Meme coins didn't quite dominate the bull market in 2021, but now they are in full swing. This shows that the crypto market is becoming more and more involuted in how to attract and maintain the interest of users. For example, concepts such as NFTs and GameFi/SocialFi, although more attractive than meme coins in the early days of their emergence, can eventually become popular narratives thanks more to the ability of related projects to address specific market needs and carry out "off-market acquisition". Projects such as Axie Infinity and StepN have managed to attract a large number of non-traditional crypto users to the market through unique money-making mechanisms and novel user interactions. However, the popularity of Meme coins in this bull market is more "direct".
This shift in market dynamics is also impacting the world of signal trading and on-chain data analysis. Signal trading and on-chain data analysis are quite important tools for crypto investors, providing insights into market dynamics and investor behavior one step ahead. By leveraging these technologies, investors can gain a competitive advantage and make more informed decisions based on real-time data and actionable signals. Not only do they enhance investors' ability to spot trends and manage risk, but they also facilitate the mining of hidden opportunities in the fast-paced cryptocurrency market as a whole.
In this Bing Ventures article, we will introduce a variety of analytical tools, including information platforms for the primary market, sentiment analysis and trading opportunities tools for the secondary market, and summarize their evolving trends. Overall, we believe that the direction of innovation at the tool level must be closely aligned with user interfaces and market access strategies. In the long run, new protocols that can create real user value and promote widespread adoption through unique social dynamics and financial incentives are likely to dominate the market. For example, integrating AI elements and new user interaction models could be a key direction for future innovation, which can not only enhance the user experience, but also attract new market players by creating unprecedented value.
Primary market instruments
RootData
Financing
Rootdata collects information on all market financing activities and guarantees instant updates of the information. Users can also choose to observe the financing performance of specific sectors according to different sectors.
After entering the project interface, users can view the financing performance of the project in detail, including which venture capital institutions have invested.
The interface has a variety of filters, and users can choose projects with different progress, financing size, region, etc. according to their own criteria.
Signal trading
Users can judge or predict where the focus of the market may be focused in the future by looking at the investment intentions and trends of venture capital institutions in the current market.
Users can also learn more about the investment status of each VC, including their investment distribution and past investment projects.
Institutional wallet transfers
Rootdata also records the wallet transaction records of various units (including: venture capital, exchanges, market makers, etc.), through which users can understand the flow of funds of institutions.
Signal trading
There is often a specific meaning or message behind the outgoing/incoming behavior of an institution. Taking DWF Lab as an example, it is both a venture capital and a market maker, and the projects it works with are often violently pulled. If a project is observed to deposit coins to DWF Lab's address, it is likely to be a strategic investment made by DWF Lab, and if DWF Lab's address deposits to the exchange, it is likely to be a sign of reducing positions after pulling the market. By analyzing these fund flows, it is possible to reveal the market strategy and intent behind them.
ICODrops
ICO situation
ICODrops basically covers the future, present, and present project ICO situations.
Click through to the project page to view the status of the token sale, including the time of the sale, some basic tokenomics information, and the share allocated by the presale, etc.
Signal trading
Basically, ICO Drops allows users to view projects in various first-tier markets and gives them the opportunity to participate in whitelisted sweepstakes to get access to the same first-tier market opportunities as VCs.
PinkSale
PinkSale is a protocol that links projects and users and aims to provide users with the ability to launch their own tokens and create their own initial token pre-sales, helping projects complete their early stages of IDO. The project team does not need any knowledge of code, just operate in the page of Pinksale, and design their own token and token launch with a few clicks.
PinkSale will include several additional features to help the project complete the entire token launch. These features include: helping tokens list on PinkSwap and PancakeSwap, locking LPs, and adding a vesting period to your tokens to increase investor trust.
Secondary market instruments
Santiment
The information on Santiment revolves around where the hotspots for cryptocurrencies are on the web. The aim of the project is to eliminate information inequality in the Web3 community.
Web3 web keywords
Santiment is able to integrate the most searched keywords on the web through AI technology to accurately reflect the hot topics of public concern.
An alpha narrative that narrates the current market in the form of a heat map.
Signal trading
The platform mainly provides a macro concept that allows users to understand the current market hotspots and elaborate on where the current investment narrative lies.
