25 years is not exactly fitting for an $8 billion fraud, but the justice system is a ‘god’ figure and has a very little history of being queried successfully. The Luna guy is still being shipped through prisons; we might have a prison break soon. Wonder how many memecoins we’ll be getting from these stories? Should be a lot.
I’m taking some time off to add one more episode to this series and it’s not because the steak tastes nice…well, maybe; but it’s been a while since the last one. There’s been a few notable events since then; like Bitcoin reaching new ATH and memecoins shitting on ‘blue chip’ utility coins. This could change when the AI wave returns. But before that happens, enjoy seeing a new dog stuff in the top 50 ranks when you open your Coingecko application.
About a week to another Bitcoin halving, last time it happened, we had some miners closing up their mines and moving on to ‘better things in life’. Well, they came running back when Bitcoin did that price bump thing. This time might be different, it is the healthiest I’ve seen Bitcoin before a halving. Almost 6X up from the previous halving. We’ve had at least 20X scams and 200X rug pulls since then, but the ‘investors’ greed is still at ATH. That might help push this thing to $250k and you’d be able to pay off the lease for your Lambo.
The light is all on Bitcoin, but some other guys will be halving too, BSH, LTC…and BSV. Still a fan of Mr. Wright. A real comedian, that one. If the Boomers and Millennials at Blackrock don’t buy up all the Bitcoins, then retail could still feast on the debris this year. It might be the other way around since this space has been overtaken by Wolves. They went from memecoin rug pulls to pre-sales, that’s just a simple evolution.
Not sure how long I could go without mentioning the lifeblood of the current crypto space – Airdrop Hunters! It’s been quite a year for anyone in that hustle. Tons of ‘projects’ launching with an airdrop taking the lead. And yeah, the earndrops. Those ones are the real money mines, but not really for the hunters. You could simply launch anything with incredible liquidity and Market Value. Just make sure you grease the palms of the airdrop hunters, sorry, community. And community is everything…I think so.
I’ve got a ton of respect for the real builders in the space, the ones working hard to create new narratives that will be eventually overtaken by scammers and memecoiners who are still a subset of the former. The real competition in proliferation is between memecoins and ‘AI-powered’ projects. ChatGPT is probably the most forked or ‘leveraged’ codebase since Sam and his friends announced it. We could see something similar when DePins and RWAs hit the ground running.
Anyway, very excited about the Fetch.AI, AGIX, and OCEAN merger. In a space where everyone is launching pieces of mediocre projects, it is a breath of fresh air to see three reputable projects come together to build something that could actually help. Decentralized AI is the way to go and this is just the right time to make such moves. ASI has all it takes to be a leading figure in the crypto and mainstream AI space. No pun intended, super excited for this one!
Well, it’s almost 600 words and this rambling is meant to be 600 words long maximum. But the steak doesn’t taste bad. Even if it does, the cost is something to consider. Might be a while before the next episode drops. But there’s been like five already, you can binge-read till the next one. Probably when Bitcoin hits $100K…if it does.
The CryptocurrencyScripts Medium publication has been running for only about 10 months. During this time, we’ve been able to onboard several talented cryptocurrency writers and have grown significantly as a publication. However, this is not one of those cooperate press releases, so we will go straight to the point.
We are adding two minor updates to the publication’s layout and would like to inform our community of these updates. Feedback on new and existing features is welcomed!
A Feature page for Curated articles
An average of 30 new articles are submitted to our publication per week, this figure will surely grow in the future. To promote the most impressive articles from the daily submissions, we have added a feature page for handpicked articles. Curated articles will also be shared on social platforms. This is in line with our goal of adding value to writers who submit to our publication.
To access this page, Click Curated Articles on the publication’s Homepage.
At the time this announcement was made, the CryptocurrencyScripts publication receive over 15,000 views in 30 days and readers spend over 20,000 minutes reading articles submitted to the publication in a month.
With this figure, your project could benefit greatly from running an Ad on our homepage. We are reviewing this feature to ensure mutual benefits for readers and projects running Ads. There could be major changes to this in the future. This will be promptly communicated.
Yeah, this was meant to be a short one. The CryptocurrencyScripts publication and the project as a whole is a work in progress and the main focus is on the readers and writers. New and existing features will be adjusted to stay in congruence with this goal.
Pump and dumps are coordinated manipulation of the value of a commodity for a quick rise followed by a sharp drop in the asset’s value. As the name implies, the ‘Pump’ describes a sharp price growth, while the ‘dump’ describes the following sharp drop.
Pump and Dump is a generic term, with its application cutting across every investment space. However, it has seen more relevance in digital investment spaces. Such practices are easier to effect in environments like these. Such assets include stocks and shares, precious metals, and digital currencies like Bitcoin. This article focuses on Pump and Dumps in the crypto space and how this applies to the everyday trader. First, what is pump and Dump in crypto?
What is Pump and Dump in Crypto?
Cryptocurrencies are known for their volatility. But sometimes, this volatility is influenced by artificial causes and could be followed by a sharp drop. The basic concept is sustained, but cryptocurrencies are involved this time. Pump and Dump in crypto is a common concept, for assets with low liquidity, this is even more common. Crypto pumps and dumps are coordinated and targeted towards a pre-selected crypto asset. The common goal here is a quick profit for the perpetrators. Here’s how it works
How crypto pump and dumps work
The execution of a pump and dump is straightforward, First, a congregation of traders is built using available social media platforms, then the pump and dump selects a crypto asset and crypto exchangeto be used and communicates the schedule for the event and target price.
