While it might seem like the cryptocurrency market is unpredictable and risky, there are ways to track its trends to make smarter decisions about your investment strategy. One of the most reliable crypto trackers is SolScan, which helps you view crypto statistics in real-time to stay on top of all current happenings in the cryptocurrency market.
What Is SolScan?
SolScan is a tool for data analytics on the Solana blockchain. It is a very well-liked alternative to Solana's blockchain explorer, the Solana explorer, which serves as the official explorer of the Solana blockchain. The Solana project, renowned for its blazingly fast transactions and supportive developer community, is one of the world's decentralized public blockchain protocols with the highest growth rate.
A blockchain might be confusing to navigate due to the many different numbers and complex codes, but SolScan makes it much easier to view transaction data on the blockchain. With SolScan, you can monitor everything that transpires on the Solana blockchain. Not only can you view transactions on the blockchain, but you can also view tokens, blocks, NFTs, crypto whales' activities, and smart contracts.
4 Ways You Can Use SolScan
Solana has unquestionably made a name for itself as one of the significant additions to the blockchain world. With SolScan, you can access all cryptocurrency transactions listed on the Solana blockchain, just like with the Solana Explorer. These consist of wallet addresses and block numbers.
You can also access other helpful data regarding a cryptocurrency, including market cap, supply, and transaction per section (TPS) rates using SolScan. Although you don't need an account to use SolScan, having one is useful if you want to keep track of your transactions. You can log in to the tool using your Solana wallet account for free.
Now, let's examine how you can use SolScan.
1. Track Transactions
In the Solana network, every transaction is accompanied by a unique signature. The signature is contained in your smart contract, which comprises a lengthy string of numbers and letters.
You can use SolScan to track a transaction you are making on Solana. Here is a detailed description of how to track transactions using SolScan.
- Copy your transaction signature and paste it into the Search field.
- When you press Enter, SolScan shows the transaction's overview, SOL balance change, and token balance change.
- Check the Overview section to see whether the transaction was successful, how long it took, and the block number's ID. The account balance is displayed on the two Balance Change tabs before and after the transaction.
- Alternatively, type in your wallet address in the search field and hit Enter. You'll then be directed to your account page, where you can view any information related to your wallet, including past transactions, SOL balances, and your other accounts linked to it.
2. Track Crypto and Tokens
On SolScan, you can search for any cryptocurrency or token, just like in the Solana explorer.
To check the details and status of any coin, enter its name in the search field. Let's look up the USD Coin as an example.
- Click USD Coin (USDC) from the dropdown menu, and the overview page will appear. Just like you would find on the apps for tracking crypto stats, you can find the market cap, current supply, number of holders, and other relevant details regarding USDC here. The USDC transactions are the most relevant data in the tab below. Starting with the most recent, this section lists all USDC transactions. You can see the amount transferred and the wallet to which it was sent. You can even see how much fee is charged.
- You can access the account page by clicking on one of these addresses, as we did above. Remember that SOL balances, not USDC, will still be displayed. You can use the same steps mentioned above to look up tokens. On the main page, select the Token tab to get a list of the available tokens. If you select a token from the list, SolScan will provide you with an overview similar to the token's official website.
3. Track NFTs and DeFi Apps
SolScan has NFT and DeFi dashboards that allow you to view a comprehensive breakdown of Solana's NFTs and DeFi applications.
You can access Solana's NFT collections through SolScan and provide details on all the NFT trades that involve Solana. An NFT dashboard appears when you click the NFT button on the homepage. This NFT dashboard includes details on every NFT that Solana sells.
Every NFT collection in the Solana ecosystem is profiled on the dashboard. You can find details on each NFT collection's Solana marketplace on this dashboard.
4. Track Crypto "Whales"
Following the transactions and movements of the largest and wealthiest investors in the industry, sometimes known as "crypto whales," is a recent trend in cryptocurrency. SolScan can help you in doing just that. After finding the whale's wallet address, you can access a significant whale's assets and transaction history. In traditional finance, this level of transparency is unheard of.
The whale may have fascinating projects in their portfolio that you can peruse to learn more about before making an investment decision. You can also try to use the whale's transaction history to decide whether it is a great time to buy or sell cryptocurrency.
It's crucial to remember that keeping tabs on crypto whales is not a proper investing strategy and is risky. Social media is rife with accounts of people who try to copy the trading patterns of whales but are unsuccessful. Therefore, you should only use tracking crypto whales as a minor part of your overall investing strategy and decision-making process.
SolScan: Convenient Tool or Clunky Tracker?
A blockchain explorer is necessary for everyone interested in learning more about and using blockchain. SolScan is a well-known substitute for the official Solana explorer. It converts complex process data into easily readable information. You can use SolScan to view crypto addresses, processes, blocks, smart contracts, tokens, and crypto whale activities. It does not require an account and is free to use. And you can also register and log in for better functionality.
SolScan presently serves over 2.3 million monthly users and 180 million data requests monthly. It has risen to become the top explorer inside the Solana ecosystem, partly thanks to its integration with other renowned projects. Many upgrades are also in the works to offer users better, more personalized, and intimate experiences.