IntoTheBlock
IntoTheBlock mainly aggregates information from various DeFi, including the data of the project and the trading of tokens.
Project data
The platform integrates the data performance of various current market focus sectors, so that users can get the most up-to-date project information.
The information also includes the current level of gas fees on the network, the performance of trading pairs of various DeFi projects, and more.
Signal trading
The advantage of IntoTheBlock is that the information is comprehensive enough, and the project data of all sectors can be seen at a glance, and users can make corresponding strategic deployment based on the project information.
Arkham
Arkham is an on-chain data tracking platform that focuses on the presentation of on-chain data, specializing in systematically analyzing and deanonymizing blockchain transactions.
Visualizer
Arkham Visualizer allows users to visually track the flow of funds across chains. Through this function, users can use the filtering function to filter out the required flow of funds based on conditions such as blockchain, time, currency, amount size, etc., so as to clearly identify the inflow and outflow of funds.
Listed above is the flow of funds in the DWF Lab wallet, which can clearly see the interaction between the wallet and other addresses, and understand the use of funds by the institution.
Signal trading
In line with RootData's philosophy, Arkham further visualizes a record of wallet interactions, enabling users to develop trading strategies based on the transfer-out/transfer-in records of the Smart Money wallet.
Dashboard
Arkham also offers a Dashboard feature that allows users to monitor all on-chain transactions for individual addresses. This information includes the performance of their holdings, recent transactions, and even their use of DeFi.
Signal trading
Similarly, users can observe the strategy of deciding transactions within the large transfer history of the Smart Money wallet.
Eigenphi
EigenPhi is a research platform that focuses on MEV (Miner Extractable Value) data in DeFi. It features the ability to identify and track on-chain MEV capture behaviors, such as arbitrage, sandwich attacks, liquidation, and more. While showcasing the MEV market, EigenPhi also provides detailed information on each MEV transaction.
MEV performance
The platform provides information on the actual trading volume and actual profit (gross profit after deducting gas fees) for various MEV activities, including their share and growth. This gives the user a very clear and comprehensive overview of the current MEV market. Users can clearly see the type of MEV involved in the transaction, the contract address that initiated the MEV transaction, the actual income and overhead and other data in real time.
Signal trading
The platform provides researchers with data from MEV research, as well as ideas and references for MEV traders to know which project or blockchain to trade MEV on is the most profitable.
MetaDock
MetaDock aggregates various EVM blockchain explorers, omitting the step of finding a blockchain explorer, and can be queried directly in the plugin.
Users can click on Fund Flow in the tab bar to visually see the linked accounts of the query account and the fund flow chart. Through the filter in the upper right corner, you can choose to display the specified transfer address/entity or currency.
Signal trading
The app is also a major source of trading information for users to track the flow of funds.
Ave.ai
Ave.ai is a one-stop Web3 interactive terminal, aggregating on-chain protocols such as Dex, DeFi, Token and NFT, and is committed to providing a Web3 interactive platform with safer funds, more professional data, and more convenient experience.
Search for items: Once you're logged into your account, use the search bar at the top of the page to search for the crypto item you want to analyze.
View project overview: The project overview page provides an overview of the project, including key metrics such as market capitalization, trading volume, and price performance. This page also includes charts showing the price movement of the project.
The interface also shows the audit of smart contracts to ensure security, as well as the proportion and address of the top holders, making it easier for users to trace the flow of smart money and understand if the tokens are too centralized or decentralized.
Birdeye
Birdeye is basically an extended version of CoinMarketCap that covers information on various meme coins. Users can view the item's price, volume, candlesticks, and much more on it.
Find Gems: This feature mainly helps traders find and screen some potential tokens. The user interface offers various filters such as "Most Traded", "Most Viewed", and many more. At the same time, you can also choose the "most profitable", so that traders can find the right trading token for them.
Find Trades: This interface also records all transactions on the chain. One of the most useful features is the ability to select the amount of transactions represented by "Shrimp", "Dolphin" and "Whale". Tracking the flow of money in a "whale" wallet is one way to track the wisdom of the market.
