Written by Bing Ventures
Meme coins did not completely dominate the bull market in 2021, but now they are popular. This reflects that the crypto market is becoming more and more inward-looking on how to attract and maintain user interest. For example, concepts such as NFT and GameFi/SocialFi, although more attractive than Meme coins in the early days, eventually became popular narratives due more to the ability of related projects to solve specific market needs and conduct "off-site new acquisitions". Projects such as Axie Infinity and StepN have successfully attracted 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 round of bull market is more "direct".
This shift in market dynamics is also impacting the field of signal trading and on-chain data analysis. Signal trading and on-chain data analysis are extremely important tools for cryptocurrency investors, providing a step ahead of others in terms of market dynamics and investor behavior. By leveraging these technologies, investors can gain a competitive advantage and make smarter decisions based on real-time data and actionable signals. They not only enhance investors' ability to spot trends and manage risks, but also promote the discovery of hidden opportunities in the fast-paced cryptocurrency market as a whole.
This Bing Ventures article will introduce a variety of analytical tools, covering information platforms in the primary market, sentiment analysis and trading opportunity tools in the secondary market, and summarize the development and evolution trends they reflect. Overall, we believe that the direction of innovation at the tool level must be closely integrated 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 incentive mechanisms are likely to dominate the market. For example, integrating artificial intelligence elements and new user interaction modes may be key directions for future innovation, which can not only enhance the user experience, but also attract new market participants by creating unprecedented value.
Primary Market Instruments
RootData
Financing
Rootdata collects information on all market financing activities and ensures that the information is updated in real time. Users can also choose to observe the financing performance of a specific sector based on different sectors.
After entering the project interface, users can view the project's financing performance in detail, including which venture capital institutions have invested.
The interface has various filtering conditions, and users can choose projects of different progress, financing size, region, etc. according to their own standards.
Signal Trading
Users can judge or predict where the future market focus may be by looking at the investment intentions and trends of venture capital institutions in the current market.
Users can also learn more about the investment situation of each venture capital firm, including their investment distribution and the projects they have invested in in the past.
Institutional wallet transfers
Rootdata also records the wallet transaction records of various units (including venture capital, exchanges, market makers, etc.), and users can use this information to understand the flow of funds of institutions.
Signal Trading
There is usually a specific meaning or information hidden behind the fund transfer/inflow behavior of an institution. Take DWF Lab as an example. It is both a venture capital and a market maker, and the projects it cooperates with often experience violent market manipulation. If a project is observed to charge coins to the address of DWF Lab, this is likely to be a strategic investment made by DWF Lab; and if the DWF Lab address charges coins to the exchange, it is likely a sign of reducing positions after the market manipulation. By analyzing these fund flows, the market strategies and intentions behind them can be revealed.
ICODrops
ICO Status
ICODrops basically covers the future, present and current project ICO situations.
Click to enter the project page to view the status of the token sale, including the time of the sale, some basic token economics information, and the share of the pre-sale allocation, etc.
Signal Trading
Basically, ICO Drops allows users to view various tier-one projects and gives them the opportunity to participate in a whitelist draw to get the same tier-one opportunities as VCs.
PinkSale
PinkSale is a protocol that links projects and users, aiming to provide users with the ability to launch their own tokens and create their own initial token pre-sales, helping projects complete early-stage IDOs. Projects do not need any coding knowledge, they only need to operate on the Pinksale page and design their own tokens and token launches with a few clicks.
PinkSale will include several additional features to help projects complete the entire token launch process. These features include: helping tokens get listed on PinkSwap and PancakeSwap, locking up LPs, and adding a vesting period to your tokens to increase investor trust.
Secondary Market Instruments
Santiment
The information on Santiment mainly revolves around where the hot spots for cryptocurrencies are on the Internet. The purpose of the project is to eliminate information inequality in the Web3 circle.
Web3 Network Keywords
Santiment can use AI technology to integrate the most searched keywords on the Internet and accurately reflect the hot topics of public concern.
The Alpha narrative of the current market is narrated in the form of a heat map.
Signal Trading
The platform mainly provides a macro concept, allowing users to understand the current market hotspots and explain where the current investment narrative is.
IntoTheBlock
IntoTheBlock mainly aggregates various DeFi information, including project data and token trading status.
Project Data
The platform integrates the data performance of various current market focus sectors, allowing users to obtain the latest project information.
The information also includes the current level of network gas fees, the performance of trading pairs of various DeFi projects, etc.
