How to Research Crypto: DYOR on Crypto Coins!
https://www.youtube.com/watch?v=8WtOPj5TcKA
Transcript:
In this video, a very simple step-by-step process to analyze any cryptocurrency. If you’re coming to a crypto new or you know of one and you wanna do more research, you can use this very simple process to actually learn more, place that crypto within the market, and then try and analyze the future potential of it in terms of its business size, its market size, and everything like that.
I’ll leave the timestamps below for each section and each step in this process. First part of the process though is to look at the market stats and the overview of any cryptocurrency. The platform that I will use initially is CoinGecko. You can also use CoinMarketCap. It’s a very similar thing with almost all of the same information.
I prefer CoinGecko for just a number of reasons but you can try out both. The first thing we need to do, though, is obviously go and pick a cryptocurrency that we want to analyze. I’m going to choose BNB Coin here. And you can see a dashboard full of trading and market information. This is the first thing I’ll look at with any cryptocurrency to get an idea of like, is this a big crypto? Do other people actually trade this thing or is it just a joke? So that’s the first thing.
Who supports it? Is it supported on a centralized exchange or a decentralized exchange? You can come down here right to the bottom and look at BNB markets. So these are the exchanges that support BNB coin and you can see Binance right here. You can actually look at the 24 hour volume to see who the biggest exchanges are and then you can see all trading pairs.
So really what you want to do is just find does you know does this trade on big exchanges if you see binance and mexi uh you know ftx this is obviously a bitcoin and it’s bnb coin which is big um but if it doesn’t if it only trades on a dex and it’s a very small coin supported by very few exchanges then that may mean it’s just a small coin or it may set off some alarms to say, hey, this isn’t really what I wanna be getting into.
The second thing is trading stats and trading volume. What I mean by that is this bit right here. So we want the market cap, we want trading volume to see how big is this project. BNB coin has a 52 or $ billion dollar market cap so that’s obviously very large it’s one of the biggest uh platforms then you can see the 24-hour volume uh binance exchange obviously trades the most bnb coin 124 million so it’s obviously a very big coin with a lot of trading volume if we go back to the main uh the main, what we can see here is the 24-hour volume
trading stats. Bitcoin trades $25 billion worth of volume. BNB coin around a billion. That’s absolutely fine because the market cap is lower and it’s just a smaller coin in general. But obviously, as you come down towards the, you know, kind of 100 or so, you see the 24-hour trading volume is a lot less.
You you know smaller coins are going to have less trading volume but you want to see that there is some trading volume in this thing because that really is the marker of a healthy market within the asset then we just want to look at the market sector that something is in so for bnb coin what we can then do is look at all the information just within this actual specific page.
You can see their socials and you can look at some other information here. Go over to Twitter, go over to the main page of the project because every project should have one. And then what you can do is just find out their links to actually learn more. So you can learn more on the actual page itself and you can have an overview of like, what does this chain actually do? As an example, BNB chain, we all know it’s a smart contract platform and you can get that information by reading all of the info that they put out on their page.
So BNB is a smart contract platform. So having that in mind, what I can now do is go and compare it to other smart contract platforms. What I can now do is go and compare it to other smart contract platforms. So we’re looking at Ethereum, Cardano, Solana, Polkadot for the most part, and their ecosystem as well.
So they’re the competitors. So immediately I’m getting an analysis of like, what sector is it in? And then very quickly, I want to look at dilution and the valuation of that thing. What I mean by this is if we click on BNB, what you can see by the stats right here is circulating supply and total supply.
It’s really important for any currency or asset in investment is, you know, how many shares does it have? You call them tokens in crypto, but the total market cap, the total valuation is 53 billion. How many tokens does it have? You can see BNB coin has around 163 something million. The total supply is in circulation though.
That’s really, really good because that tells me that there’s no new tokens that are going to be created that are going to dilute all of my holdings. It also tells me that it’s a more mature coin because mature coins have most of their inflation out already. That’s a good sign and it means it’s probably a mature coin.
Now that also means that the growth may not be as fast as some smaller coins that are newer and potentially have more tokens to create. The reason why projects and coins create new tokens is essentially to incentivize new people to come in. They use them as incentives because it is an ownership of the network. And so they often just give away some of their equity to incentivize people to come in for many different reasons.