Birdeye Bot: Provides instant access to price, volume, liquidity, and number of holders information to meet crypto traders' needs for instant data. The new Paired Bot feature also notifies users of newly listed trading pairs on Birdeye-supported exchanges, providing traders with early information that gives them a competitive advantage in identifying potential investment opportunities.
Dextool
Dextool is basically an aggregator of trading platforms and the main trading information platform for meme coins.
Pair a browser
Users search for any token and its available pairs on any of the supported DEXs. For example, when searching for matching tokens on Solana, DEXTools will display a list of Solana pools. Users can click on any pool to display a detailed chart and analysis page for that particular pool. This includes drilling into the pool transaction history, viewing reliability scores given by other DEXTools users, and seeing where users themselves are and interact with the pool.
Newly listed tokens
The interface displays newly created tokens on social media, allowing traders to receive trading information as soon as possible.
Multichart
Multichart allows you to set up up to ten charts for token pairs on any given blockchain and trading venue. Use filters to search for the assets of your choice to narrow down through blockchain and trading venues. DEXTools charts allow you to change time parameters and chart types, and provide a range of tools and indicators to support technical analysis.
list
The interface displays the most profitable or popular token pairs for traders' reference.
GeckoTerminal
GeckoTerminal is a DeFi and DEX aggregator. The market data and prices covering more than 900 DEXs and any token traded on more than 110 blockchains are also created by the same team behind CoinGecko.
Extensive coverage
A significant advantage of GeckoTerminal is that it supports a wider range of blockchains and DEXs, as well as providing more comprehensive and in-depth information for some niche projects than other platforms. The rest of the features are about the same as Birdeye, Dextool, etc.
Ave.ai、Birdeye、Dextool、GeckoTerminal的信号交易
These three tools are very similar in nature, and they are also key tools in the recent meme coin boom, providing the quickest solution for trading these speed-focused meme coins.
GMGN.ai
Gmgn.ai is a platform dedicated to tracking the transaction history of smart money and Degen KOLs, and clearly shows the transaction history of smart money that is profitable.
Profitable smart money wallet
The platform automatically tracks the most profitable smart money wallets and displays information such as their holdings history, token trading history, and more, with the aim of enabling other traders to make imitation trades.
Real-time transaction history
Record the trading performance of Smart Wallet in real time, so that other traders can receive the first information.
Depée Bot
Connect to Telegram Bot with notification function to know the trading status of the latest tokens.
Sniper Bot Products
An automated program set up by Sniper Bot to perform a specific task at a predetermined time. These products are often used to participate in online buying, selling, and trading, with the aim of accurately capturing the market. The main products and related performance of this sector can be found in this panel on Dune Analytics.
Unibot
Users can easily issue on-chain token trading instructions through conversational interaction with Unibot to complete various trading activities on Uniswap. This includes features such as token swaps, copy trading, limit orders, and private trading. In addition, Unibot also provides a real-time Ethereum new token alert service, enabling users to conveniently add new tokens and make quick sniper transactions.
At present, there are two main ways for Unibot to earn income, namely the bot's transaction fee and the transaction tax of the native token UNIBOT.
In the former, Unibot charges a 1% fee for each transaction, of which 40% is distributed to token holders, while the latter means that all UNIBOT token transactions are subject to a 5% tax, 1% of the trading volume is distributed to token holders, and the token holding balance needs to be greater than 50 UNIBOT to be eligible for revenue sharing rewards.
Unibot on Solana
Unibot has recently launched a similar Telegram bot on the Solana platform. Taking advantage of its advantages as an established project, the project has the following prominent features:
Built-in ETH and SOL bridge: Basically merging the original Unibot on Ethereum with Solana to become the first bot project to support dual chains at the same time.
Partnering with Birdeye, a transaction data aggregator platform: Being able to seamlessly support all project transactions displayed on Birdeye is the ultimate feature to enhance the user experience and an important turning point for UniBot's future success in the Solana market.
Unibot on Base
In view of the significant reduction in transaction fees after the upgrade of the Base public chain in Cancun, it has become another public chain platform after Solana. As a veteran Sniper Bot, Unibot has also seen an increase in trading volume on the Base platform.
Protocol Performance
It can be seen that Base has replaced Ethereum as the preferred public chain for trading meme coins. Its trading volume peaked at $3.88 million on March 30, accounting for more than 60% of the project's revenue.