Signal Trading
The advantage of IntoTheBlock is that the information is comprehensive enough, the project data of all sectors can be viewed at a glance, and users can make corresponding strategic deployments based on the project information.
Arkham
Arkham is an on-chain data tracking platform that focuses on the display of on-chain data and is specifically designed to systematically analyze and deanonymize blockchain transactions.
Visualizer
Arkham Visualizer allows users to visually track cross-chain fund flows. With this feature, users can use the filtering function to filter out the required fund flows based on blockchain, time, currency, amount, etc., so as to clearly identify the inflow and outflow of funds.
The above is the flow of funds in the DWF Lab wallet. You can clearly see the interaction records between the wallet and other addresses, and understand how the institution uses the funds.
Signal Trading
With the same concept as RootData, Arkham further visualizes the records of wallet interactions, allowing users to formulate trading strategies based on the transfer-out/in records of Smart Money wallets.
Dashboard
Arkham also provides a Dashboard function that allows users to monitor all on-chain transaction records of individual addresses. This information includes its holding performance, recent transaction records, and even usage records in DeFi.
Signal Trading
Similarly, users can observe the strategies for deciding transactions in the large transfer records of Smart Money Wallet.
Eigenphi
EigenPhi is a research platform focused on MEV (Miner Extractable Value) data in DeFi. Its feature is the ability to identify and track MEV capture behaviors on the chain, such as arbitrage, sandwich attacks, liquidation, etc. While displaying the MEV market, EigenPhi also provides detailed information on each MEV transaction.
MEV Performance
The platform can provide information on the actual transaction volume and actual profit (gross profit after deducting mining fees) of various MEV activities, including their proportion and growth. In this way, users can get a very clear and comprehensive overview of the current MEV market. Users can clearly see in real time the type of MEV involved in the exchange, the contract address that initiated the MEV transaction, actual income and expenses, and other data.
Signal Trading
The platform provides researchers with data for MEV research and also provides ideas and references for MEV traders, so that they know which project or blockchain will generate the highest income for MEV transactions.
MetaDock
MetaDock aggregates various EVM blockchain browsers, omitting the step of finding a blockchain browser and allowing you to search directly in the plug-in.
When users click Fund Flow in the tab bar, they can visualize the associated accounts and fund flow chart of the queried account. Through the filter in the upper right corner, you can choose to display the specified transfer address/entity, or currency.
Signal Trading
The program also facilitates users to track the flow of funds and is the main source of transaction information.
Ave.ai
Ave.ai is a one-stop Web3 interactive terminal that aggregates on-chain Dex, DeFi, Token and NFT protocols, and is committed to providing a Web3 interactive platform with safer funds, more professional data and more convenient experience.
Search for projects : Once logged into your account, use the search bar at the top of the page to search for the crypto project you want to analyze.
View Project Overview : The Project Overview page provides an overview of the project, including key metrics such as market cap, trading volume, and price performance. This page also includes a chart showing the project's price trend.
The interface also displays the audit of smart contracts to ensure security, and also displays the proportion and address of the top holders, making it easier for users to track the flow of smart money and understand whether the token is too concentrated or decentralized.
Birdeye
Birdeye is basically an extended version of CoinMarketCap, covering information on various meme coins. Users can view the project's price, trading volume, candlestick charts, and more.
Find Gems : This feature mainly helps traders find and screen some potential tokens. The user interface provides various filters, such as "most frequently traded", "most viewed", etc. At the same time, you can also choose "most profitable" so that traders can find the trading tokens that suit them.
Find Trades : This interface also records all transaction records on the chain. The most practical function is to select the transaction amount represented by "shrimp", "dolphin" and "whale". Tracking the flow of funds in the "whale" wallet is a way to track market intelligence.
Birdeye Bot : Provides instant access to price, volume, liquidity and holder count information, meeting crypto traders’ need for real-time data. The new pairing 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 memecoin.
Pairing Browser
Users search for any token and its available pairs on any supported DEX. For example, when searching for token pairs on Solana, DEXTools will display a list of Solana pools. Users can click on any pool to display detailed charts and analysis pages for that specific pool. This includes drilling into the pool transaction history, viewing the reliability score assigned by other DEXTools users, and viewing the user's own position and interaction 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 to ten charts for any given blockchain and trading venue's token pair. Search for your chosen asset using filters to narrow it down by blockchain and trading venue. DEXTools charts allow you to change time parameters and chart types, and offer a range of tools and indicators to support technical analysis.
Rankings
The interface displays the most profitable or popular token pairs for traders’ reference.