During the agreed time, the traders in the community proceed to make quick purchases of the selected asset, this leads to a sharp rise in the value of the asset. The rise attracts other traders to buy into the asset, which further grows the price, when the target price is reached, the traders proceed to sell the purchased asset, making profits and leaving other buyers in losses. The success of the pump and dump depends on how well the community adheres to the plan.
Another step in a pump and dump is the shilling of the asset. This usually starts after the community members have made their purchase. A coordinated dissemination of information about the asset follows. This attracts other traders to take a look at the asset which is already growing in price. This is also known as a pump signal, but it is not limited to this explanation.
What is a pump signal?
For the pump and dump community, a pump signal is a notice of the details of the pump and dump. It is an invitation to purchase the asset before the external pump signal commences. For the non-members of the community, the Pump signal is usually a shill by contracted influencers or community members. This is done by a coordinated positive evaluation of the asset, including the sudden price growth. This attracts more people to buy and grows the price further.
What are Pump and Dump groups?
Most crypto pump and dump groups use Telegram, another known social media platform used by crypto Pump and Dump groups is Discord. Depending on the popularity of the pump and dump group, each community could consist of a few hundred to thousands of traders.
The pump and dump groups consist of different tiers of members. The Admins control activities in the group, including the dissemination of information about the intended activity. The community also consists of coaches who are usually tasked with educating new members of the community’s culture. Older members are also tasked with inviting other traders to the group, this is usually rewarded with perks such as a growth in their rank. This might mean access to more information.
How to detect Pump and Dumps
Due to the widespread volatility of cryptocurrencies, it is hard to differentiate a pump and dump from a genuine price jerk. However, there are a few things to look out for
Liquidity and popularity of asset
If a relatively obscure crypto asset with low liquidity suddenly starts going up massively in price. It is advised to do proper research before buying into the pump. Low liquidity and less popular assets are easy targets for pump-and-dump groups. This is because their price moves up easily.
Sudden hype
One of the ways pump and dump groups boost their profits is by shilling the target asset. If an asset suddenly starts being discussed by social media accounts and popular traders, it is also advised to do further research.
While this doesn’t guarantee it to be a pump and dump, it is one of the common characteristics of known pump and dump cases.
What are pump bots and how can they help you make profits?
The hack in pump and dump is Speed. Your ability to detect the pump, and make quick buys and quick sale is paramount to making profits in your trade. A pump bot can help you do each of these faster and with ease.
Once you obtain information about the assets to be pumped, the pump bot can help you make a quick buy and when you wish to sell, the bot can also help you make a sale. This can be done in a few seconds. Some advanced bots can be automated to make repeated buys and sales according to set algorithms.
FAQ
Are Pump and Dumps legal?
The legal provisions for pump and dumps are not clear, since it is not the same as insider trading. However, from a financial law aspect, they are illegal as artificial manipulation of community prices is illegal.
How much profit can you make from a pump and dump?
How much profit you can make from a pump and dump depends on four factors.
• Your capital • Your point of purchase • The Success of the pump and dump activity • Your point of sale
You can make a substantial amount if you buy early and sell before the asset starts to dump.
Is it possible to join a pump and dump group?
Yes, however, this might depend on the community structure. Some Pump and Dump groups are public while some are strictly based on invitation.
Conclusion
Pump and dump is a turbulent way to make profits. while this can be rewarding, it also has its risks. One of the risks is being trapped when the asset dumps. Traders who fail to take profit before the pump even ends could run into losses. Therefore, it is important to do proper research and invest wisely |
Bitcoin opened the year at one of the highest price levels ever. Really looking like a solid year, if we don’t ruin it with some funny events. In all my time in the space, I’ve not seen a year as bullish as the one we just entered, but it’s hard to tell the future. $100,000 Bitcoin and $5,000 Ethereum, you are surely expecting your shitcoins to print some good numbers this year too, the Lambo dreams look more realistic than ever. The stars are aligning, but this space has a history of being wild.
This isn’t even financial advice but here’s how we might rock this year;
Bitcoin Halving
At the time this article was written, a Bitcoin miner earns 6.25 Bitcoins for each block they mine successfully. This is set to change later this year after the next Bitcoin halving, stipulated for April this year. 3.125 BTC per block is still a very significant reward. Compared to what miners used to receive, we’ll have a 50% lesser emission rate. This has been shown to have a positive effect on the price of Bitcoin, hopefully, history continues to repeat itself. Bitcoin Cash and Bitcoin SV will also be halving this year; you probably don’t care much, but I just had to put it there in case.
Spot EFTs
If things go as expected, we could have some major developments on the Bitcoin ETF applications from the previous year. The build-up from 2023 was catalyzed partly by rumors surrounding spot ETFs for Bitcoin, Ethereum, and a few other cryptocurrencies. The effect on the value of these assets is out of the question, IF the ETF applications go through, then we can expect some real fireworks, but IF. Apart from the assets with filled spot ETF requests currently, ETF listing applications for more crypto assets could happen in 2024.
Pump it, Nope?
