Tracking decentralized exchange data

Explore: Tracking Uniswap and other Decentralized exchange offerings

By ChildOfTheMany | ADA Army | 19 Jun 2021


Trading Uniswap coins can be risky business if you do not know what you are doing. There are a lot of factors that go into buying a coin for profits, or for making an investment on a decentralized exchange like Uniswap, Sushiswap, Pancakeswap, etc. Credibility of the creators behind the coin, purchase price, market analytics and data, and most of all proper timing of your buy. Timing is imperative to lock in that asset at the right point for those sweet 10-100x gains, or to not lose your A$* 😭 when things turn the other way.    

For the longest time, I have avoided buying coins off Uniswap and the likes in favor of buying lows on more established coins on Centralized exchange platforms and waiting for them to rebound. It was safer; the coins were already established and less likely to be rug pulls. Plus, I could perform TA on these coins with proper charts and indicators to time my buys and sells.

This does the trick to make some quick profits, but limits the user to just investing in coins that have already seen most of their gains when their initial exchange listings happened. Sure you can jump onto a platform like Kucoin and grab a few gems here and there before they hit mainstream exchange recognition, but your not going to find that 100x coin lying around on a centralized exchange to buy unless its during a multi-year bear market. In my search for a way to get in on these 100x gains while reducing my risks, I came across a platform, DexTools, which I believe will prove to be invaluable in doing so, and will set the standard in the space for tracking decentralized coin offerings.

 

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 Dextools and their DeFi hub, allow users to track and trade coins listed on their favorite decentralized exchanges much in the same manor they would on a centralized exchange, offering full charts and live coin data for tracking, and making the scary proposition of spending your hard earned money on random internet currencies a little bit more palatable to the average person.

 

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Ok. So I can track coins....That it?

 

There is a fatal flaw for some of us with Coingeko, Coinmarketcap, and other sites like them. When it comes down to tracking your favorite currencies, especially if its not a more mainstream coin or listed by a larger exchange, they wont have the necessary data you need to properly trade or invest in your target asset. Most of the relatively unknown coins that people would be targeting as future investments have no proper charts, and therefore, nor do the people that would want to trade them.They provide no live price feeds; users are forced to refresh the page for updated current prices,  and provide no visuals besides a basic line of in which direction the asset is going. Forget that.

I will not touch a coin unless I can perform TA on it. TA leads to better buys and sells. Full stop. Dextools provides that ability to do so. This is how I plan on tracking and trading the Revuto coins that I got from signing up with my email, and from the referral program. It's also how I have been tracking and investing in  Cardano native assets like the C3 coin, Cardanos decentralized oracle Charli3. They just partnered with DexTools also.

 

 

 

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Cool, It has charts 😃👍.  Anything else you'd like to waste my time with?

Sure, why not 😃.

I have a problem with Uniswap. It's not the Unicorn logo. It's not the prices (this time). It's not the rug pulls. It's the UI. While the visuals of Uniswap UI are fantastic, the functionality of it in many areas are lacking. In particular, being able to trade multiple pairs of tokens at one time in the same interface. I always wondered why multiple pairs of coins that you want to trade couldn't be organized onto a single page, instead of having multiple tabs open, one for each pair. It's annoying constantly having to switch back between them if you're trying to buy multiple assets. With Dextools, this is solved. Now I can trade whatever assets I want in a single page.

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Lets be clear. I still do have a problem with rug pulls tough.

 

Fortunately, Dextools uses industry leading CTDSEC smart contract Auditing. It allows Dextools to not only prove which blockchains listed on the application are audited, but it also monitors the transactions on-chain to expose malicious scams or functions within the contracts code. It can even tell you if it's a bot trading. Combine that with being able to check the liquidity of any project on the platform before you invest, and a DEXT Score for those extra-cautious people, you have a platform that has enhanced safety features over just trading on Uniswap alone.  

 

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Conclusion

If your looking to trade or invest in coins on Uniswap or other decentralized platforms without preforming TA or tracking market data, it can be very risky. Dextools solves this with full featured charts, live market data, and contract auditing for extra security. Its list of features including multiple swap pairings, and live charts make it almost necessary for anyone looking to invest in the DeFi who are looking to reduce risk.That being said, this is by no means advice to invest in this company or "ape" into the coin without doing your own research 😉

 

 

 

 

 

 

 

 

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