But that’s just like an overview of the market stats and the positioning of a coin. Now we’re going to move specifically onto the economics of each token, and then you can compare them across different tokens, different coins or different types of, and then you can compare them across different tokens, different coins or different types of assets.
So you can actually do this on CoinGecko as well. There are other platforms like Masari you can look up as well. I’ll go through some of those later on in this video. We’re going to look at tokenomics. Now, if you don’t know what tokenomics are, or if you need kind of a more basic guide, I have all of these videos on tokenomics in the crypto course.
It’s basically a step-by-step guide going through everything important on how to analyze cryptocurrency. We have tokenomics. There’s also a do-your-own-research step-by-step guide in the crypto course as well. And there are also private Discord groups as well with a few thousand members in there. I’m in there if you wanna ask me a question about any of this stuff as well.
I’ll leave that link to the description if you wanna check that out. But what I wanna do after I’ve done that initial analysis is to look specifically at the economics of each token. We’re going to do CoinGecko for this, but what you can see is I now know what the allocation of all the tokens are within this asset, within this investment.
So I can see that 60% of Cardano ADA’s coins went to the initial coin offering. So that was initial investors that funded the project. That’s fair enough. Around 10% to the team. And then the rest is staking rewards. A really simple split of who gets what tokens and who owns what part of the asset itself, the whole ecosystem.
Now, what you can see here is that there are some staking rewards and incentives that are paid to people that have come initially into the network and they rise over time, but eventually it will stop at 45 billion coins. And that’s it. There’s no more tokens and there’s no more inflation. So I can see that in Cardano’s example that it’s a fairly fair distribution amongst early investors people that stake and some for the team now you can compare that against something else i’ve got apecoin here and what we can see here is that um you know a lot 15 went to those nft holders the initial nft. We have Yuga Labs getting 15% and the founders getting 8%.
So, you know, that’s almost, let’s say 20, 25% or something for the founders, which is quite a lot. And then the treasury or resources here, that’s for future investments. So, and look at the inflation, is quite a high inflation over time as well, which isn’t great, which means you’re gonna have loads of new coins coming onto the market, unlocking, getting sold to pay for the investment of the ApeCoin games and ecosystem.
So what you need to do now, looking at the type of token, is to kind of differentiate these because different types of tokens now will have different types of supply and incentives. So what type of asset are you comparing here? It’s actually difficult to compare ApeCoin, which is a token versus Cardano, which is its own layer one ecosystem, but you can definitely compare and contrast these things.
So what type of asset is it? Now L1 tokens should really have a much more diversified supply. L2 tokens, really, or kind of apps, right? You can call these dApps as well. These are going to have much more of the tokens in the team’s hands because this is a lot more like equity. And so you’re basically just investing in that product rather than a network.
So that’s obviously different. Supply and incentives. Do they pay out incentives for people to use the ecosystem? Cardano ADA, much like L1 chains, pays out staking rewards for people to stake. That is an incentive. Apecoin also will pay many incentives through essentially staking rewards. They do some of that and also just selling a lot of these tokens out to pay for their growth.
So you have to understand like, are there yield incentives? Is that going to dilute your holdings? Everything like that and compare. Tokenomics is important. Like I said, was there a pre-mine or was the ICO like for Cardano, was that fair or was it all to the team? Like I said, Dapps will have way more to the team.
L1s shouldn’t really in in an ideal scenario and how much how many tokens are left to actually come out versus how many are already in existence like i said more out in existence is better than fewer because if there are fewer it means dilution is going to play a part for a longer period of time which isn’t great what type of asset is it is it an l1 is it a dap is it an l2 like is it a scaling so like what type of sector is it in and then you can really um segment the different types of token and then compare and contrast in that way what i’ll do now is a
competitive analysis of a specific project versus other projects so when it comes to crypto there are a few uh outliers that we need to take out of the situation. The first outlier is Bitcoin, which is completely different to everything else. And then you have stable coins, which are just currencies like, you know, US dollar currency or pound sterling currency or whatever.