Bitcoin halving and Spot ETFs in the same year. Cryptocurrencies have pumped due to some ridiculous news, these two events are of very much importance compared to these. I’d say we are due for that $100k Bitcoin and $5,000 Ethereum. Altcoins are due for a pump, memecoins too. Everyone, really. Just remember to take profits on some of your ‘blue chip memecoins’ though. This might not last for assets in that class, but this is not financial advice either.
Shift in CEX dominance
Centralized exchanges are controlling crypto trading. For all the average investor cares, this is more than fine. But the thing is, decentralized exchanges are getting better, apart from the periodic exploitations, of course. The big advantage is the freedom it gives investors and project teams as well. The fact that you don’t need to pay a listing fee to create a liquidity pool is cool stuff. On CEXs, listing fees run into hundreds of thousands (dollars). If you are not a liquidity provider, Decentralized exchanges are a bit safe, but don’t forget to revoke access when you are done with your swap. I could make a list of some promising decentralized exchanges; Mute on ZkSync, Uniswap, DyDx, and a few others, but I’m sure there are tons of other excellent decentralized exchanges. These decentralized exchanges will likely challenge CEXs for trading volume. I said, Challenge!
Regulatory crackdowns to continue
We saw many crypto institutions sit in the courtroom and even more invited to investigation panels. Regulatory bodies in different countries are taking a closer look at what we are doing here, and where they see an opportunity, they will certainly swoop; especially if there’s a possibility of going away with a few billion dollars. Don’t get this wrong, the space needs some regulation and we will surely be seeing more of these this year, hopefully they don’t ruin our party!
Bitcoin Virtual Machine (BitVM)
BRC-20 tokens might make the wave this year. SRC-20 tokens as well. But I think another trendsetter will be the Bitcoin Virtual Machine. No need for my personal opinion here, so I will just say what you want to hear; this Bitcoin VM could signal another Era for the Bitcoin blockchain. Decentralized finance and DApps on the oldest cryptocurrency blockchain will be an interesting one to see. Seriously, it will be even better if we just focus on making Bitcoin a perfect P2P payment facility. But that’s my opinion and it doesn’t even matter.
What else?
What else? This post surely didn’t cover everything, neither are the predictions correct. But before you laugh at the ‘ridiculous’ predictions, let’s know what we missed out on, and your personal predictions as well. No, don’t start with Michael Saylor buying more Bitcoin, that’s surely going to happen since the man actually wishes to own every Bitcoin on Earth. Also, what is a Bull run without ridiculous gas fees on Ethereum and some other L1s and even L2s? Maybe good news for projects like ZkSync and Arbitrum. Well, What else?
Concluding, it will be really interesting to see how these events unfold during the year. Sometimes things don’t really work out the way we want them. Hopefully, the disappointment is your memecoin printing a 10X instead of a 100X. Anyways, it’s all the same if you pass up on the profit-taking opportunities. On a more serious note, 2024 might not be business as you know it, even a semi-bear like myself is feeling so bullish! Looking forward to it!
2023 is one of those events you cannot describe with one word. It’s been a hell of a year! If anyone in the government gets to read this; consider extending the holidays. Unfortunately, in the capitalist world we live in, this isn’t even up to the government anymore. One of the year’s biggest events in crypto is Bitcoin’s climb to $44,000 from levels below $17,000. An over %150 rise in a year is a significant one. Ethereum hit $2,300 as well…at least we are leaving this year better than we met it. Yes ‘WE’.
Well, while you decipher that, here are some of the notable events of the year;
Rug Pull, court, jail
Forbes’ ’30 Under 30’ is the new prerequisite for jail time, at least that’s the new conspiracy theory. It’s not really a ‘theory’ when we’ve seen it play out quite a couple of times this year and even the years before. In the crypto space, there’s been lots of court time and jail time. Luna guys, FTX guys, and maybe Binance too. Different levels of Rug pull. We will keep calling out the memecoin rugpulls, but the CEX rugpulls are a thing. The space needs regulation, no doubt, even though the regulators aren’t the best kind of people. Several interventions have seen notable figures in the space go through court sessions and potentially, jail time. Financial crimes aren’t a joke, but we can’t keep ourselves from finding something funny out of any situation…like the courtroom painting of Mrs. Caroline.
Institutional insurgence on crypto
Multi-billion dollar mainstream financial institutions are steering into the crypto space in many ways. The mainstream VC invasion has been a thing for a while, but some big money institutions are launching spot ETFs for cryptocurrencies. Bitcoin, Ethereum, Bitcoin Cash, and LiteCoin. According to rumors, there is one for XRP…and PEPE. Not sure about these two but if the rumors are true, then the theory about mainstream institutions “coming for your Bitcoins” might be true as well. The BlackRock spot ETF for Bitcoin is yet to launch, but ‘rumors’ have it that we are close. Didn’t happen this year, maybe next year. Regardless, of the intent, we are seeing an increased mainstream exposure. This could be good for the price, we are not sure what it means for ‘Satoshi’s Vision”, but the random altcoin trader will take a solid 10X over that.
L2, Meme, Cashout, repeat
Over 11,000 cryptocurrencies are listed on asset-tracking platforms. Untracked assets are at least twice this figure, mostly memecoins. ‘Blue chip memecoins’, RugPull memecoins, and proper memecoins that accept their fate as being reliant on pumpamentals…and luck. But if you made that quick 10X on assets like this, then you can proudly enjoy your win. Like the past two years, 2023 witnessed a flood of memecoins, just like the tons of Layer-2 scaling solutions that launched this year. For each new L2, there are at least 50 memecoins, we’ve lost count of the memecoins on Ethereum and other L1s. Many L2’s usage statistics ride on the back of memecoins, and this is fine. We just want you to know that Memecoins didn’t die in 2023, we’ll check again in 2024.