Banana Gun
Banana Gun offers two main services: trading and sniping. Through the trading function, users can securely purchase tokens that have been listed on the blockchain. The Sniper feature allows users to be the first to buy new tokens when they are released. Banana Gun also supports Ethereum, Solana, Blast, and Base. Here are some of the more functional explanations of the work:
First Bundle or Fail (FoF): Targets the first purchase (block 0) at the start of the transaction, which requires at least 10 wallets to be valid. Not available for MEV or Deadblock releases.
FoF Backup: If the FoF feature is not triggered when MEV or Deadblock is released, the backup feature will be purchased in the next available block and the backup miner tip will be used.
Slippage: Allows price to fluctuate in the range of 0–99% in an issue without a maximum trading limit. Setting it to 100 is equivalent to "unlimited" slippage.
Degen Mode: Once this feature is enabled, users can purchase transactions as "honeypots" to stop zombie users. If this setting is enabled, the bot will ignore the security tax setting and can be purchased even if the token cannot be sold.
MaxTx or Revert: Limit the purchase to the maximum payout. If the maximum transaction volume of the token exceeds this amount, the transaction will be reverted.
MinToken: Set the minimum number or percentage of tokens for purchase. If the maximum payout does not meet this minimum, the transaction will fail.
Anti-Rug: Attempt to sell tokens before potential scams when taxes exceed security settings or when there are signs of fraud.
Transfer on Blacklist: If a user's wallet is blacklisted, this feature transfers tokens to a predetermined "transfer wallet".
预先批准 (Pre-Approve)：在抢先购买后自动批准代币，以便更快出售。
Snipe Settings: Allows you to adjust the settings for the current snap without affecting other pending or future buys.
Bot Trading Fee: There are fees for trading using the bot service provided by Banana Gun: (1) a 0.5% fee for manual purchase transactions and (2) a 1% fee for automated sniper transactions. From all bot trading fees collected, 50% is distributed to token holders. This also provides holders with a passive income stream that incentivizes the use of bots to trade.
Extra Cashback: Users who trade through the bot are entitled to additional cashback. The cashback amount is calculated using the following formula: fees paid * multiplier, where the multiplier ranges from 0.05 to 1. This means that the cashback amount can be up to 100% of the fees paid, depending on a random multiplier value.
Protocol Performance
Similarly, Base Chain surpassed Solana and Ethereum in terms of trading volume, peaking at $35 million on March 29.
BonkBot
BONKbot is a Telegram trading bot based on the Solana network that allows users to trade in the easiest and fastest way. The token adopted by the project is $BONK, which was originally released as a free airdrop to the Solana community on Christmas 2022. Since then, $BONK adoption has grown exponentially, with uses spanning DeFi, gaming, payments, and more. As an official partner of the $BONK community, BONKbot provides users with a range of features:
Minimum Position Value: In the user's portfolio, the minimum position value displayed can be set. Tokens below this threshold will be hidden. This feature is especially useful when you don't want to sell certain tokens, even in the event of a failed investment (colloquially known as a "quilt trap"). Click to edit.
Auto-buy: When a user pastes the token address, the system will immediately execute the buy-in operation, eliminating the need for confirmation.
Button configuration: Users can customize the buy and sell buttons on the dashboard. When buying or selling tokens, simply click on each button to edit it.
Slippage configuration: You can customize the slippage settings for buying and selling. Slippage is the difference between the price of a trade and the price at which it is executed, and the right allocation can help you better control your transaction costs. Click to edit.
MEV Protection: BONKbot has partnered with Jito Labs to provide users with advanced MEV protection that accelerates transactions by default and protects against front-end trade attacks. MEV protection provides two modes for users to choose from:
- Turbo mode: In this mode, transactions are sent through Jito to ensure front-end transaction protection at maximum speed. If the normal transfer speed is faster, then the transaction will not initiate MEV protection.
- Secure mode: This mode guarantees transaction protection in any situation, even if it means that the transaction speed may be slowed down. Users can speed up transactions by increasing the amount of bribes.