Most other things, it doesn’t matter if you call them a layer one chain or an application or anything else. essentially what they’re doing is creating a platform for other human beings to create value, right? So the only way value is created is if there are users on this platform doing something and paying fees and creating value that way.
So that can be an L1 chain like BNB or Cardano, which is a platform for applications, or it can be an application itself like Uniswap, which is an exchange where obviously you charge fees and then earn revenue that way. It doesn’t really matter to me, to be honest. You can call them currencies, sovereign nations, sovereign blockchains. It doesn’t matter. Humans create value.
And so what I’m going to do is look at where the value is created and how the value can accrue to a token there are many different ways that this can happen on an l1 chain where these act a little bit more like currencies what you’re looking for here is how much yield can you get out of owning that token in terms of staking rewards and people paying fees on that layer one. Down for something like Uniswap, this is simply a crypto exchange.
And so you’re just looking for trading volume and how much fees people are paying. So what I’ll do is a very simple business analysis. I know that crypto, I know that Uniswap is a crypto exchange protocol and that’s it. It’s not a layer one chain. It’s not acting like money, like Bitcoin. So that’s a sector.
And it also plays in my mind, like how big can this get? How big can an exchange get? Well, maybe as a protocol, people can use it for different things and actually, you know, create other protocols on top. But essentially what you’re saying is how much value can accrue to this token? The way that Uniswap accrues value is if people pay fees and then some of those fees are siphoned off and put in a DAO.
And so that DAO has value and the token holders obviously can do whatever they want with the value in there through, you know, fees that are paid, whatever they want to do. No incentives are paid in Uniswap right now. In fact, Uniswap doesn’t actually charge fees everything’s free on the platform and uniswap holders eventually are buying uniswap because they think over time uniswap will charge fees and so that’s why it has value remember the only way that anything has value is if investors think that there is a flow
of cash in the future that can accrue to the token and then be paid back to them. That’s really the only way value is accrued in anything, except, like I said, for Bitcoin, which is totally different. And, you know, it’s a store of value. It’s a reliable and boring business, which is actually quite good.
Then we go to something like Stepan. Stepan is a game, right? And so you have to say this is not a blockchain, this is not like an L1 blockchain that’s charging fees. Stepan itself is a game. And how big can a game get? Can a game earn more money over time than the largest crypto exchange? Possibly or possibly not, that’s up to you to obviously make that decision.
What Stepan does as well though is pays incentives for users to come and play the game. When these incentives run out what’s going to happen to that token? And so Stepan might be a really good game but is the token itself actually valuable if people stop playing the game? So you can look up the Stepan token. There’s also something called GST or green Satoshi tokens that actually are like an in-game currency.
Is that something that’s cool to own if you play the game? Maybe. Is it something that’s going to accrue value through charging gamers fees and then giving those fees back to you? If it doesn’t do that, then it might not have value long term. How does the token generate revenue and value over the long term so this is just the questions that i’m asking then something like polygon this is a layer one scaling technology and they charge fees for all of their technologies in matic so if people want to launch an application on polygon and use their blockchain or use one of their other
networks that they have that are being built on top of Ethereum. They’ll have to pay, eventually, they’ll have to pay fees in Matic. And so that obviously accrues value because they are charging fees for a service, which is their technologies, and that’s a reliable and boring business.
Eventually, after all of the hype is down, you have to say, is this business something that can stick around for like 10, 15 years, charge fees to users, and then pass those fees back to me? Most everything in crypto, you can use that analogy for except for Bitcoin. Once I’ve done that business analysis, what I’ll do is actually look at the fundamentals of every project and see like, if people are actually using this thing, are people using it or at least are users growing and are fees being generated or, you know, is the business actually growing over time? If it is,
then that’s obviously a good thing. Time to dig deep. So what you can do is actually go over to something like the project docs. I would not read the project docs until I’ve done all of that previous kind of research. If I’m more interested in a project, I’ll go and look at the white paper and see, okay, what are you guys really doing right here? A big tip here is don’t believe everything that you read in these things.
