Expect the crypto market to keep churning out the hits once the gas runs out in previous iterations of...well, anything.
Every two (or three) years, there’s a new crypto market cycle. And with that is a bunch of new market participants—A.K.A The suckers for the ones from the last cycle, who in turn were the suckers for the participants before them.
Each cycle also brings on new narratives. Back in 2012, something called “colored” coins made the headlines in the then very niche and very criminal market. These were essentially what formed the grassroots for Ethereum as we know it today: A class of methods for representing and managing real-world assets on top of the Bitcoin blockchain.
Ethereum’s launch in 2015-16 changed that. The world’s blockchain computer became the instant backbone for opportunistic actors to launch applications that ran only using in-app tokens. Millions of dollars flowed into such apps, and by 2017, the pie became big (and greedy) enough to start slapping anything on a blockchain and walk out with a million-dollar check.
Easy money, it was. There was something for dentists on the blockchain, truck drivers and deep-sea divers on the blockchain, fish farmers on the blockchain. Heck, someone even put God on the blockchain.
Except it didn’t last long. Early 2018 saw the bubble burst (I like to think rightfully so), and the market went from an $850 billion cap to as low as $150 billion in 2019. However, there was something magical that brewed during this time—Ethereum devs (and other more speedy blockchains) realized they could actually change the financial market with DeFi (short for decentralized finance) apps.
Essentially, this meant putting the entire bank-, lending-, credit-, and other finance-like structures on the blockchain. Viewable for all, accessible to all, meant for #all.
Even though the seeds for this were sown in mid-2019, it bloomed in 2020. The year saw the rise of synthetic assets exchange Synthethix, decentralized lending market Compound, yield aggregator Yearn Finance, and—very importantly—decentralized exchange Uniswap.
Extreme use cases like 1,000% APYs and the ease of swapping in and out of crypto assets (earning a portion of fees on each transaction, instead of a centralized exchange owner pocketing that) meant Uniswap attracted BIG liquidity and quickly became the exchange of choice among crypto traders.
Estimates from tracking app DeFiPulse put Uniswap’s liquidity at a staggering $3 billion at the time of this writing. That’s a LOT of capital, one that most wouldn’t guesstimate as recently as 2018. And as a result...came the new market cycle, with them, the new crop of market particip...err.
Enter new suckers, but this time, with actual working products on the market. There are now shiny new dApps, DeFi tools, and 100x gems released in the market daily. Some of them have already given returns of up to 55,000% IF you were at the right place at the right time. And the casino is alive, once again.
Exactly where do you see these alts, however? Where do you chart them? Where you map supply and demand and support and resistance? Compare prices?
I now am out of Es to begin my paragraphs intelligibly with. But I’ll do you one (or three) better. Here are some places you can now chart Uniswap gems...for free.
A complete package. ChartEx, as of mid-2020, saw over a billion requests for its free charting service, an average of 24,000 visitors, and a staggering 250,000 charts a day. These are ALL Uniswap gem charts—one’s that aren’t available easily on most other platforms.
The product recently launched its own Telegram bots that provide users with price alerts, whale alerts, and WalletTrade alerts, which all together allow traders and investors to take action in case there’s a big sell/buy.
It also has its own token, CHART, with a circulating supply of 52 million and a market cap of $500,000. 71% of CHART holders registered and connected their wallets to the platform. Roughly about 1500 people actively using it daily and steadily growing
Similar but not similar to ChartEx, this is a community made TradingView integration for Uniswap. This means there are all the altcoins, DeFi coins, and shitcoins you can imagine available here, and it’s an easy-to-use, low downtime, and intuitive place to chart coins.
There’s no token available for this platform yet, so if you hold any, it’s most likely a scam (as of Jan.17 2021).
The world’s biggest and most well-known platform TradingView launched its own charting tool for Uniswap in late-2020. In the search bar, you can simply type “UNISWAP: token name” and view all charting data.
One drawback that I personally noticed was that ultra low-caps aren’t really available, nor are most coins instantly available on listing. ChartEx and Uniswap.Vision excels in this regard.
And here you have it. These will help you with the current market cycle with all the charting information you need. As for tokenomics, the old and trusted CoinGecko and CoinMarketCap will do the job. And for research, there are the coin communities on Twitter (and their websites themselves) to do the job.
Anyhoo. Analytics tells me the average attention span of most readers is just around this mark. So I am gonna end this post here. As always, do your own research, stay safe, and don’t get phished. TY for reading.
Find me on industry-leading firms CryptoSlate and Decrypt for daily news, research, and cryptocurrency analysis. Follow my Twitter @shauryamalwa for useless banter and RTs of more useless stuff.
Disclaimer: None of anything I write is financial advice.
Disclaimer2: I am short the current financial regime.