When enabling MEV protection, users can choose the above modes and decide on the priority of the transaction: medium, high, or very high. For advanced users who need more granular control, BONKBot also offers the option to customize transaction priorities.
SolTrading Bot
SolTradingBot is another replica similar to BONKBot. It's also basically the same as Telegram Bot, but it has some special features, such as:
DEX Integration:
Integrations with major DEXs: SolTradingBot has integrated with Jupiter, Orca, and Raydium, three of Solana's leading decentralized exchanges.
Enhanced liquidity access: Users can access the extensive liquidity pools of these DEXs, enabling efficient execution of trades at the best prices.
Diversified Token Opportunities: Offering a wide range of trading options from established cryptocurrencies to emerging projects.
Multi-DEX Strategy: Enables users to take advantage of the unique strengths of each DEX platform and optimize their trading.
BTCBot.pro
Solona and ETH use an account model, and BTC uses a UTXO model, and this difference in the underlying data structure leads to huge differences in their related assets and ecosystems. In this section, we focus on the functional innovations of BTCBot.pro and the impact they may have on users and the industry.
BTCBot.pro is the Telegram Sniper Bot product of the BTC ecosystem, which was launched on December 23, 2023, and currently focuses on inscribed and trading BRC-20 tokens, and has launched some practical features to solve the current problems that the BTC space is facing.
Due to the great difference between the BTC ecology and the ETH EVM and Solana ecosystems, and the overall design logic is also very different, the BRC20 field is currently divided into the primary market and the secondary market, the primary market is different from the primary market in the usual sense, the primary market of the BTC ecology refers to the issuance of BRC20 tokens, and the secondary market refers to the transaction of BRC20.
BRC20 sell order function
For example, if you want to sell 2000 $abcd (a BRC20 token), you need to convert 2000 $abcd into an inscription, then set a price for this inscription, and hang it to the trading platform to wait for the order to be eaten. There is no fee to place a limit sell order, and the user only has to pay the gas fee of mint.
On the BTCBot.pro, when users use the "Sell Limit" function, they can place orders on Unisat, OKX and other platforms at the same time without increasing any costs, with the same inscription and two pending orders, which will increase the probability of sell orders being filled.
BRC20 Buy Limit Order
This is the first time in the BRC20 space that a limit buy order function has been proposed. Its buy order function has the following four characteristics:
Zero cost
After setting the price and purchase volume, users can modify or cancel the limit buy order at any time without any gas fee, and the same as the sell order function, the buy order function is also applicable to Unisat, OKX and other trading markets, and the Unisat buy order function has been put on the shelves.
Slippage control
When the price of a token falls back to the buy order range set by the user, the transaction will be triggered. However, the BTC Gas Fee at the time of order execution will affect the overall price of the token. For example, if the number of tokens in a single order is 100 and each price is $1, but the transaction currently requires a gas fee of $9, BTCBot.pro will automatically calculate the comprehensive cost as: (100+9) ÷100=1.09USD, at this time, the transaction slippage is 9%. If the user's slippage is set to 10%, then the sell order will be triggered by automatic filling, and if the user is set to 5%, the transaction will not be triggered, which can avoid the increase in the overall cost of token purchase. The greater the number of tokens in a single order, the smaller the transaction slippage.
The "slippage setting" mentioned here is unique to the BTC ecosystem, which is different from the slippage that users use the AMM mechanism on Uniswap. Because under the AMM mechanism, it is the size of the Liquidity Pool that affects the slippage, and the current BRC20 field affects the slippage is the BTC transaction gas fee. Through slippage settings, users can filter out the orders they really need, and can effectively control the comprehensive cost.
Handicap management
Most of the current trading platforms of BRC20 cannot use the limit buy order function, so institutional participants such as market makers or project parties cannot manage the market well, but can only manage it with market orders. This has a significant impact on the activity and depth of trading. The limit buy order function can solve this problem, and the project party or market maker can manage the order in BTCBot.
Automatic matching
In the BTCBot.pro, you can see how many amount and quantity limit buy orders there are at the moment. Coin holders (sellers) can observe the thickness of the order and choose at what price to sell, while buyers can get lower cost chips by bidding (similar to Bid). In BTCBot.pro, buyers and sellers can automatically match transactions.