GeckoTerminal
GeckoTerminal is a DeFi and DEX aggregator. It covers market data and prices of any token traded on 900+ DEXs and 110+ blockchains, and is created by the same team behind Coingecko.
Wide coverage
A significant advantage of GeckoTerminal is that it supports a wider range of blockchains and DEXs, and provides more comprehensive and in-depth information for some niche projects than other platforms. The rest of its functions are roughly the same as Birdeye, Dextool, etc.
Signal trading from Ave.ai , Birdeye, Dextool, GeckoTerminal
These three tools are very similar in nature and have been key tools in the recent memecoin craze, providing the fastest solution for trading these speed-focused memecoins.
GMGN.ai
Gmgn.ai is a platform that specializes in tracking the transaction records of smart money and Degen KOL, clearly showing the transaction records of profitable smart money.
Profitable Smart Money Wallet
The platform automatically tracks the most profitable smart money wallets and displays information such as their holdings, token trading history, etc., with the aim of allowing other traders to copy their trading.
Real-time transaction records
Record the transaction performance of Smart Wallet in real time, so that other traders can receive the latest information.
Degen Bot
Connect to Telegram Bot, which has a notification function to know the latest token transaction status.
Sniper Bot Products
Sniper Bot is an automated program set up to perform specific tasks at a predetermined time. This type of product is often used to participate in online buying and selling, cryptocurrency issuance and trading, aiming to accurately capture the market. The main products and related performance of this sector can be referred to this panel on Dune Analytics.
Unibot
Users can easily issue on-chain token trading instructions through dialogue interaction with Unibot to complete various trading activities on Uniswap. This includes token exchange, copy trading, limit orders, and privacy trading. In addition, Unibot also provides real-time Ethereum new token alert services, allowing users to easily add new tokens and quickly conduct sniper transactions.
Currently, Unibot earns income in two main ways, namely robot transaction fees and transaction taxes on the native token UNIBOT.
In the former, Unibot charges a 1% handling fee for each transaction, of which 40% is allocated to token holders; in the latter, all UNIBOT token transactions are subject to a 5% tax, 1% of the transaction volume is allocated to token holders, and the token holding balance must be greater than 50UNIBOT to be eligible for revenue sharing rewards.
Unibot on Solana
Unibot recently launched a similar Telegram Bot on the Solana platform. Taking advantage of its old project, the project has the following outstanding features:
Built-in cross-chain bridge for ETH and SOL: basically merges the original Unibot on Ethereum with the one on Solana, becoming the first Bot project that supports both chains at the same time.
Cooperation with Birdeye, a transaction data aggregator platform: Being able to seamlessly support all project transactions displayed on Birdeye is, in my opinion, the ultimate function to enhance user experience and an important turning point for UniBot’s future success in the Solana market.
Unibot on Base
Given that the transaction fees of the Base public chain have been significantly reduced after the Cancun upgrade, it has become another public chain platform where on-chain meme gather after Solana. As a senior Sniper Bot, Unibot's transaction volume on the Base platform has also increased.
Protocol Performance
This shows that Base has replaced Ethereum and become the preferred public chain for trading meme coins. Its peak trading volume reached $3.88 million on March 30, accounting for more than 60% of the project's revenue.
Banana Gun
Banana Gun provides two main services: trading and sniping. Through the trading function, users can safely purchase tokens that have been listed on the blockchain. The sniping function enables users to be the first to buy new tokens when they are released. Banana Gun also supports Ethereum, Solana, Blast, and Base. The following is a detailed interpretation of its functions:
First Bundle or Fail (FoF) : Targets the first purchase at the start of trading (block 0), requires at least 10 wallets to participate to be valid. Does not apply to MEV or Deadblock releases.
FoF backup : If the FoF function is not triggered when MEV or Deadblock is released, the backup function will purchase the next available block and use the backup miner tip.
Slippage : Allows price fluctuations in the 0–99% range for issuance with no maximum trading limit. Setting this to 100 is equivalent to "unlimited" slippage.
Degen Mode : With this feature enabled, users can purchase transactions that act as "honeypots" to discourage bot users. If this setting is enabled, bots will ignore the security tax setting and can purchase tokens even if they cannot be sold.
MaxTx or Revert : Limits purchases to a maximum spend. If the maximum transaction amount of a token exceeds this amount, the transaction will be reverted.
MinToken : Set a minimum token amount or percentage for a purchase. If the maximum spend does not meet this minimum, the transaction will fail.
Anti-Rug : Attempts to sell tokens before a potential scam if taxes exceed safety settings or there are signs of fraud.
