What we provide

CounterTools is a free, on-chain-native explorer and analytics platform for assets issued on Bitcoin via the Counterparty protocol. We track every collection, asset, dispenser, DEX order, holder snapshot, OpenSea bridge listing, and cross-chain market signal — and we publish a complete methodology behind every number.

• Price discovery for ~200,000 Counterparty assets across DEX, dispensers, and the OpenSea (Emblem Vault) bridge.
• Collection currency tracking for the 9 official currencies (PEPECASH, BITCRYSTALS, BITCORN, BOBOCASH, DANKMEMECASH, MAFIACASH, WILLCOIN, RUSTBITS, COCOCASH) with multi-hop pricing and history charts.
• Floor prices that filter dust orders so the displayed number reflects where you could actually transact.
• Holder snapshots and leaderboards showing who owns what, refreshed every 6 hours from the blockchain.
• Address dashboards with portfolio valuations, holdings, and trade history.
• OTC tracking for off-orderbook deals through the CounterTrader bot.
• A public API (v1) for blacklist checks and collection currency prices — free, attributed, rate-limited. Other endpoints power the site and require a COUNTERTOOLS Claim.

Why on-chain native

Counterparty trades happen in three places: the on-chain DEX (assets traded against XCP, PEPECASH, BTC), dispensers (BTC-priced vending machines posted by issuers and holders), and external bridges (OpenSea via Emblem Vault wrapping). The vast majority of activity — especially for the long tail of collection currencies and Rare Pepes — never touches a centralised exchange.

We treat Counterparty's own on-chain data as our primary truth and surface external venues alongside it for completeness. A small DEX trade against XCP between two community members is just as much a real market signal as a CoinGecko ticker — sometimes more, because it's the only price discovery the asset has.

How we derive a price

Some assets trade actively against XCP (Counterparty's native currency), which gives us an immediate XCP price and a USD value via the XCP/USD rate. But many assets don't trade against XCP — they trade against PEPECASH, against other collection currencies, or against each other (think Spells of Genesis cards swapped for BITCRYSTALS).

For those, we use multi-hop pricing. If BITCORN trades against PEPECASH today, and PEPECASH itself has a fresh XCP rate, we can derive BITCORN's XCP price by going through PEPECASH: BITCORN/XCP = (PEPECASH amount / BITCORN amount) × PEPECASH/XCP. The final BTC↔XCP conversion (when we need to express a price in dollars) always uses a current global rate, so the error in any single hop doesn't snowball.

The result: even thinly-traded assets that haven't directly touched XCP in years can show a fresh price as long as something they trade against has price discovery.

How we keep wrong numbers out

Two filters do most of the work of preventing bad prices from appearing on the site.

MAD outlier rejection for dispenser prices

Anyone can post a dispenser at any price they want. Most dispensers cluster around a sensible market price, but some are set wildly high (sometimes by accident, sometimes as a long-shot listing). Rather than picking just the lowest one (which would let a misconfigured 1-satoshi dispenser drag a floor to zero), we use a statistical filter called MAD — Median Absolute Deviation.

$10 minimum order value for DEX floors

When we calculate the "floor price" for an asset from open DEX sell orders, we ignore any order whose total value to the buyer is less than $10. The reasoning is simple: if someone is selling 5 cents' worth of an asset at a wildly cheap unit price, that's not really the market — no serious buyer is bothering with a 5-cent trade, and pretending that's the floor would mislead everyone else.

Why transparent methodology matters

Counterparty has been around for over a decade, and its asset markets are illiquid by design. That means valuations are noisier than on major exchanges, and any platform claiming a single "market price" for, say, a Rare Pepe is making editorial choices that affect portfolios worth real money. We expose those choices.

If you disagree with one of our floors, you can:

• See which specific order (or dispenser, or recent trade) produced it.
• Look up our threshold for that asset class.
• Inspect the multi-hop path if it's indirectly derived.
• Read the deep-dive doc for each metric.
• Tell us we got it wrong — we update when we're convinced.

We're built by traders for traders. Every methodology decision on this site was made because someone needed to value real assets for real reasons (portfolios, taxes, OTC deals, fair-trade negotiations) and the answer mattered.

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