October 31, 2022

How To Find Potential 10X Tokens: Using GeckoTerminal

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GeckoTerminal is a new advanced charting tool created by CoinGecko, and has the aim of becoming the most used tool in the crypto space for collecting on-chain data. In this article, we will discuss some of its features and how you can use it to make better decisions with your investments.

What Is GeckoTerminal ?

GeckoTerminal is a charting tool built by CoinGecko to track a wide array of ERC-20 tokens,as well as EVM-compatible chains and DEXs. GeckoTerminal has been available to use for a few months and has already adopted a large user base due to its unique features that make it easy to view the advanced insights of your tokens on-chain and price performance. GeckoTerminal was also made as a result of CoinGecko struggling to retrieve information for PancakeSwap and therefore it was decided by Bobby Ong to create GeckoTerminal.

What Makes GeckoTerminal Unique?

GeckoTerminal offers a much cleaner design and UI than its competitors, therefore it creates a better user experience. For example, everything is logically set up so that there is no need to enter different pages to find different features. Everything is on one page!

GeckoTerminal also supports over 20 EVM chains and over 100 EMNs which no other charting app does. Another unique aspect of GeckoTerminal is that it tracks over 500 000 ERC-20 tokens which is a massive number. Therefore you will be able to find all the smaller projects that you have come across and this allows you to dive deep into their technicals(Be careful which projects you view as GeckoTerminal does not look for scam tokens. They show everything).

As well as providing unique insights about tokens, GeckoTerminal also offers unique features that allow you to view different aspects of a token, such as:

How To Find The Next 10X Opportunity: With The Help Of GeckoTerminal!

When it comes to finding potential 10X tokens there is no better time than during a bear market such as the one we are currently facing. GeckoTerminal makes the technical process of evaluating tokens easier by showing you their 24H On Chain Transactions(TXNS) and their Liquidity. Before we discuss why these two metrics are important, let's discuss what they are.

24H On Chain Transactions TXNS

24H on-chain transactions are the transactions of a token that are recorded and verified on the blockchain within a one-day period. It is preferred that a token has a high number of 24H TXNS as it shows that the blockchain is being used. 

Liquidity

Liquidity refers to the ease at which a token can be swapped to other tokens. Therefore having low liquidity would result in difficulty swapping your tokens for another asset. Low liquidity in tokens can result in price volatility due to the order book being thin and this often results in malicious price manipulation.

These two metrics are important when finding reliable tokens to invest in(besides for fundamental research). You want to make sure that a token has not only got fundamental potential, but also technical stability and on-chain reliability. You want to find tokens with market caps of under $10 000 000 ideally (as this poses a higher room for growth) and tokens with high levels of liquidity, to avoid price manipulation and the inability to swap tokens in case of an emergency. Tokens with high levels of on-chain transactions prove that there is a dedicated user base within the token. 

One more aspect to look at is the 24H Volume of a token, if there is no volume chances are a token is being used as either a pump or dump or there are no new investors acquiring it. Even more importantly the 24H volume should be relatively stable for a token with a slight uptrend over time. This means that there is increased adoption and chances are that the token will perform well in the next bull run.

We hope that you found this article helpful and gave you a better understanding of GeckoTerminal, and how you can use its features to identify smaller (high ROI potential) tokens.