Bitcoin – The new ‘Ethereum Killer’
BRC-20, BitVM…the Bitcoin blockchain now runs its own kind of smart contract. On the bright side, you can inscribe data on the Bitcoin network, on the other side, the Bitcoin blockchain was developed for the sole purpose of P2P transactions. The experiments are cool, but the after-effects are also significant. But this is not the time to say these; this paragraph only serves to inform readers that Bitcoin could be gearing up for a (very) new set of utilities. BRC-20 tokens and NFT-like inscriptions made the wave in the second and third quarters of 2023. The hype has died down since this time. The team behind BitVm is developing a Virtual Machine for the Bitcoin blockchain, these developments could shape 2024.
The Airdrop hunting continues
Every new protocol that launched in 2023 reached the one million user milestone in a very short time. We’d like to attribute this to the quality of these projects. But once we are done with that, we’d also like to talk about an obvious major contributor – Airdrop hunting! Lots of juicy airdrops from 2020-2022 and no one wishes to be left behind in the next multi-thousand dollar earndrop. So, the hunting continues. Good enough, even more projects have conducted such programs this year; Arbitrum, Celestia, PYTH network, no need for a long list. The average airdrop hunter should have something to show for the ‘hustles’ this year!
Not to jinx it, but 2023 looks like a perfect tone-setter for a massive 2024. The coming year is packed already and this year has done a good job at shining the lights to even better things…hopefully. If we don’t witness another Luna-level collapse, 2024 might just be the year. 2023 was a huge role-player here. The whole space has gone through a huge rebuild and regardless of how it went on individual terms, it is another one for the record books. And if you ever thought memecoins would fade out one day, this year is a good reminder that things like this are part of what makes this space what it is. The lights fade; the show continues in 2024!
CryptocurrencyScripts serve one purpose – to give investors something to read; when they wish to. We admit that the current setup isn’t perfect for this goal, but this is a work in progress. For the ‘work’ in progress, we have spent another year working on everything we want CryptocurrencyScripts to stand for; humor, simplicity, and versatility. In general, 2023 has been another step in the right direction.
Wrapping up an impressive year, we present our annual report, as usual. We understand that our readers could have missed some significant developments, or better said, some developments we feel are ‘significant’. Now, we aren’t good with hype words, so the following updates are as plain as they can be!
Here’s how we ran through the year;
In 2023 we;
Built a community for Writers…and readers
The regular cryptocurrency investor is more interested in partnership, airdrop, and technical exploitation announcements. How-to guides come immediately after these. Lesser attention is paid to regular articles, which form the bulk of our publication, but we are glad to operate in this area, and we are assembling other writers who hold this belief too. As part of our effort to pool writers into a single community, we created the CryptocurrencyScripts medium publication. Don’t ask how we could afford the $50 annual medium membership for this feature! Just visit the Cryptocurrency Scripts Medium publication. Join a community of writers.
FYI over 700 investors read our publication every month! Rookie numbers? Nope? Thanks!
Didn’t stop writing
We are writers at heart, for the passion and the Pa$$ion. The former supersedes and this is why we keep working on the next paragraph. For cryptocurrencyScripts, external projects, and for individual media projects, we didn’t stop writing, and we are planning to change this anytime soon, even when the readers stop reading. CryptocurrencyScripts is built with words, for words.
Traded memecoins
Before you read the next words, CryptocurrencyScripts is not a fan of Memecoins. But we’d like some quick profits and memecoins are some of the quickest movers, and we mean this in both directions. So, we dabbled into a few of them; the dog-themed ones. We can’t say the same for the writers in our community, but if you are still wondering how we got $50 to pay for a Medium membership, your answer might be staring at you.
Watched the Charts
If you trade memecoins, or any digital asset, then you surely watch the charts. That’s what brings us all together. We weren’t left out, GeckoTerminal to watch memecoin charts and Coingecko to watch every other chart. DexScreener is cool too. You certainly have your picks, TradingView probably. Whichever one, the number of times you open these in a day is what sets you above others. We should be somewhere at the top of the list.
Started the Snack Talk series.
Everyone loves to shit-talk while they chew on a sugary snack. Same here! We started a series where we pick up snacks and talk about the crypto space while we eat them. Not a serious thing to do? Of course, you are right, but it’s certainly a fun thing to do, which is why we do it once in a while. The crypto space is only fun during the Bull Run, so the series is a bit slow. If the bull season eventually returns we can drop these things faster.
Closing up; We are gradually drawing the curtains on another rewarding year and are even more inspired to do better next year! If there is anything we are most proud of, it is the fact that you are reading these words and probably enjoying them. We are growing as fast as we can, organically, and we want our readers and followers to be made up of people who are interested in reading more from us. Remember to hit the follow button if this is you.
