an outlook of the portfolio value, different versions of the portfolio over time, assets held, and net worth.
• Associated wallets allow users to track the path of assets through different wallets, providing insight into overall trades done through the Cardano platform.
• Trade history tool analyzes the trading activity of a user, allowing to analyze the trade performance. 

2. Watchlist

The Watchlist tool allows the creation of a list of tokens whose values and prices are to be monitored. By clicking on the star icon of the crypto tokens, the user can easily add the currency to the watchlist and get price information.

3. Hot Wallet 

The hot wallet feature allows investors to analyze matrices related to the use of active wallet addresses. It includes information on 

• The total volume of ADA traded by a wallet.
• Total ADA available in a particular wallet.
• Most recent fungible token transactions.
• Most recent nonfungible transactions.

4. Volume Profiler Pro

It is a set of tools that helps users make better-informed decisions. By making a comprehensive analysis of the trade volume of a token, the volume profiler feature helps users stay ahead of the competition and mitigate the volatility risks.

5. Distribution Pro

Final Thoughts

TapTools platform allows users to interact with the Cardano Blockchain network. It helps to analyze the price, view market trends, execute decentralized swaps, and many more. By utilizing the TapTool account users can make informed decisions and reduce the impact of volatility in the Cardano Blockchain.