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Daily Brief

Watching Tokens with Dex Screener

Find token opportunities across the crypto economy with this tool.
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Sep 18, 2023 • 6 min read

Dear Bankless Nation,

There's a lot of alpha out there. It has never been easy to find, but the tools to visualize it are getting a whole lot better.

Today, we take a look at Dex Screener – a popular tool among traders that can be a secret weapon (if you know what you're looking for!)

-Bankless team

Getting Started with Dex Screener

Bankless Writer: William Peaster | disclosures

A few years ago there were maybe a dozen Ethereum tokens worth watching closely. 

Fast forward to present day, and dozens of tokens are launched on Ethereum daily. Of course, many of these new tokens are riff raff, and some are definite scams, so you have to be careful and do your due diligence before taking a ride on the coin of the day or searching for diamonds in the rough.  

Toward that end, a great token analytics platform is Dex Screener. Dex Screener is a one-stop platform for all things related to decentralized exchanges, so if you can trade it in DeFi, then you can analyze it on Dex Screener. The big idea? Track, analyze, and act on real-time data from a vast array of DEXs across a range of different chains. Surface the signal from the noise on Dex Screener’s web platform or its Android and iOS mobile apps. 

As for diving in, it’s easy to get started. For example, on the website you can begin customizing your dashboards by signing in with an Apple or Google account or connecting your Ethereum wallet, e.g. MetaMask. 

As you can see below, the main dashboard on the platform currently defaults to automatically sorting token pairs by the number of transactions over the past 24 hours. You can use the “Last 24 hours” button at the bottom of the page to pick a different time frame, e.g. 5 minutes, or the “Rank & Filter” button to search for tokens in more granular fashion. 

via Dex Screener

At this point, you can click on a specific token pair of interest to zoom in on its recent transactions, top traders, liquidity stats, market cap stats, and more. For example, this page tracks the Wrapped Mantle and USDT pair on the Agni DEX:

via Dex Screener

That’s just the front page of the platform though. If you want to start checking out some of the other functionalities, look over to the left sidebar – here, you’ll find Watchlist and Alerts hubs, where you can pick out specific token pairs you want to watch closely and create price alerts to let you know if/when your price targets are reached. 

Next up is the Multicharts dashboard, where you can pick out multiple token charts and place them alongside each other so you can watch price action across a range of token pairs simultaneously.

via Dex Screener

The last trio of dashboards are particularly interesting for us token analyzooors.

First is the New Pairs page, which surfaces liquidity pools that have just been created from around DeFi and tells you how old the pools are, the number of buys and sells they’ve facilitated, etc.. Next, is the Gainers and Losers center, where you can readily sort by which liquidity pools have seen the biggest price drops and rises over the past day. Lastly, there’s the Trends tab, that helps you quickly identify tokens that have just recently begun to trend sharply upward or downward. 

via Dex Screener

Of course, the buck stops with you as far as how to best use these analytics resources. But if you do your part and bring caution and shrewdness to the table, then Dex Screener has everything you need to elevate your trading game, whether you’re a DeFi novice or veteran. 

From customizable dashboards to trending tokens, this is a great tool for diving in and making educated decisions while you navigate the crypto frontier. Dive in, stay informed, and make the most of new DeFi happenings with Dex Screener. 

Action steps

MARKET MONDAY:

Scan this section and dig into anything interesting

*Data from 9/18 5:00 pm EST (DeFi Index = $DPI, NFT Index = $Blue-Chip-10)

Market Opportunities 💰

Yield Opportunities 🌾

What’s Hot 🔥

THANKS TO KRAKEN

Kraken, the secure, transparent, reliable digital asset platform, makes it easy to instantly buy 200+ cryptocurrencies with fast, flexible funding options. For the advanced traders, look no further then Kraken Pro, a highly customizable, all in one trading experience and our most powerful tool yet.

Money reads 📚

Governance Alpha 🚨

Token Hub: BNB 📈

Analyst: Jack Inabinet

We are initiating coverage of BNB with a rating of bearish

Catalyst Overview:

Binance has repeatedly found itself in the regulatory dog house throughout the second half of 2023. Both the CFTC and SEC have filed enforcement actions against the CEX and the DOJ is rumored to be weighing charges, but has allegedly hesitated over fears that charges could cause an FTX-style bank run.

BNB plays an opaque role on the exchange’s balance sheet and US regulators have already alleged that Binance has commingled user and exchange funds. Concerningly, the SEC is now requesting an urgent inspection into Binance.US usage of Ceffu, a custody service with unclear ties to Binance.

Price Impact:

BNB has been down-only throughout 2023 and we anticipate that this trend will continue. With custody practices coming under further scrutiny and the US regulatory apparatus cracking down on the exchange, it seems like only a matter of time before the full extent of Binance’s sins come to light.

See more ratings in the Token Hub.

Meme of the Week 😂

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

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