DexCheck is your crypto investment assistant. Just like investors in any other sector, cryptocurrency investors are in constant search of applications that help them make more informed decisions and also lessen their investment research and routine trading workload. Investors have found applications in DexCheck’s ecosystem really useful. DexCheck’s principal goal is to improve an investor’s chances of making a profitable trade. These applications are structured to suit investors of different abilities. If you are searching for a one-stop investment assistant, DexCheck might just be it for you. Let’s take a look at how DexCheck is empowering investors using diverse applications;
Automated portfolio manager: Smartfolio
The smartfolio is a Telegram-based portfolio manager. Smartfolio keeps a watch on your investment for you while you focus on other aspects of your investments. By developing a portfolio manager that works on the Telegram application, DexCheck selects an application that investors use routinely. Telegram is one of the most widely used mediums of conversation and smartfolio fits in just well. Investors can receive push notifications about changes in the price of the asset they invested in and decide their next moves. To use the smartfolio, investors simply need to interact with the bot and enter details of their investments, this includes the assets and the amount they hold.
Smartfolio can also track assets in a provided wallet, an investor simply needs to provide the wallet details. Smartfolio connects to the wallet to obtain information on assets being held on supported blockchain networks. Smartfolio currently supports over 10 blockchain networks, this could improve with time as well.
On-chain analysis with clear-cut technology
DexCheck has developed wallet trackers, Dex trade analytics application, top traders’ trackers, and whale trackers as well. These applications are designed to obtain information from the blockchain and present pre-analyzed data to investors in a way that allows them draw conclusions easily and accurately. On-chain analysis can reveal information for investors, but most investors either use them inappropriately or below their maximum capacity. DexCheck’s on-chain analysis tools guide investors towards making the best out of on-chain data.
AI-engineered investment insight application
InsightGPT is another utility application on the DexCheck ecosystem. InsightGPT used artificial intelligence to analyze trades on decentralized exchanges. It obtains trading data and evaluates them to detect high-profile trades. These trades are usually from traders with high positive PnL and assets traded between wallets with running records of profitable trades. DexCheck informs investors of such trades and allows them to decide their next moves. These insights are actionable, they are ‘useful’ to investors.
Passive income opportunities and investor empowerment
For investors who hold DCK – the native token of the DexCheck ecosystem. DexCheck offers numerous ways to benefit from investing in the project. DexCheck’s revenue-sharing program allows investors who hold DCK to benefit from the fees generated on the platform. Holders also have access to pro trader applications and can also benefit from staking programs on-chain and on centralized exchanges.
Closing Thoughts
What’s your approach to trading? Traders seek profits in different ways and different levels of success have been recorded for each approach. But if you seek to pursue investment success through well-researched investments and by augmenting this research with efficient tools, then you might want to give DexCheck a try. The smartfolio and InsightGPT have seen a higher user headcount, but other analytics tools in the ecosystem are also thriving. We have reviewed these applications and how they work, investors can also seek better ways to put them to use.
Having said this, it is important to note that this article only educates users on applications in DexCheck’s ecosystem and is not financial advice.
The DexCheck ecosystem is powered by the DexCheck token. DexCheck token currently trades at $0.022 at the time of writing with a total market cap of just $3 million. The DexCheck ecosystem is built to grow mutually with the DexCheck token. The DexCheck token can be traded on decentralized exchanges on Ethereum and Binance Smart Chain (PancakeSwap) and centralized exchanges like Kucoin and MEXC.
For the over 6,000 investors who currently hold DexCheck tokens in their personal wallets and investors who will be buying this token in the future, there are a number of benefits. These benefits are related to the ecosystem and beyond it.
We explore some of the use cases of the DexCheck token.
Platform access and privileges
Staking the DexCheck token qualifies you for numerous benefits on the platform. One of these benefits is access to special applications according to the tiered provisions. Note that you only need to stake your tokens to qualify for these benefits. Staking at least 20,000 DCK tokens allows you to enjoy pro traders’ features.
This includes access to applications like InsightGPT and top traders analytics. Staking the DexCheck token also gives you access to the IPSO and allows you to participate in the revenue-sharing program.
IPSO is DexCheck’s launchpad which is open to stakers only. Stakers are given the opportunity to invest in new projects before they launch. The revenue-sharing program allows stakers to benefit from the platform’s financial success.
Passive Income Opportunities
DexCheck offers income opportunities to holders of the DCK token through staking programs and yield-farming opportunities. The on-chain staking program offers APY of up to 35%. APY varies according to the selected lock-up period which could be up to one year.
DexCheck also partners with centralized exchanges to host staking programs for investors. the recent staking program in partnership with Kucoin offers investors up to 100% APY for staking their tokens on the exchange. Liquidity providers for the DexCheck token trading pairs on decentralized exchanges also earn from the trading fees paid by other traders. The revenue-sharing program is also a good income opportunity presented by DexCheck.
Governance
The DCK token also plays a role in the administration of the project, DCK holders, through the DexCheck DAO can vote on proposals concerning the development of the project. Through the DCK token, DexCheck tokenizes the governance of the project, this makes for decentralization at every level. DCK token holders can vote on proposals related to platform upgrades, fee structures, token burns, and other important decisions. Holding the DCK token gives you a say in the project you are invested in.
Intrinsic value investment
The value of the DexCheck token fluctuates over time. Investors bet on the possibility of the token’s value appreciating over time according to market conditions and the project’s fundamentals. While market conditions are unpredictable, projects with strong fundamentals are known to grow over time. DexCheck has solid fundamentals the token’s value has been in appreciation for a majority of its existence. In addition to the utilities mentioned above, holding the DexCheck token can also return tangible value to investors. Investors can decide to hold the tokens and trade them in when the value grows or commit them to any of the passive income programs for extra benefits.
