This article introduces DEX Balance and the step-by-step guide to using this metric.
The DEX Balance chart shows the sum of the circulating supply of a particular token across 10+ decentralized exchanges (DEXs) and the respective supply of the first 3 DEXs.
For instance, suppose a sum of 100,000 examplecoins are circulating in the market, and 30,000 of them are on decentralized exchanges based on Candlestick data tracked. In this case, the DEX Balance is 30,000 (20%).
How can I use it?
By reading this metric, you can know the total circulating supply of a particular token on DEXs and which DEX accounts for the most significant supply in the market. These data will help when you want to trade the tokens in a pool with better liquidity or choose a DEX for liquidity staking.
1. Choose a cryptocurrency
Candlestick supports 200,000+ tokens.
- Log in to select the token you want to check.
- Click the drop-down list on the left sidebar to find a target token.
- Directly select Metric Group – DEX Trades and click the DEX Balance to see the number.
2. Understand the chart
This indicator is presented in the column chart. It shows the balances of the top 3 DEXs and the sum number of others.
- By default, this metric will show data changes daily, and you can click on the date groups located above the chart on the left to choose the time dimension you need.
- Hover around a specific bar to check detailed balance distributions.
- In addition, the chart can show the certain data you want to check by clicking on titles in the upper right above the chart to hide other data.
The DEX Balance metric is an overview chart that can reflect the liquidity situation of a token on DEXs. For traders, you need to combine it with other metrics Net Add Liquidity and DEX Liquidity for deeper analytics to identify the bullish and bearish signal.