Analyze Crypto Trading Trends & Spot Whales with Coygo

We’ve been hard at work at Coygo developing features for real-time insights and analysis of digital asset markets, since we know getting an edge over your competition is all about data. You need access to as much real-time data as possible, and you need that data shown in ways that provide meaningful insights at a glance.

Today we’re happy to announce a new tool that we provide within Coygo, Trade Analysis. Our users can now view trades as they occur in real-time and analyze recent trade activity on any exchange or market that Coygo supports (Coinbase Pro, Kraken, Poloniex, Binance, and Bittrex as of writing). Compare recent buy vs. sell order count, and buy vs. sell cumulative sums on any market. This is enabled for every user, no API keys required.

Trade Analysis screenshot

Spot whale activity with Trade Analysis

One great use for the Trade Analysis tool is to quickly spot if an increase in buy or sell volume is due to a whale making one large order, or a number of smaller trades. One individual making a large trade can influence prices when they chew through an order book, but a large number of smaller trades trending in one direction may mean that there is growing positive or negative sentiment across a number of people, not just one individual.

Trade Analysis displays two graphs. On the left we see “Cumulative buy sum vs. sell sum”. This charts the cumulative sum of buys and sells over time. A steep increase for either area chart (buy or sell) means that there was a large increase in volume of trades.

To the right we see the corresponding “Cumulative buy vs. sell count” chart. A steep increase for either area chart (buy or sell) means that there was a large increase in the number of trades.

A whale places a large sell order

In the example above we can see that the total volume of sells (red chart on the left) increases dramatically over a short period of time (a few seconds), while the count of sells (red chart on the right) stays relatively the same with only a slight increase. This shows us that a large order was placed by one whale, or a small number of traders. Perhaps one whale made a large sell and a few trading bots saw that activity and decided to follow suit.

Try Coygo now for free

If you think tools like this could help you with your crypto trading, we welcome you to sign up for our beta at coygo.app. This is only one of the many real-time insights tools that we provide, we also offer real-time order book analysis, a real-time arbitrage scanner, to name a few. You can learn more about what Coygo has to offer on our website.