INTRODUCTION
This article will give you a bunch of helpful tools to make the most of your involvement in the DeXe project. Read on my friends.
Since October 2020 the DeXe Token has risen by 3340% (Coingecko Data). Even in a bull run year, that has come to expect big returns from well established altcoins, DeXe has been seen as a massive success story.
Even at the current price level the DeXe token is expected to continue to do well, since the launch of the main product is yet to be announced— DeXe Investments.
Check out the links below. They are my pick of the tools available that will help you profit from your DeXe investments once it launches, or even now by using the Wallet 2 Wallet Tool.
TOOLKIT INDEX
Forecasting
Most successful traders are successful because they forecast the market. This isn’t the same as predicting the market. Nobody can predict the market, if they say they can then they are lying and you should stay away. But forecasting is something that everyone can do. Forecasting is about analysing the market conditions so that you have a better sense of the trajectory of travel. It’s also about the long game, a marathon not a sprint. If you are always looking for the quick win or a quick profit then you’ll be tempted to try and predict the market, which is incredibly risky, very foolish and it’ll be a sure fire way of getting rekt. So here are a few ways in which you can forecast better, and forget about predicting it.
QUICK LINKS
Coingecko.com
DexTools.io
DeXe Wallet 2 Wallet Copy Tool
DeXe Wallet Info Tool
Orion Protocol Trading Graphs
- Contract Address — Always check you have the correct contract address. There are so many fake coins out there that will quickly soak up your cash, and you’ll never see it again.
- Token History — Head to Coingecko to get a look at the token price history, you can also check the number of holders, contract details, and other useful info- like coin circulation and market cap. If the project is good, and has a good real world use case, has a low market cap, low circulation, and low price, then you have stacks of room for growth.
- The Big Picture — Taking a look at all the data together is a bit tricky with coingecko but using DexTools you’ll have all the right info on the same page. Perfect for making trades on ERC20 and Uniswap.
4. DeXe Wallet Analysis — Dexe.Network has a great tool that shows how profitable an ERC20 wallet has been over time, by monitoring their uniswap trades. This is perfect if you are thinking of following another trader using the DeXe.Network wallet 2 wallet copy tool.
5. Graphs — There are literally thousands of traders all over the internet who spend their life analysing and commenting on graphs. There is always someone out there who is ready to tell you about the next dump or pump, and they don’t all agree. The main thing to remember is don’t start thinking you can predict the market, and don’t fall for the idea that someone else can. The best thing you can do is to know whether you are in a bull market (buying pressure) in which the price tends to edge upwards, or a bear market (selling pressure) in which the price is falling. Graphs can tell you that. I find using Orion Protocols graphs quite useful.
Community
A good community around a token will normally indicate potential. By checking out marketing, publicity and community support for a project, you’ll get a sense of the overall momentum the project has. It is true to say that most of the popular projects in social media terms are also the projects that have performed better financially. This isn’t always true of course, so you’ll need to make sure you do plenty of research before dipping your toes in, but it can be a very helpful measure of how well a project will do on the market if its already got a healthy following. Here are few helpful resources when it comes to assessing a projects community influence.
Quick Links
LunarCrush
Web Telegram
Twitter.com
- LunarCrush — delivers community insights to crypto investors, funds and exchanges. Through research applications and APIs, get real-time insights that help make informed crypto investment decisions. The two most important indicators are i. the Galaxy Score which indicates how healthy a coin is by looking at combined performance across markets and deep social engagement; and ii. AltRank which is measurement that combines altcoin price performance relative to Bitcoin and social indicators. The platform has loads of other great resources for assessing the social media reaction to your focussed project.
- Telegram — Almost every new token or project will have a Telegram Channel, if it doesn’t you’ve got to ask why. The Telegram Channel will tell you a bit about the popularity of the product and whether it gets lots of positive reaction or negative. If the folk in the Telegram channel are unhappy then stay away!
- Twitter — How busy are their hashtags? You’ll get a sense of the project’s momentum by taking a look at the project’s twitter account and the hashtags associated with the token.
BONUS INFO — Farming and Liquidity Pools
Slightly off topic but it is related to how you can further benefit from your investments, especially if you are a DeXe hodler!
Two things you should be aware of before farming.
I’ve written two articles to help with both… you’re welcome :D
I do hope you found this article helpful. I’ll refresh the article when more tools are released from DeXe or from any of their partners. For now, goodbye and enjoying trading!
