Open 5 ways to ‘read the game’ crypto through online information, easy and free!
Beginners can practice using these tools for further analysis. From the former that may use intuition, graphs or news and information. These are just some of the tools that are commonly used by people in the crypto industry. To read most people’s thoughts on the market through the behavior that happens on the blockchain or on-chain and how we the lobsters will decide our own investment plans #DYOR
1. Watch the Big Lot with “Whale Alert”
Big Lot Crypto Trading This information will be alerted via a Whale Alert signal when a large lot of coins are transferred. For example, if we see a warning signal that BTC, ETH or any coin has been transferred. From the personal wallet to the exchange (eg transfer to binance) may be implied that it was transferred out to wait for sale? The higher the value of the exchange being transferred, the more likely there will be a massive “pour” of the coin, for example.
Conversely, when prompted, a transfer of BTC, ETH or any coin from an exchange (eg from binance) to an unknown wallet could imply a transfer away from the exchange for long-term storage. or not? The higher the transfer from an exchange, the more likely that the risk of the coin being heavily “drained” may have been reduced because it was transferred out of stock, for example.
“Anyway, it doesn’t mean that our expectations are 100% correct, because we can only read your mind (ha) according to the behavior we see. Maybe you can shuffle off a minor deception.”
* Easy to stick to this signal From Twitter Whale Alert (@whale_alert). https://twitter.com/whale_alert That’s it, you won’t miss any movements of P Whale.
[เรื่องที่เกี่ยวข้อง : คู่มืออ่านเกม ‘บิ๊กล็อต’ ผ่าน ‘Whale Alert’ ]
2. Look at the supply on the exchange with “coinglass”
The volume of coins in circulation on an exchange can lead to predictions of the price direction. It has been transferred to the outside for quite some time. Therefore, there is not much of a turnover left if you think about the demand-supply principle. When people want a lot but there is little in the market According to the price mechanism, it will inevitably go up. for example We take a look at “Bitcoin Balances on Exchanges”. We may use this as another indicator for planning our investments in the medium-long term. to predict price trends
We can see the change in supply in a 24 hour, 7 day or 30 day cycle. This information is free to look at, if you are diligent, you can always check it out. How many inflows and outflows are there at each time? in each exchange Sometimes journalists take this number to report. You have probably read a few things about the inflow and outflow of crypto coins from trading platforms.
As of the writing of this article, Bitcoin is in circulation on all exchanges (including 18 global exchanges such as Coinbase Pro/ Binance/ Bitfinex/ Gemini, etc.) 2.29 million BTC from 2.60 million BTC as of June 21, a decrease of nearly 12%. In a year’s time, compared to the bitcoin supply, now 19 million BTC in the world equals about 12% of the exchange’s current circulation.
*Check out Bitcoin Balances on Exchanges at https://www.coinglass.com/Balance
3. See the distribution of wallets via “bitinfocharts”
“Bitcoin distribution” tells you the distribution of BTC coins in the wallets of people around the world in ascending order. According to the data, there are 2,231 Whale wallets (1,000 BTC or more in wallets) and hold a total of 8 million BTC, or 42.41% of the current bitcoin volume in circulation (19 million BTC).
Of these, only 4 wallets with the most BTC are in the range. 100,000-1,000,000 BTC, of which these four wallets (whose unknown) hold a total of 665,082 BTC, or 3.49% of the current bitcoin volume in circulation.
That means that the world’s bitcoin is actually concentrated in more than 2,000 wallets, or two-thirds of the total amount of bitcoin in circulation on the planet. which the dealer will squeeze or will spit This small person like us has no way of knowing your heart at all.
We can look at how the distribution of bitcoin has changed. For example, wallets holding more than 1000 bitcoins mean more big players are entering the market. or more wallets holding less than 0.1 bitcoin, it can be assumed that more retailers enter the market, for example.
*Check here for free Bitcoin distribution.
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
4. View frequently traded accounts (Active) through “glassnode ”
We will take a look at how often the world has moved with bitcoins in their portfolios these days. or hibernating What is the popularity of a particular coin? Here we are going to look at bitcoin. We will look at wallets where the coin is actively used (Active), although it may not be the exact number of all users on the network. (because some people may open many bags Think about ourselves that have opened accounts with many banks. or a single bank with multiple accounts opened, for example), but at least shows the total number of wallets in motion.
in past history The movement of the wallet is related in the same direction as the coin price. And during this period, the active balance of bitcoin wallets fluctuates in the range of 800,000-900,000 accounts/day from a peak of over 1,000,000 accounts/day, reflecting the popularity of investors towards the coin at different times. Which may flock to buy or sell, it is possible both
*Check Bitcoin: Number of Active Addresses here
https://studio.glassnode.com/metrics?a=BTC&category=&m=addresses.ActiveCount
5. Check the income of the protocol via “tokenterminal”
You don’t have to wait to win quarterly like stocks on the stock exchange. Watch it in real time Check the earnings of different platforms In the crypto world for both 7/30/90 days or more at the website tokenterminal The income here does not mean that the income is piled up at the company. (Like a company we know generally) but is the income that is distributed among the holders of the token.
Let’s take a look at the earnings of all protocols in the crypto world. Regardless of layer 1, layer 2, Ethereum has been the No. 1 revenue in the past 365 days, followed by popular GameFi platform “Axie Infinity” in its ever-popular model, Play to. Earn and in third place is the famous NFT platform “OpenSea” that we are probably already familiar with.
In addition to looking at revenue (Revenue), the website also calculates the Price to sales (P/S) ratio and the Price to earnings (P/E) ratio to tell the cheapness of the price at that time. But be careful before applying this value. Because crypto projects don’t have the same status as the general companies we know.
For example, P/E is calculated from the “market cap” divided by the protocol’s “revenue” over a year, which is different from how the stock market P/E is calculated from. “market cap” divided “net profit”
Net Profit is income minus costs and expenses. But the crypto project is different. Use income as a divisor Because most of the cost and expenses are recorded outside the network (off-chain), which the data store like tokenterminal that cannot be reached But that is only accessible to the data that runs on the network (on-chain).
This does not include That we will forecast P/E in advance, which must predict future profits. Of crypto is to calculate the income of the future project. Oh!! This is not easy The size of a company in the normal world that is tangible Analysts still have accurate profit forecasts, some are not accurate. The crypto industry is changing very fast. Who knows if Ethereum’s good days will surely get killed.
*Check protocol earnings here. https://tokenterminal.com/terminal
Hopefully these 5 tools will be useful to us In addition to looking at other indicators as well, one thing that I would like everyone to be aware of is that No indicator is 100% accurate, but more important than any tool is “mindfulness”. In order for us to survive long term in all market conditions.
Graphic: Natchanon Poonchai (Boom)
