This article will explain a step-by-step framework to assist you in evaluating various crypto projects. Thanks to our in-house traders, we were able to ride such insane price rallies ourselves. That’s why we decided to create an easy-to-use tool that will empower casual traders and crypto investors to do the same. YouTube is much slower for real-time information how to find new crypto coins because creating content takes considerably longer than just sending out tweets. It’s also perfect for beginners who want things explained to them in a simple, digestible manner. If you want to follow websites, stick to the most popular ones, with large followings on all social media channels, as you are most likely to get quality information there.
I’m not going to get into this too deeply since you’ll find an article about TradingView from Coin Bureau. Posting the latest news, reviews and analysis to hit the blockchain. All of the features on CoinMarketCal are free and what I like about the site is that it’s strongly community driven. Anyone can post events and they then get voted on whether they’re legit or not. This voting system also allows CoinMarketCal to sort the hot picks from others and it makes it easier for you to find interesting opportunities.
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After all, there are over 10,000 cryptocurrencies and tokens out there. The road map may be available in the white paper, though most crypto project time lines are ever-changing and are listed on the company website. If there is no defined road map, or if the milestones are too generic, this is a red flag. Cryptocurrencies should have a clear vision of what goals they are setting out to accomplish, with an established road map of how they will get there. This should be readily available in the crypto white paper, as well as on the company website.
Road maps help you to understand what a crypto project wants to achieve in a given timeframe. Keep in mind that software projects are often very complex so delays happen frequently. Keeping us in the same category, here is another awesome analytics tool. CryptoQuant offers visual charts of just about everything, which makes it another tool to use to see what others are doing. I don’t want to bore you with going through everything they offer, which is why I’ll stick to a few metrics and explain why they might come in handy.
What’s Fetch.ai, How Does it Work, and How to Buy the FET Crypto?
This is a score that measures the crypto against itself using four performance indicators, found in the picture below. This compares the project’s price actions and data to Bitcoin, and number 1 is the best. Now, many of you might have heard or seen the word liquidation used when the market crashed. For those of you who don’t know what it means I’ll explain in one sentence. Liquidations mean that leveraged traders are forced to sell what’s left of their holdings due to the price action of the asset which has caused them to lose money.
These sales may be announced on social media, news sites, or crypto-focused tracking sites like CoinMarketCap. As with every crypto asset, it is important to thoroughly research a project and team before making an investment. For swing traders, it offers the perfect trading research since many cryptos tend to pump before a major event. This can be anything https://www.xcritical.in/ from projects launching on a certain blockchain or an upgrade like EIP 1559 kicking in. Other forms of news found on the calendar could include some exchange listings or ICOs, both being excellent potential trading opportunities. Last time I gave you a few metrics to look for and those were total active address and NUPL (Net unrealized profits/losses).
Cryptos that have utility are usually better investments, especially if they can be used by a large number of people. When you create an account with Cointree, you’ll automatically receive a free portfolio tracker available in your dashboard. You can quickly see how your portfolio is performing and then make a trade in seconds.
With sentimental analysis, you’re looking past the numbers to see what the market is thinking and feeling. As a result, this research is often done through social media, public forums and news stories. Telegram and Discord have a clear advantage; they are the best places to actively be part of a community. Crypto airdrops are a marketing activity that involves sending free coins or tokens to wallet addresses to promote awareness of a new currency or token.
- A high allocation of tokens to internal team members or investors makes the token vulnerable to a few large holders and highly centralized.
- The above factors will give you some insight into whether a team is strong and likely to make their project successful.
- However, if the token is being used to power a decentralized application (DApp), then the tokenomics will be more complex, and its value will be more stable.
- Glassnode gives us a wide variety of on-chain analytics and therefore if you’re not familiar with on-chain analysis you might be overwhelmed.
- I’ll leave a picture below so that you can see what they are based on.
- Then, using AI and a lot higher IQ technologies way out of my knowledge level, they form a few different rankings for you two to know what the sentiment around a crypto is.
CoinMartketCap features the basic statistics you need to begin your investigation of most any crypto project and its related coin or token. For the market as a whole, you find the number of cryptos out there, the total market cap and volume, along with BTC dominance and ETH gas fees. On top of these, you’ll find top news from all your favorite sites. Then when we move into individual cryptocurrencies CoinMarketCap offers all the basics like price, market cap, volume supply, a brief description, and a few other things. What I like about the platform is that all of this is easy to check, and you can also create your own watchlist.
There is a wide range of metrics you can filter by to narrow down the search. These include the likes of market cap, volume, time from ATH, % down from ATH, category, and a lot more. The important thing with Messari and volume is that they report the actual volume and not the one reported by many sketchy exchanges. Lastly, if you’re wondering on the cost, I’ll be happy to tell you that to access those statistics I mentioned plus lots more it’s completely free.
CryptoQuant
Researching the reputation of the team and leadership of a cryptocurrency can help investors understand if the crypto project is reputable or not. Most crypto projects have a clearly defined executive team that handles the vision, execution, financials, and marketing of the company. Learning more about who is leading a cryptocurrency team can give insight into the probability of success for a project. The white paper should clearly define the goals of the project, how their technology will achieve those goals, and how the cryptocurrency will function. Most white papers define a problem that is being solved with the advent of the currency itself, and this problem and solution should be crystal clear to investors. Bitcoin, on the other hand, was designed purely as a payment method.
These positions will close in two weeks and the top performances in percentage terms will be awarded. Currently there aren’t many users so if you want to try to win some SAN you have a great probability. Other use cases for SanR are to look at the consistent top performers and maybe follow what they do. Santiment also has plans to make the ecosystem even larger and greater by incorporating the SAN tokens. And don’t worry, the performance of SAN is a lot rosier than Lunr, though it is down considerably over the past month, mostly due to broader market forces. That said, Coin Metrics is still a great site which is why I have listed it here although my personal preferences are for other sites.
Typically shown on a line graph, the road map should have clear and concise milestones broken down on a quarterly basis, all moving the project toward a predefined set of goals. Also, the “About” page on any cryptocurrency’s website should clearly articulate who is helping build the project and what their expertise entails. As a rule of thumb, the more information a team is willing to publish about its project on their website and in their whitepaper, the more trustworthy it is. You need a clear understanding of what this crypto project is about, the industry it is aiming for, and what issues it tries to solve.
Lastly a nice thing to also check on once in a while is how Bitcoin is performing relative to the stock-to-flow model. If you don’t know what the S2F model is then CB has got you covered again. Shortly, it’s a valuation model that has so far proven to be one of the most accurate in projecting Bitcoin’s price. All the things on Coinglass are free and although I only mentioned Bitcoin, they have statistics on a variety of altcoins. And do you know the best part of all of the learning opportunities at Glassnode?
A great choice if you want to find brand new projects before most others do. Usually, only well-established cryptocurrencies are supported by hardware wallets. For smaller projects, you can usually use dedicated wallets or keep your coins in an exchange.
When you’re done reading, always consult other SM channels to try and get the full picture. A good crypto project will be upfront about its team and developers and should have a number of impressive partnerships. The website should share useful information about the key people behind the project. Poor designed websites, spelling errors, and a lack of transparency around the team are all red flags of an outright pump & dump scheme. Checking out a project’s official website is vital if you are considering investing. These days, a quick gig on Fiverr can create a convincing website, so don’t be fooled by the flashy appearance and UI of a website.