These are marketing materials, essentially. And so you have to look at all of this with a critical eye and definitely take a step back and realize that essentially what everyone is doing is trying to make money off people. Now, that’s great. If they can make money off people and you can buy a portion of that as an investor that’s what you want to do but you don’t want to be the product you don’t want to be the one buying a token that’s going to get left holding the bag so firstly i would read all of
the project docs take a step back and really analyze what they’re saying like how are they going to make money how’s that going to compete against all of the other apps doing the same thing make money how’s that gonna compete against all of the other apps doing the same thing and how they’re going to generate revenue for a token that you might buy the second thing is to look on dune analytics i’ve got a great video going over the top 10 platforms that i would use here i’ll leave that in the description really really good and it just goes through the top 10
platforms that you’re going to get great information dune analytics is like fundamental info on blockchain and app usage so for a new network that’s just come up which is Optimism which is a layer two for Ethereum, what I’m going to do here is look at all of the fundamental usage statistics of Optimism as a platform and as a network.
What I can see is that the transactions are generally going up, that’s a good thing. I can see the approximate on-chain value is also increasing. Now, this is great news because, you know, what is a network? Well, it’s transactions, it’s volume, users, the amount of value that it has on there. That’s all good.
And so I want that to be as large as possible, or at least moving upwards. I can see on optimism optimism is a general purpose network with many apps built on top so what i can see here is that perpetual protocol and velodrome these are both exchanges doing really good transactions and volume that’s good it’s also plugged into uniswap and that’s doing good transaction volume as well so everything looks pretty healthy for this network and that’s good news for me and obviously what i want to see over time is that growing i don’t have to buy now but if i see network. And that’s good news for me. And obviously what I wanna see over time is that growing.
I don’t have to buy now, but if I see this continued growth, that’s obviously something that would interest me over time. I’m gonna look at other things as well. But after that, looking at the fundamentals, what you might wanna do here before investing is to really get an idea of like, where are they in the roadmap of actually bringing through products and services that people use.
Go onto the Twitter, follow the official account for sure. Also follow some other accounts that maybe post news and updates about new product launches or what they’re doing or upgrades. So you can see all of that here. For something like Polygon, you’re going to be looking at what applications are launching on the network.
It’s just basically a stream of all the applications that are launching. This is good. You need to be up to date with all of this stuff to know like what stage am I in? And is there gonna be a lot launching over my investment time horizon that’s gonna add value for it? That would be something that I look at. Now what we wanna do is like a competitive analysis of like how much money is the project actually making if any so what i would do is go over to something like token terminal again this is free really good resource and you can just see how much of these um how much these applications or networks
actually making right now ethereum over the last 180 days has made almost 2 billion dollars so great that’s fundamental value that can be passed back to token holders or coin holders especially when it moves over to proof of stake a lot of that value will be returned but we can also look down here to see the avalanche pancake swap you know decentral games maker dow they’re all making decent money right and so if it’s making money at least it has a better chance to actually accrue value to tokens and to investors
you can also look down here at the price to sales ratio and price to earnings ratios i won’t go through those in this video it gets a little bit complex when looking at layer one tokens because layer one tokens like ethereum cardano solana are expected to expected to kind of have a money type of use case within its system.
And so it’s kind of difficult to look at a price to sales ratio. It doesn’t really work because they’re not really equity. What I would say to look at more is, can sustainable yield be gained from an L1 token? I think L1 tokens, as money in their system, will be valued on how much yield that they give and potentially not the price to how many fees are being paid.
It’s kind of a difficult way to value them but layer one tokens are very different to something like Aave which is just a lending application that charges 10% of borrowing amount. That’s very easy, that’s a business and you can very easily value a business based on its profits.
L1 tokens act a little bit like money, a little bit more and so a little bit different to value. You can just see how much are these tokens actually earning. Total revenue, something that earns more money, has a much better chance of returning that to me as an investor than something that makes no money at all. So come and compare and contrast them in terms of how much money they actually make.
Some of the key things that I will always keep in mind then when analyzing a cryptocurrency is inflation versus deflation. Inflation is the creation of new coins or tokens as an incentive for you to enter into the ecosystem. This is good initially to incentivize people to get on board, but it’s not good long-term because it destroys value.
You want deflation where a protocol or a smart contract chain or whatever earns money through charging fees for its block space or its product and then passing those back to token holders through a buyback and a token burn or a dividend known as staking rewards, right? So it doesn’t matter.