Closing Thoughts
Click here to see active trading pairs for the DexCheck token. We have discussed a few benefits of holding the DexCheck token. These are accurate at the time of writing. These benefits could improve as the project continues to grow, but it is also important to note the risks of investing in crypto assets. It is recommended that investors do proper research before purchasing any crypto assets. Also, note that this article is not financial advice.
DexCheck is empowering cryptocurrency investors to make informed decisions in their routine investments. By making actionable data available at every trader’s fingertips, DexCheck hopes to improve the recorded success rate for cryptocurrency investments. In a space as volatile and challenging as this one, this is for sure a tasking goal. I have made a number of reviews of the different applications in the DexCheck ecosystem. The telegram bots and the wallet analytics applications are at the top of my list, but there is still a whole lot to discover.
The Telegram bot and most of the analytics applications are free to use, technically, all applications in the DexCheck ecosystem are free to use. However, the pro features will require you to stake some DexCheck tokens. By staking the DexCheck token, you also get to enjoy tons of staking benefits in addition to gaining access to the Pro features. There are two tiers, expert and Oracle. To enjoy expert features, you will need to stake at least 20,000 $DCk. The Oracle tier is the most advanced tier and gives you access to every feature on the platform. The required stake to enjoy Oracle benefits is 100,000 $DCK. At current DCK token prices, this is about $2000. You can purchase DCK tokens from Kucoin, PancakeSwap, and MEXC exchange. Click here to enter the DCK staking portal
Here are some pro traders’ features you are missing out on
InsightGPT
Insight GPT is DexCheck’s flagship AI-powered investment tool. It is only available to pro traders and packs a lot of powerful data-driven analytics for every investor. Under the hood, InsightGPT is a data-sourcing machine that is designed to collate related data and analyze them into presentable information in single sentences. It leverages the ‘Smart money’ feature which is also available on DexCheck. Smart money is a collation of top traders for specific crypto assets. InsightGPT proceeded to apply an algorithm to analyze these data. For instance, if two traders featured in the smart money list buy the same assets, then the asset is deemed a potentially profitable one. InsightGPT proceeds to notify Pro traders of this transaction in plain words. An InsightGPT data presents a brief summary of the trader’s records and an insight into their most recent trades.
An insightGPT alert takes this form,
For any trader, this takes up the bulk of their copy trading process and gives them ample time to follow up with the most experienced traders in the market. InsightGPT combines the functionalities of wallet analytics and whale tracker applications and employs artificial intelligence algorithms to develop a compact data machine. The Artificial Intelligence arm of insightGPT is schooled on the best trade moves and the core signs of an experienced trader. Just like most other AI-powered applications, InsightGPT is in evolution. While the current stage is quite impressive, it will be interesting to see how the DexCheck team hones the application to adapt to even newer trading moves.
How to use InsightGPT for your trading.
Click here to access the application on the DexCheck Platform
The InsightGPT interface is real-time and newer information is shown as soon as the application detects, you can follow up on a specific trader or simply screen through the sniped addresses.
You can also run analytics on a trader that interests you. To do this Click Analyze from the top right corner.
This takes you to the Wallet analyzer interface for the address. Here’s how to navigate the wallet analyzer interface;
How to use the Wallet Analyzer.
First, the network section presents a list of blockchain networks where the address is active.
You can navigate to the different networks by simply clicking on them. The analyzer presents information for the selected network Only.
On the Top section of the wallet analyzer page, you can see the calculated PnL for the address, the total volume of trades made on the selected network, and the total value of the asset in the wallet’s custody.
The page usually opens to the PnL calculator, otherwise, navigate to the PnL section by clicking PnL calculator from the options in the left corner.
The PnL page presents the profit and loss the address has across different trades on the selected network. You can see a detailed breakdown of each trade and the profit or loss generated for the trade(s)
To see a breakdown of the assets in the trader’s custody, click Holdings from the menu to navigate to the Holdings section. Here you will see assets the trader is invested in. if you wish to limit the presented assets to assets listed on Coingecko only, check the box next to Coingecko Tokens in the Top right corner.
The Trading history, the Buying, and the Selling section show a further breakdown of trades by the wallet. You can navigate to these sections to obtain detailed information on the separate transactions.
Setting up a notification
You can set up notifications to follow a wallet closely. The Notification feature is a function of the DexCheck Telegram wallet-checking bot.
To use this, click the bell icon from the top section, beside the wallet address.
This should immediately open your Telegram messenger or request permission to open the Telegram messenger.
You can now set up a notification for the wallet and get a push notification on your device when the wallet makes a trade.
SmartFolio
Smartfolio is your intelligent portfolio manager and investment assistant, it is a Telegram bot that helps you track your investments and updates you with signals and price movements as it concerns assets in your wallet. You can integrate your wallet into the bot or manually add the assets you are invested in.
Here’s how to manage your portfolio using the Smartfolio Bot
This returns a message with an option to import your wallet or track the asset manually
To track assets manually, click Add Coin manually.
Enter the Smart contract address or the name of the coin you wish to track
The Bot presents a list of similar assets, Choose a line number that applies to the asset you wish to track
Now enter the amount of the asset you own. Send to complete.