The Evolution of Cryptocurrency Trading Tools: Technological Innovation and User Experience Optimization Driven by Market Demand
In terms of product features and trends in signal trading and on-chain data analysis, we note the following key points:
- Increased demand for immediate and in-depth information: As market dynamics change, investors' demand for immediate and comprehensive market information has increased significantly. For example, RootData and ICODrops provide real-time updates on fundraising and ICOs to help investors stay up-to-date on the primary market.
- Diverse analytical tools: There are a variety of analytical tools available in the market, ranging from financing information in the primary market to sentiment analysis and trading opportunities in the secondary market. For example, Arkham provides visual tracking of on-chain data, while Santiment uses AI technology to integrate search keywords on the web to reflect market hotspots.
- User-friendly interface and ease of operation: Product designs tend to operate without deep technical background, such as PinkSale's token launch platform, where users can design and launch their own tokens with just a few clicks. This design trend makes these tools easily accessible and leveraged by a wider range of users.
- Integration and interoperability: Many tools are moving towards broader integration and platform interoperability. For example, MetaDock aggregates multiple blockchain explorers to simplify the query process for users, while Unibot's cross-chain bridge feature supports interoperability between Ethereum and Solana.
- Insights into trading strategies and opportunities: Tools provide not only data, but also insights that can guide investment decisions. For example, by analyzing the flow of funds from institutional wallets, RootData and Arkham help users gain insight into market strategies and trading opportunities.
- Increased security and transparency: As investors demand more security and transparency, more and more platforms are emphasizing these features. For example, Ave.ai show the audit of smart contracts in the project overview to ensure security.
- Automated and robotized features: Market trends show that automated and robotized trading features are becoming increasingly popular. These features not only improve trading efficiency, but also react quickly to market changes, such as the sniping and trading features offered by Sniper Bot and Banana Gun.
Taken together, these product features show that there is a growing demand for efficient, real-time, user-friendly, and highly integrated trading and analytical tools. In addition, we have summarized several deep-seated trends in the cryptocurrency space. We can analyze in depth from the following aspects:
Accelerated market information flow and transparency needs: The dynamics and complexity of the market require investors to be able to receive and process information quickly. The popularity of real-time updates reflects the extremely high demand from market participants for speed and timeliness. For example, the real-time data update capabilities of tools such as RootData and ICODrops mean that the demand for transparency and timely information continues to grow.
Behind this demand is the pursuit of market participants to avoid information asymmetry and improve the efficiency of trading decisions. The volatile and high volatility of the crypto market makes timely access to information crucial.
- Decentralization and integration go hand in hand:
With the development of multi-chain and cross-chain technologies, the market demand for integrated tools has increased, and users expect to manage multi-chain assets and transactions through a single platform. For example, the cross-chain operation capabilities provided by Unibot and MetaDock reflect the high demand for ease of operation and resource integration.
This trend shows that while decentralization is a core feature of blockchain, user experience and functional integration remain key factors driving technology adoption.
- Ease of use and operation:
The diversification of investors and user groups is driving the need for a simplified user interface. Platforms like PinkSale, which allow users who don't need deep technical background to participate in token creation and pre-sales, show that the market is moving towards greater accessibility and democratization.
Behind this change is the popularization of technology and the increase in education, which has made it possible for non-technical users to participate in the previously complex cryptoeconomic activities.
- Building Security & Trust:
With the expansion of the crypto market, security issues have become increasingly prominent. More platforms are starting to emphasize security audits and transparency of smart contracts, such as Ave.ai security displays. This shows that the market is moving towards a higher level of trust and security.
This trend was driven by multiple security incidents and loss of funds in the previous market, prompting industry players and users to pay more attention to security measures.
- Wide range of applications for intelligence and automation:
The popularity of automated tools such as Sniper Bot and robotized trading features shows the need for high efficiency and responsiveness. The ability of automated tools to respond quickly in a rapidly changing market is critical to capitalizing on market opportunities.
Behind this trend is the advancement of technology, especially the application of artificial intelligence and machine learning in trading strategies, which has increased the success rate and efficiency of trading.
In summary, these changes in the underlying trends reflect the maturation of the cryptocurrency market, while also pointing to the dynamic balance between technological development, market demand, and user experience.