It just needs to be profitable and economically sustainable in order to pay some sort of yield back to people that own it. That’s the only thing that will drive value long-term. It needs to return protocol profits to investors. That is what is fundamentally going to support the valuation long term and there are some slight other valuations that can be put in here for example you know can it be used as money within its system that might have a much larger valuation it might be tied up to collateralize other assets gets a bit complex there but for a very simple way of looking at it
you need an economically sustainable ecosystem and the only way investors are going to keep buying the asset is if they expect to return from it except for bitcoin which is a store of value which very different but what asset type and sector is it in you know the layer one chains are a diversified bet on everything built on top. And then you get more specific when you look at exchanges like Uniswap or PancakeSwap.
They may not be able to accrue as much value over the long term because they’re in a more competitive landscape. You know, there are many exchanges, but there are only a few L1 chains that have really, you know, been able to grow grow large ecosystems so you have to look at that and then the business model and sustainability as a long-term investor is really the only thing you need to look at it needs to make healthy profits and pass those back to investors if it doesn’t then it’s just going to spiral down eventually and become worthless if you want a
step-by-step guide on cryptocurrency how analyze, how to compare different ecosystems. If you want to see my portfolio and all of my trades and join a crypto community of thousands of people, check out the crypto course. I’ll link it in the description.
It gets updated for free for existing users over time with brand new videos and my analysis of what’s going on. So check that out if you’re interested. Everything else I discussed in this video down in the description as well. I’m James with MoneyCG. Cheers for watching and I’ll see you in the next one.
How to Research Crypto: Part 1
https://www.youtube.com/watch?v=6ITA3RFoNKE
Transcript:
let’s talk about researching there’s so many red flags coming through that’s obvious to me people keep on asking me can you look into this this this this well now let’s just dive in we’re gonna go through a couple of random projects and then you can see and i can see if there’s any potential in them because most of them in my opinion are of course just there to take away your liquidity so let’s do it let’s work out how actually research. Let’s take a look at this first tactic.
Now, first time I’m hearing of this. So we’re going to go through and check out a few different sources, essentially. One thing is these early projects, they’re putting on the gold tick. This gold tick you can get from Twitter. It’s like $1,500 a month or thereabouts. It was more expensive. Now it’s come down in price.
All of the reputable brands will have things like this as an example you can go have a look at something like phantom you’re going to see it there the dj ape academy you’ll also see it there but it is an expensive service so typically a meme coin or something like that they wouldn’t do anything like that now it’s fairly normal for me to be followed because this means that they get on my radar potentially and maybe i cover them or something the next thing we want to look at is the fact that they’ve joined july 2018 potential join in july 2018 we know this to be completely true
this is a reused recycled account so they’ve bought an account that was old and they’ve bought the followers as well so we can see lofa on soul it’s a frog whatever they’ve bought an account that was old and they’ve bought the followers as well. So we can see Lofa on Sol, it’s a frog, whatever. They’ve got an email address, which is strange.
Anyway, let’s have a look. So first time I’ve ever actually seen this token. So not a lot of engagement. The normal kind of pattern, which is pretty simple. Like just so you’re aware, it’s pretty easy for a group of friends and a dev to go and launch a meme coin and then launch new meme coin and just go like that they could very comfortably build themselves up to a couple million dollars in profit with maybe a hundred thousand dollars in expenditure max and they could do this very very fast so here we have this is the
token i would stay away completely you can go and join the telegram. You’re going to see whatever you’re going to see. And if we have a look at this website, something made it. Okay, so this is exit liquidity. We can’t even see what the actual contract address is. And maybe the contract address isn’t there.
So what we could do to have a look at this first one is we could go to birdeye.so. And let’s have a look. It should be L-O-F-F-A-R. Maybe it’s been released maybe it hasn’t so thus far there’s nothing there so they’re probably just trying to build up some traction you’ll also see that it’s not followed by anyone you’re following so in my opinion this has all of the markings of a project that’s trying to take your soul and go and give you a meme coin that’s not going to do well not financial financial advice, my opinion. If
this ends up becoming the new whiff, then I was clearly wrong. Next up, SolSex. A couple people have mentioned this as well, and I’ve very briefly looked into it, like four or five minutes. Let’s go through it. The first centralized exchange launched on Solana, your trusted digital asset exchange.
