Hello everyone, today I would like to show you briefly how etherscan looks and works and show you a very effective strategy related to this.
What is Etherscan
Etherscan is a portal which is an explorer of the ethereum blockchain. You can type your address into etherscan browser. There you will be able to find the history of your deposits, withdrawals, how much money you have available, generally everything that has ever happened on your wallet. Your wallet data is publicly available on etherscan, therefore you only need to know your address to access any transactions not only on your wallet but also on the wallets of others.
What you can type into your browser is the address as I mentioned earlier or Smart Contract which means you want to search for Smart Contract which generates some tokens. When it comes to etherscan it is the ethereum network browser which means that Etherscan focuses entirely on blockchain ethereum, therefore, you can search for every ERC-20, ERC-721, and ERC-1155 tokens. Once you know the basics, what it's for, how to use it, you know that it's very simple and everything is transparent, you can build different financial strategies around it. I will try to discuss one of them which in my opinion is very interesting and effective.
A strategy worth throwing in and reviewing from time to time is the strategy of catching the big players who are having a very good timing. How to do it? For example, if you know that in the last two years Chainlink has grown a lot, you type in this cryptocurrency on etherscan, enter the "holders" tab, where you can find all holders of this cryptocurrency.
After entering this tab you start searching for addresses. Immediately you reject all addresses connected with exchanges. Usually, the exchanges are signed and those smaller exchanges that are not signed you can recognize by the fact that transactions go out very often (every minute for example). Once you have found the address of such a good investor who had good timing, you can compare the time at which a given amount of coins flowed to the address. If you compare this timing with the chart and you notice that wow this guy bought at the bottom and held it so far, therefore it means that this is an investor who has a nose for this. If you see that this guy has a really good shot, you can go to his wallet, and there you have everything available. What he invests in, when he invests, what he is currently selling, and so on. With a few investors in mind, you can find great investment opportunities even at a very early stage.
Etherscan when it comes to usability is outstanding. It can be used in many different ways and the strategies built around it are extremely effective. There is really a lot of strategies here. The only thing that blocks these strategies is sometimes your head and creativity. Don't let that happen and be creative ;)
Links below are affiliate links and I earn small commission at no extra cost to you. I only recomend products I truly believe in.
➜➜ Earn Passive Income with Cake Defi. Get 30$ for signing up and depositing 25$ (worth of crypto).
Hope you found today’s article helpful. If you want to learn more about trading follow me at @Fizz-on-my-Jayce. Have a nice day :)