CoinScan, a cryptocurrency analytics platform designed to give traders an edge in the market with free comprehensive charting and safety features, has emerged from stealth, raising $6.3 million to continue developing and expanding its product line. The company is backed by among others, DraftKings’ top shareholder, Shalom MecKenzie and Playtech CEO Mor Weize. CoinScan is developing a cryptocurrency analytics platform to supply investors with comprehensive market charting insights.
The first product from Web3 company CryptoHub, CoinScan is on a mission to enhance the blockchain economy with scalable and easily accessible solutions. CoinScan’s ultimate goal is to revolutionise the cryptocurrency analytics industry. The tool provides traders with an in-depth analysis of cryptocurrency charts, allowing them to identify and avoid fraud, scams, and rug pulls.
The company is launching a central repository of crypto information users can rely on for reliable, up-to-date intelligence. Trading essentials such as liquidity locks, token taxes, contract renounce status, and honeypot risks are made available to users on the platform. Traders can now assess token circulation and health with the use of features like airdrop analysis, social sentiment analysis, and holder analysis.
“No one wants to spend all of their time researching and analyzing blockchain transactions and social media just to avoid getting scammed. The bar for crypto data was very low, so we built the platform that we wished we had,” said Eliran Ouzan, CEO of CoinScan.
CoinScan’s features
- CoinScan’s crypto trading analytics platform has undergone two years of development and beta testing. Among CoinScan’s many innovative safeguards against fraud are:
- Security Checks: This function analyses vital indications including liquidity locks, token taxes, contract renounce status, and honeypot risks in order to determine a token’s vulnerability to rug pulls or scams.
- Holder Analysis: Using CoinScan’s charting terminal, investors can monitor the circulation and overall health of a token in real time. Users can monitor the purchasing and selling actions of the leading wallets as they track wallet balances in tokens and USD.
- Airdrop Analysis: This function allows traders to identify wallets that have received airdrops, evaluate their worth, and cross-reference this information with social feeds to check legitimacy, thereby protecting themselves from ‘soft rug’ frauds.
Because of the significance of social sentiment in the cryptocurrency industry, CoinScan incorporates real-time project feeds from social media platforms like Twitter, Telegram, Reddit, and Instagram. This empowers users to glean insights about a token directly from the community.