So a centralized exchange means that they control your assets ftx was a centralized exchange coin bases binances by bitters ok x’s etc etc etc so there’s nothing wrong with them they just don’t offer you full kind of freedom backpack is also another centralized exchange jupiter aggregates decentralized exchanges things like drift is a dex radium is a dex orca is a dex meteora is a dex these are all decentralized exchanges so this is not a plus point this is a a negative thing they have this i did join it i can’t be bothered showing it to you because there’s nothing worthwhile there are um
a very few number of people that are actually following it uh bonk bot all domains following it followers that’s just nuts dj news there’s not many here the thing is sometimes you just go and follow things to see what they can ship now i mean thus far plenty of red flags uh let’s have a look at when they actually joined joined August 2022 highly likely not not completely impossible but highly likely it was bought huge number of followers strange for me to not have too many in common and also uh they’ve gone with the tick as well let’s have a look at this video because I
I want to watch it let’s have a look at this video because I want to watch it. Let’s have a look. Okay, I don’t really want to watch anything else. Basically, who is this person? No idea who the person is. I kind of feel like he was a paid actor because he’s speaking relatively well.
A couple of other things that are not necessarily red flags, but in my opinion, they just don’t do these things. If you’re going to launch a project, if you want to be taken seriously, don’t have Sol in your name. You don’t need to have Sol in your name. Also, you can come up with your completely own color palette. Doesn’t have to be a rip-off of the Solana color gradient. So, and then Sol Sex Exchange.
Whatever. They have a telegram. They have a website. Let’s have a look at this website here. And let’s just see what it’s like so i’ve turned off the shields normally shields are just on by default and just things were not loading very well so turning it off okay so we see this sol6 is a crypto exchange for everyone find self crypto in minutes a demo there’s a youtube demo here trade on the go anywhere anytime blah blah blah 38 billion dollars in 24-hour trading volume on soul sex exchange 350 cryptocurrencies listed and this is as a target
and 120 million registered this is a target this is a strange thing to put out there build your crypto verify your identity fund your account whatever there’s nothing really here if we go and have a look at the docs there’s no no information about the team. Problems, like there’s no effort here. This is all something you do with, you know, a weekend, essentially.
They have a token already, affiliate. There’s no actual affiliate. A little bit of chat on tokenomics. They’ve gone ahead and locked some tokens. For what? Just doesn’t make sense. It’s just, it’s locked, tokens for what just doesn’t make sense it’s just it’s locked but for what and then they’ve got legal and compliance who on earth is this team there’s just no information here whatsoever okay so we’re back to the website here tokenomics takes us there markets buy now doesn’t go anywhere community twitter and telegram by now it links links to Jupiter. They don’t have a working product. We go and copy
this, go into BirdEye, go and paste this, Solsex. They’ve been pumped. Basically, I don’t want to get in trouble, so I can’t say anything that’s going to get me in trouble. But they have launched very, very recently.
They’ve been pumped up to considerable highs and even right now they’re up like 7 000 percent fully diluted market valuation 23 million what does the token do they don’t have a live product they just have something that was made with a screen recording and i don’t even know i don’t i just don’t know so okay we come back here to the website this all looks completely illegitimate to me and then let’s go and have a look at their actual posts. So Maneke, this is a meme coin. They airdropped it to Saga holders.
It was worth a couple of hundred dollars. Thank you. No idea about the project. They have a tick. They seem to be doing well. All good. Thanks for listing. They’re not listing, like listing soon. They have no platform to actually go and list. It’s impossible. And then we just have, I have no idea who this person is.
They have more followers than me. And some people are just really knowledgeable with crypto. They know that they can go and shield something that has no actual value at all. And that’s fine. However, when there’s a utility token or an actual dat that has a token that’s different to if it’s a meme coin if this was advertised as it’s a meme coin we have actual no product it’s just some community coin fine but this is built on speculation and it’s with an understanding that people have no idea what they’re getting into i’m not going to have a look at what
these are i have no idea what they are okay let’s have a quick look at this make All right, I’ve heard enough to basically whoever this person is, I mean, they’re just selling it, right? Let’s just be honest. If you want to go and buy this token because you think influencers will pump it and you’re going to buy it with the full anticipation that you’re going to take profits, I understand.