Transfer on Blacklist : If the user’s wallet is blacklisted, this function will transfer tokens to a predetermined “transfer wallet”.
Pre-Approve : Automatically approve tokens after pre-order for faster selling.
Snipe Settings : Allows you to adjust the settings of the current snipe without affecting other pending or future snipes.
Robot Trading Fees : There are fees for trading using the robot service provided by Banana Gun: (1) 0.5% for manual buy transactions; (2) 1% for automatic sniper transactions. 50% of all robot trading fees collected are distributed to token holders. This also provides a passive income stream for holders, incentivizing the use of robots for trading.
Additional Cashback : Users who trade through the robot 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 the random multiplier value.
Protocol Performance
Similarly, Base Chain’s transaction volume also surpassed Solana and Ethereum, reaching a peak of $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 used by the project is \(BONK, which was originally released as a free airdrop to the Solana community on Christmas Day 2022. Since then, \)BONK's adoption has grown exponentially, with uses covering DeFi, gaming, payments and more. As an official partner of the $BONK community, BONKbot provides users with a range of features:
Minimum holding value : In the user's portfolio, you can set a minimum holding value to be displayed. Tokens below this threshold will be hidden. This feature is particularly useful when you do not want to sell certain tokens, even in the event of a failed investment (commonly known as "quilt"). Click to edit.
Automatic buy : When the user pastes the token address, the system will immediately execute the buy operation, eliminating the confirmation step.
Button Configuration : Users can customize the buy and sell buttons on the dashboard. When buying or selling tokens, just click on each button to edit it.
Slippage Configuration : You can customize the slippage settings for buy and sell. Slippage is the difference between the transaction price and the execution price. Proper configuration can help you better control transaction costs. Click to edit.
MEV protection function : BONKbot has teamed up with Jito Labs to provide users with an advanced MEV protection function that can accelerate transactions by default and defend against pre-transaction 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 the fastest speed. If the normal transmission speed is faster, the transaction will not trigger MEV protection.
Secure mode : This mode guarantees transaction protection in all cases, even if it means that the transaction speed may be slowed down. Users can speed up the transaction by increasing the bribe amount.
When enabling the MEV protection feature, users can choose the above mode and decide the priority of the transaction: medium, high or very high. For advanced users who need more detailed control, BONKBot also provides the option to customize the transaction priority.
SolTrading Bot
SolTradingBot is another clone of BONKBot. It is basically based on the Telegram Bot, but it has some unique features, such as:
DEX Integration:
Integration with major DEXs: SolTradingBot has been integrated with Jupiter, Orca, and Raydium, three of the leading decentralized exchanges on Solana.
Enhanced access to liquidity: Users can access the extensive liquidity pools of these DEXs, enabling efficient execution of trades at the best prices.
Diverse Token Opportunities: Provides a wide range of trading options from established cryptocurrencies to emerging projects.
Multi-DEX Strategy: Enables users to leverage the unique advantages of each DEX platform and optimize transactions.
BTCBot.pro
Solona and ETH use the account model, while BTC uses the UTXO model. 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 innovation of BTCBot.pro and its possible impact on users and the industry.
BTCBot.pro is a Telegram Sniper Bot product of the BTC ecosystem. The product was launched on December 23, 2023. It is currently focused on engraving and trading BRC-20 tokens, and has launched some practical functions to solve the current problems facing the BTC field.
Since the BTC ecosystem is very different from the ETH EVM and Solana ecosystems, their 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 ecosystem refers to the issuance of BRC20 tokens, and the secondary market refers to the trading of BRC20.
BRC20 Sell Order Function
Before BRC20 tokens are listed on trading platforms such as OKX or Unisat for sale, they need to be minted. For example, if you want to sell 2000 \(abcd (a certain BRC20 token), you need to first convert 2000 \)abcd into an inscription, then set a price for the inscription, and then post it on the trading platform to wait for the order to be eaten. There is no handling fee for placing a limit price sell order, and the user only needs to pay the gas fee for minting.
On BTCBot.pro , when users use the "Limit Sell" function, they can place orders on Unisat, OKX and other platforms at the same time without adding any cost. The same inscription can be used to place orders on two platforms, which will increase the probability of the sell order being executed.
BRC20 limit buy order function
This is the first time that the limit buy order function has been proposed in the BRC20 field. Its buy order function has the following four characteristics:
Zero cost
After setting the price and purchase quantity, users can modify or cancel the limit buy order at any time without any gas fee. Like the sell order function, the buy order function is also applicable to trading markets such as Unisat and OKX. Currently, the Unisat buy order function is available.
