There are hundreds of new projects coming out on the market every day and thousands of legit projects already exist. But you probably only want to focus on a few projects at a time. Similarly, there are certain wallets (e.g. whales) that you want to follow. The question is, how can you manage and track them in one place? And how can you efficiently catch important alpha info? Let's discuss the approach in detail.
Imagine that you have 5 potential collections in your mind and wonder which one to buy. You might find it overwhelming and time-consuming when having multiple pages open on your browser and using a cumbersome number of cloistered tracking tools. With the NFTGo.io Watchlist feature, you will be able to add all these collections to a dashboard, along with their key metrics (e.g. market cap & volume, floor price trend, holder activities).
By comparing each collection's key metrics, you will get insights into the collection with the highest trading volume, the collection with an uptrend floor price, the collection with the most long-term holders, and more. Besides, you can check holder activities on the watchlist. If you find a few whales and blue chip holders are bulk purchasing a collection that you followed, then this may be a signal for you to think about getting into the collection.
If you have already bought NFTs in some collections, you can also add them to your dashboard. Besides key metrics, tracking whale and blue-chip holder activities for each collection will help you find buy or sell signals faster. The activity section not only includes on-chain activities (e.g. sell, buy, mint, transfer, etc.) but also social content posted by whales and blue-chip holders on Mirror. Let's say you find a lot of whales are selling NFTs of a collection you participated in. This may be a good time to reconsider exiting the project.
Tracking smart money activities is also a good way to find alpha. Our watchlist enables you to manage and track multiple addresses in one place. Similar to the collection dashboard, you will be able to find key metrics of each address, including est. holding value, holding value, profit and loss, etc. These key metrics help provide a snapshot of the recent performance of these addresses. If you are looking for potential collections to buy, you can discover collections the smart money holds and collections they recently bought. And you can follow their recent activities to track the market signals.
Another tactic for finding alpha is to follow other people's watchlists. If you find a collection that is added to many watchlists, then it probably means this collection has the potential to grow. Or an even smarter way is to follow the watchlist of smart money. The collections they are following are more likely to become alpha.
Tips: If you are not sure which collections or wallets to follow, you can download the list we recommend to get started.
*Note: the above example does not constitute any investment advice.
Updated about 1 month ago