To add import your wallet,Click Wallets from the menu.
Click Import Wallet address to continue
Enter your wallet address and send
The bot now tracks the assets in your wallet
Click My Portfolio from the Main menu to see assets
To set up an alert
Click Smart Alerts from the main menu
Click Add New Alert.
Enter the line number for the alert you wish to set.
You will receive alerts as it applies to your choice.
Top traders (for fungible tokens and NFTs)
The top trader’s features are another quite interesting application available to pro traders only. Like InsightGPT, it is a data-driven machine as well, however, it gets quite interesting. Instead of presenting the data on interesting trades separately, the top traders’ feature collates high positive PnL traders and traces these trades down to the maker, then it runs a calculation on the total profit and loss generated by the trader. It then shows on the interface, the traders with the highest gains over a specific period of time. This feature is flexible, you can adjust the timeline for the calculations and filter your searches to narrower data. The Top Traders application (for fungible tokens) supports over 20 blockchain networks and 30 decentralized exchanges
The interface is quite intuitive and also has a link to the wallet analyzer to allow you to perform deeper studies on the trader.
Here’s how to use the top traders feature (for fungible tokens)
How to Identify Top Crypto Traders Using DexCheck
Click here to navigate to the Top Traders application.
The list is set to a specific network, Click the Network section from the top right corner to select a desired network.
You can now see the list of traders with the most successful trade on the network. This is initially set to 30 days period.
To change the period, Click on Time Basis, you can set it to 7 days or 24 hours.
You can also arrange the list according to the Traders’ PnL and unrealized profit. Click on any of these as shown above.
To run a deeper analysis on the wallet, Click Analyze from the right corner to access the wallet analytics page for the address. Follow the wallet analyzer guide above to navigate through the wallet analyzer interface.
How to Identify Top NFT Traders on DexCheck
Flipping an NFT for some profit isn’t really as easy as it appears, but some popular NFT traders have mastered this trade and constantly print profits in their NFT trades. As a newbie and regardless of your expertise in the sector, following up traders with a recurring record of profitable trades can improve your performance as well. With the DexCheck Top NFT Traders application, this is much easier.
The Top NFT Trader application works in a similar fashion as the Top Crypto Traders application, but it tracks NFTs instead. Also, the Top NFT Traders application only supports the Ethereum network at the time of writing.
The landing page lists NFT traders with the most profits in a period of time. Click the duration box in the top right corner to change the duration.
To run a deeper analysis on any of the traders, click AnalyzeAddress from the top right corner.
The wallet analytics page for NFT traders is similar to that of crypto traders. Refer to the wallet analyzer guide above to navigate through the wallet analyzer interface.
Closing Thoughts
We could see traders raving about insightGPT, this is quite understandable, the lead it gives the everyday trader is handy, but the underlying technology is even more impressive. It is likely that we see this tool develop into a more capable application. However, the Smartfolio comes close in terms of utility. By being integrated into the telegram messenger, it delivers its role perfectly. Still, one to keep tabs on as the project develops. The Top Trader feature might also fall down the pecking order as InsightGPT continues to evolve. Either way, it is still a handy tool.
The point here is, looking at the utilities of the pro trader features and how accessible they are, every trader should consider trying these out. Even better, newer features will be available to pro traders.
We have covered a few aspects of DexCheck from the technological point of view. Check out some of these articles
DexCheck Telegram bot is a suite of trading tools you can operate from your Telegram messaging application. The bot is available for Mobile and Desktop versions of Telegram Messenger. Telegram trading bots are not a thing in crypto and you can find a number of them with little research, but the functionalities and accuracy could differ.
I have been doing a continuous study on DexCheck and writing about my experience so far. The Telegram bot has been a handy one, for anyone trying out DexCheck’s Telegram Bot, here’s a detailed guide on how to use the features. Note that this article isn’t exhaustive of the Telegram bot application.
Here are some of the features we will be trying out
● The DexCheck Multi-wallet crypto Trading bot
● DexCheck crypto wallet tracker bot
● Smartfolio bot
● The DexCheck Token Scanner bot
First, set up the Telegram Bot
How to setup the DexCheck Telegram Bot
The Telegram Bot can be easily accessed from the DexCheck application or using the direct link to the bot.
Here you can find all available Telegram Bots by DexCheck.
From the featured bots, select a desired bot. Click on the bot to proceed.
This opens a dialog on your browser, Click Send Message to open the Telegram Messenger.
On Telegram, Click Start to start interacting with the Bot.
How to use the DexCheck Multi-wallet Trading Bot
The Trading Bot is an integrated and simplified bot for traders who seek a more comfortable way to run their trading activities. The trading bot connects to decentralized exchanges to execute buy and sales for coins and tokens.
The DexCheck trading bot also have limit order functionalities, you can set up a complete conditional sale or buy order from your Telegram messengers.
The bot provides you with three wallet addresses. You have the option to use any of them for your trades.
You can also export the wallets or import your old wallet to the Telegram Bot.
To export/import wallet click Settings.
Click Import Wallet to add an existing wallet to the bot
Click Private Keys to see your wallet keys.
You can export the wallets using the private keys
Trading with DexCheck Telegram Bot
Fund your wallet by transferring BNB to the provided wallet address
To make a purchase,
Click Buy tokens from the menu
Click on the wallet to select the wallet you are trading from
Set the amount of BNB you are spending on the trade by selecting any of the options, you can set a custom amount by clicking Custom.