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 when the order is executed will affect the comprehensive price of the token. For example, the number of tokens in a certain order is 100, and each price is 1 US dollar, but the transaction currently requires a gas fee of 9 US dollars. 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 this sell order will be triggered to be automatically executed; if the user sets it to 5%, it will not trigger the transaction, which can avoid the increase in the comprehensive cost of token purchase. The more tokens in a certain order, the smaller the transaction slippage.
The "slippage setting" mentioned here is unique to the BTC ecosystem, and is different from the slippage of users in Uniswap, which uses the AMM mechanism. Because under the AMM mechanism, the slippage is affected by the size of the Liquidity Pool, while the current BRC20 field affects the slippage by the BTC transaction Gas Fee. Through the slippage setting, users can filter out the orders they really need and effectively control the overall cost.
Handicap Management
Most of the current BRC20 trading platforms cannot use the limit buy order function, so institutional participants such as market makers or project parties cannot manage the market well and can only manage it with market orders. This has greatly affected the activity and depth of transactions. The limit buy order function can solve this problem. Project parties or market makers can manage the market in BTCBot.
Automatic matching
In BTCBot.pro , you can see how many limit buy orders there are. Coin holders (sellers) can observe the order thickness and choose the price at which to sell, while buyers can get chips at a lower cost 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 noticed the following key points:
Increased demand for instant and in-depth information : As the market changes dynamically, investors’ demand for instant and comprehensive market information has increased significantly. For example, RootData and ICODrops provide real-time updates on financing and ICO situations, helping investors grasp the latest developments in the primary market.
Diverse analysis tools : There are a variety of analysis tools on the market, covering everything 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 Internet to reflect market hotspots.
User-friendly interface and ease of operation : Product design tends to be easy to use without a 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 enables a wider range of users to easily access and utilize these tools.
Integration and interoperability : Many tools are moving towards broader integration and platform interoperability. For example, MetaDock aggregates multiple blockchain browsers to simplify the user's query steps; and Unibot's cross-chain bridge function supports the interoperability of 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 insights into market strategies and trading opportunities.
Improved security and transparency : As investors demand more security and transparency, more platforms are beginning to emphasize these features. For example, Ave.ai displays the audit of smart contracts in the project overview to ensure security.
Automated and robotic functions : Market trends show that automated and robotic trading functions are becoming increasingly popular. These functions not only improve trading efficiency, but also enable quick responses to market changes, such as the sniping and trading functions provided by Sniper Bot and Banana Gun.
In summary, these product features show that the market demand for efficient, real-time, user-friendly and highly integrated trading and analysis tools is growing. In addition, we have also summarized several in-depth trend changes in the cryptocurrency field. 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 update functions reflects the extremely high demand for speed and timeliness among market participants. For example, the real-time data update function of tools such as RootData and ICODrops means that the market's 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 instability and high volatility of the crypto market make timely access to information crucial.
Parallel advancement of decentralization and integration:
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 functions provided by Unibot and MetaDock reflect the market's high demand for operational convenience and resource integration.
This trend shows that while decentralization is the core feature of blockchain, user experience and feature integration remain key factors in promoting technology adoption.
User interface and simplified operation:
The diversification of investors and user groups has driven the need for a simplified interface. Platforms like PinkSale allow users without a deep technical background to participate in token creation and pre-sales, indicating that the market is moving towards a more popular and democratized direction.
Behind this change is the popularization of technology and the improvement of education level, which enables non-technical users to participate in previously complex crypto-economic activities.
Building security and trust:
As the crypto market expands, security issues are becoming more prominent. More platforms are beginning to emphasize security audits and transparency of smart contracts, such as Ave.ai 's security demonstration. This shows that the market is moving towards building a higher level of trust and security.
The driving force behind this trend is the multiple security incidents and financial losses in the previous market, which prompted industry participants and users to pay more attention to security measures.
Wide application of intelligence and automation:
The popularity of automated tools such as Sniper Bot and robotic trading capabilities shows the market’s need for high efficiency and responsiveness. Automated tools can respond quickly in a fast-moving market, which is essential to taking advantage of market opportunities.
Behind this trend is technological advancement, especially the application of artificial intelligence and machine learning in trading strategies, which improves the success rate and efficiency of transactions.
In summary, the changes in these underlying trends reflect the maturity of the cryptocurrency market, while also pointing out the dynamic balance between technological development, market demand and user experience.
