Quick News : TimeCoin’s Special Token Sale
Cryptocurrency Trader, Analyst, and Youtuber Lark Davis in his latest video shares his MO of finding the next big coin with the potential to blow up 100X in coming months.
Dewis says, the first measure is the market cap. Essentially a coin that has under $10 million market cap is to be watched out for, coins that are low valued but has a strong foundation.
The easy way to do it is to keep track of tokens on CoinGecko and analyze low-cap coins.
“ The easiest way to find these coins is to go over to CoinGeko.com and start scrolling a few pages in looking at the lower market cap coins, keep an eye out for those gems…CoinGeko tends to list hot coins within a few hours of them going live… You can also use the discover feature to find what coins are trending today”.
The next parameter to check is token sales. With almost a dozen tokens sales that did 100X sales on the day of listing it is a potential way to look.
The analyst however mentions it is a costly affair to gain eligibility to get into sales, as it costs thousands of dollars, hence he suggests looking for promotional offerings and token sales on platforms like Balancer.
“ there have been maybe a dozen or so token sales so far this year that did like 100X on day one of listing. Those are not typical results but it does happen.”
Another important factor to spot Altcoin gems is to look beyond the crowded trade. To explore more use-cases of DeFi and dive deep into which token or project has great capabilities.
“Start thinking about what is actually going to come next for DeFi…also while the entire market is focused on DeFi and NFTs, what other use cases are there for cryptocurrency? What about enterprise use cases like Unibright? Is the market ready for that yet? What about decentralized cloud computing, content delivery networks”.
Dewis further moves to protocol’s total value locked(TVL). Another great method is to look at the TVL of undervalued coins. He explains how a lower TVL score indicates more assets being locked in the platform than what the market cap depicts.
This can also be done on CoinGecko.com itself, he gave a live example of AAVE and Badger DAO’s TVL difference in his video.
The last and foremost important trick to find a gem is self-research, Dewis urges his users to dig deep into the market and analyze the use-case, revenue model, and innovation of the project. study if they have untapped potential, market need and if big venture capitalists are backing those projects.