I’m not going to do it myself, but I understand. However, I’m just pointing out, you’re asking me to research it because you’re unsure how to research it yourself, which is fine. We’re covering that. But this is just, the goal is to pump it up and to sell it to you. There’s a particular term in crypto.
I don’t want to use it, but that’s what I see as the goal. Let’s have a look and see if there’s other similar things. We’re happy to announce, I don’t know, 200 so add to liquidity no idea what this one is 1.1 million followers bsc news so this is binance smart chain news and let’s just i mean look at this if we go here they’ve got 1.
1 million followers six hours ago 84 likes nine hours ago 14 likes 102 likes how bad is your engagement that you go and put something out hours ago with 1.1 million followers and you just don’t get anything this clearly has bothered users anyway moving on go down a few things they’re going ahead and you know shilling their thing they’ve obviously gone and grabbed a whole lot of tokens giving them to some influencers which i by the way i get emails all the time we want to launch this can we give you some tokens can you include it in a video hell no
not another chance don’t even email me okay we’ve got something else mercedes no idea who this person is a million followers crypto queen promoter at least she’s transparent about that let’s go and watch this i have no understanding why she wouldn’t edit this video or why she wouldn’t go and take off all the fingerprints or anything she clearly has some skill and understanding uh and she gets plenty of engagement but completely obvious that she’s a shill right it’s obvious what’d you say what’s her caption at the top here i need money not feelings okay
fine anyway we could go through go through what’s this binance soul sex a press release let’s just have a look and see if this is sponsored content solve sex revolutionizing crypto trading on solana blockchain please please please there’s got to be something that says includes third party okay this content aims in rich readers always conduct independent research and use discretionary funds before investing can anyone like post something on this or something relevant creator so this person was paid they can put it on binance square
which i’ve never heard of but i think anyone could go and make content here and then they they go and steal it to people that are not uh aware of what to do okay so i think this is clear it’s obvious to me it was obvious to me within like maybe 90 seconds that is rubbish but i want you to look out for these red flags we’ve covered some of them here let’s move on to the next one now this is a list of tokens and protocols that I just have been linked to in comments I’m looking at these now for the first time and not all of
them will be you know full of red flags some of them may not have product market fit or sometimes maybe they do have product market fit but there’s already a massive player in town in which case you know maybe they should work on another area in crypto which is you know it’s a big area but it’s also very very niche so wolf swap swap and earn game fight aggregator decks 9 000 followers been building maybe since 2023 already the fact that this has a blue tick, which is normal, this seems far more reasonable. And let’s have a look here. I have the strange things,
and I don’t think it’s necessarily strange, but I mean, I’ve just said it’s strange. When the dollar sign is after the numbers, that’s unusual because one thing that’s really important is, you know, there’s a lot of the world that follows the American standard with the exclusion of like you know the Imperial system of Fahrenheit and pounds and all that sort of stuff generally speaking the world markets start from the US and then they flow to other countries the US dollar is still deemed the world reserve currency and there’s plenty of other examples
you know media whatever goes on in terms of media. That’s where most countries get the sources from. Even if you don’t agree with it, that’s just the way it is. So one thing that you’d probably best off doing is keeping in mind the actual standard, because you’re trying to attract crypto Twitter, which is millions and millions of Americans.
Anyway, that’s a small thing. Now what exactly is this? Most likely it’s something in Europe, which is fine. But let’s have a look. It seems as though there’s some sort of DEX like, you know, potentially like Jupiter or something, and they actually get rewards back. Okay, so they’re on Polygon, Kronos and Blast.
They’re not even on Solana. I have no idea why someone’s mentioned it then, but fine. If they’re on these other blockchains, all good because there isn’t actually a huge amount of competition over there. Blast, very little. Polygon, quite a bit. And Kronos, which is like the blockchain by crypto.com, a decent amount.