Set the slippage
Click Enter Token Address to enter the smart contract address of the token you wish to buy.
The Bot proceeds to execute the trade
To Sell a token
Click Sell Tokens from the Menu
The bot presents a menu.
Set the trade details from the menu
Click select Token to sell.
The bot presents a list of tokens in your wallet(s).
Enter the line number of the token you wish to sell and send.
The bot executes the sell order.
How to set up limit order trades using DexCheck Telegram bot.
Click Buy Limit or sell limit from the menu
Set up the trading conditions including the asset you wish to trade, percentage of your portfolio you wish to trade, the conditions for the trade (percentage increase or decrease) and the lifetime of your order (time for expiration)
To transfer assets from your Telgram bot Wallet to other another wallet
Click Transfer BNB
Set the wallet you are sending to.
If you are sending to an external wallet, Click Customto enter the wallet address
Set the amount you wish to send
Click Send Transfer to complete
PnL Analysis
You can also see a breakdown of your profit and loss using the bot.
To do this, click PnL Analysis from the main menu
The bot shows a list of the assets you have traded and the PnL in BNB
You can also generate a picture to share with your peers or audience by clicking Share.
Enter the line number of the asset for which you wish to share a PnL analysis.
You can now download the image from the bot
How to check your token balances
To see your bot token balances, click Token Balances from the main Menu
The bot presents a list of tokens held in your wallets
How to use the DexCheck crypto Wallet tracker bot
DexCheck Wallet tracker keeps you notified of transactions from a specified wallet. It allows you to set up a desired wallet and screen every transaction from the provided wallet. Wallet tracking is an important part of investment research. As a cryptocurrency investor, track other investors’ wallets and run your trades from information obtained from their operations.
For instance; if you just discovered a trader with a high success rate on their trades, you can set up the Telegram bot to follow up on their trades and keep you updated on their subsequent moves. You can now copy their trades easily.
Another use for wallet trackers is to follow up on labeled or suspicious accounts. This comes in handy if you wish to track the movement of a specific asset from the wallet. The DexCheck Telegram bot is able to narrow down your tracking operation to single networks and a specific asset. DexCheck wallet tracker supports 10 networks including Ethereum, BSC, and Arbitrum. It can track up to 20 wallets.
From the Crypto whale tracker on the Platform, I researched some whales with winning trades on Uniswap (Eth and Arbitrum) and Pancake Swap and I’m tracking their trades using the bot.
Click Subscribe Address to add the wallet you wish to track
Enter the wallet address and send to add.
Now the wallet is added, you can add a tag to the wallet for Identification
Click Yes, and set a name for the Address.
You can access the bot menu by clicking Menu from the left side of your screen
To add another address, click Menu and select Subscribe address .
To tag a wallet, click Menu and select Add tag to address.
The setup is done, the bot now tracks trading activities from the wallet across the 20 supported networks. When the wallet executes a trade, you will receive a push notification on your device with details of the trade.
You can also visit your chat with the bot to see the complete details.
To stop tracking a wallet, click Menu and select Unsubscribe address .
Enter the wallet address you wish to stop tracking and send to complete
How to use the DexCheck SmartFolio bot
The Smartfolio bot is an optimized asset tracker and management bot developed by DexCheck to help investors keep a check on the assets they are invested in from the comfort of their Telegram messenger. You can import your wallet to the bot or add the assets manually to allow the bot to track them. Here’s how to use the smartfolio bot
This returns a message with an option to import your wallet or track the asset manually
To track assets manually, click Add Coin manually.
Enter the Smart contract address or the name of the coin you wish to track
The Bot presents a list of similar assets, Choose a line number that applies to the asset you wish to track
Now enter the amount of the asset you own. Send to complete.
To import your wallet,Click Wallets from the menu.
Click Import Wallet address to continue
Enter your wallet address and send
The bot now tracks the assets in your wallet
Click My Portfoliofrom the Main menu to see assets
To set up an alert
Click Smart Alerts from the main menu
Click Add new Alert.
Enter the line number for the alert you wish to set.
You will receive alerts as it applies to your choice.
The DexCheck token Scanner Bot
The Token Scanner bot is the Sniper bot in development. Currently, the bot scans decentralized exchanges for new tokens and alerts users. When the Sniper bot is finally deployed, users will be able to quickly trade (Snipe) these new tokens and make profits by moving before the rest of the market.
The Bot now updates you with newly added tokens. When the Sniper bot it deployed, you can quickly trade these new tokens by clicking Snipe token .
Closing Thoughts
As financial operations advance, they get even easier. DexCheck’s Telegram Bots make managing cryptocurrency investments as easy as Texting a pal from your messaging application. But this is just out of the numerous advantages it offers. The automation and the ability to run even more advanced operations with minimal effort and maximum accuracy are at the top of the benefits. DexCheck offers vast options in this space.
For investors whose regular investment procedure involves studying other investors and following their moves, the wallet tracker ensures you don’t miss out on any important move. With vast options to select from, every investor can find a DexCheck Telegram bot that works for them and use it.
Having said this, it is important to understand how these bots work and how to use them, we have gone through the processes in this article. You can post any questions you may have in the comment section.
For more information on DexCheck, here are some leads.