Okay, so at this point, the fact that it’s already been mentioned to me, I mean, you can go and research it yourself, but you need to look into it quite a bit further because it’s something that i’m not super familiar with if it’s on multiple different blockchains so what we’d basically do is we’d go to the website you can go and join the discord and the telegram and go and have a look and see if there’s a competent team behind them we can see if there’s an audit done there’s no results for an audit so unlikely and then gamified aggregator decks how many people really want
to get involved with this is this what they’re after to work on getting some brand new token that’s on multiple blockchains i don’t know for me it’s a pass because it’s not on the solana blockchain and if it’s on another blockchain i feel it has to have major product market fit and probably you only want your token on one blockchain like try and dominate one blockchain first before you jump onto other ones as well plus i don’t actually know like it says powered by moon let’s have a quick look let’s uh go back to this website
we’ll go to coin gecko and let’s see if we can find moon let’s just we just i just saw that maneki was uh trending going down they were i don’t know how they’re going down they were recently uh listed on soul sex uh okay so now we need to see if we can find moon can’t find it easily i’m just gonna skip it now let’s have a look at this spider swap so a solana swap aggregator for everyone joined september 2008 unlikely it’s a recycled account a minor red flag they have a blue tick which is fine if they had a gold tick so early on that would be a bit
really now they’re going to solana crossroads which is like breakpoint but it’s community led not foundation led so although they’ve got smaller engagement they are they’re trying to ship something so they’re there they’re a real life team they may or may not be docs but you can go and meet the actual devs there now let’s have a look at the actual website and if this is a swap aggregator it might be a little bit difficult terms and condition not a big deal missing an s it’s t’s and c’s so it’s probably going to be a couple of other mistakes here however they’re from switzerland apparently and i cannot speak any other language well so fine okay uh transactions
created not really sure how to read this i can i can see that this certainly has a bit of value though because you could work out maybe this is what you want to use if you want to see what meme coins have just been created and you can work out if it’s safe you can see how many ticks are there if it’s safe and what do we have here the liquidity tvl price transactions created so maybe if you’re looking to try and get into meme coins straight away this could be quite valuable this could definitely have some sort of product market fit this is their token we’ll have
a look at that in a second we’re just doing this all live for the first time ever and it seems as though as you do more and more swaps maybe you get more and more spider tokens and they’re staking stake here earn more and what do we have down here different tears back rewards link to dock guide me click on the stake button ui could do with a little bit of a refresh or an improvement but that’s fine bridge powered by d bridge okay i’m not going to connect my wallet here link to dock links to dock link link to docs probably and the light paper looks like
it’s very very small what my issue here is essentially creating a token so early so if we go and find out what is this token spider swap link tree we should be able to see the contract address here they’ve got quite a decent link tree setup that’s quite organized so at this point i can see it has a very narrow product market fit for people that really want to degen and maybe find new tokens really really fast but I don’t know how fast it actually updates okay so this is spider here and if we zoom out let’s work
out when they first kind of launched what they launched at and how it’s doing so they came to being in December and what kind of skipped the first day and since then while they’re up considerably the fully diluted market cap is 22 million not entirely sure why we’d have to look at tokenomics which we can have a look at it went up crazy high and then of course if you bought anywhere near this kind of top point then your one thousand dollars has turned into three hundred dollars if you did something like that so in terms
of actually the token it’s not clear on why you would actually buy this token it’s not clear to me sentiment looks fine ish and if we go and grab this contract address we could go to something like rug check paste it in check it and we’re gonna get a score okay so risk analysis danger top 10 holders high ownership single holder 50 high ownership this could be a staking contract and I mean the top holders 90 so this is not a very liquid token and also the amount of liquidity is quite low so based on all that information I wouldn’t touch any of these you may be interested you’ve seen how
I’ve done it now you can go and do it yourself I know there’s a lot more to that than researching so that’s just kind of like the first video a bit of an intro video and maybe we can do one of these videos every week then we’ll create a playlist and then you can watch them all together in the future but for now please if you find a good token that’s gone through those initial checks of course put it below in the comments with a little bit of a thesis if not then we’re just going to link you straight back to this video thanks for watching catch in the next video
