The evolution of on-chain data and signal trading tools under the MEME craze

Meme coins didn’t completely dominate the bull run in 2021, but they are now in vogue. This reflects the crypto market’s increasing involution on how to attract and maintain user interest. For example, concepts such as NFTs and GameFi/SocialFi, although more attractive than meme coins in their early days, ultimately became popular narratives due more to the ability of related projects to solve specific market needs and conduct “off-market acquisition”. Projects such as Axie Infinity and StepN have successfully attracted a large number of non-traditional crypto users to the market through unique money-making mechanisms and novel user interactions. However, the popularity of meme coins in this bull run is more “direct”.

This shift in market dynamics is also affecting the field of signal trading and on-chain data analysis. Signal trading and on-chain data analysis are quite important tools for cryptocurrency investors, providing one-step insights into market dynamics and investor behavior. By leveraging these technologies, investors can gain a competitive advantage and make smarter decisions based on real-time data and actionable signals. They not only enhance investors' ability to spot trends and manage risks, but also promote the mining of hidden opportunities in the fast-paced cryptocurrency market as a whole.

This Bing Ventures article will introduce a variety of analytical tools, covering information platforms in the primary market, sentiment analysis and trading opportunity tools in the secondary market, and summarize the development and evolution trends they reflect. Overall, we believe that the direction of innovation at the tool level must be closely integrated with user interface and market access strategy. In the long run, new protocols that can create real user value and promote widespread adoption through unique social dynamics and financial incentive mechanisms are likely to dominate the market. For example, integrating artificial intelligence elements and new user interaction modes may be key directions for future innovation, which can not only improve user experience, but also attract new market participants by creating unprecedented value.

Primary Market Tools

RootData

Financing Status

Rootdata collects information on all market financing activities and ensures that the information is updated in real time. Users can also choose to observe the financing performance of specific sectors based on different sectors.

After entering the project interface, users can view the project's financing performance in detail, including which venture capital institutions have invested.

The interface has various screening conditions, and users can choose projects of different progress, financing size, region, etc. according to their own standards.

Signal Trading

Users can judge or predict where the focus of the future market may be by viewing the investment intentions and trends of venture capital institutions in the current market.

Users can also further understand the investment situation of each venture capital, including their investment distribution and the projects they have participated in in the past.

Institutional wallet transfers

Rootdata also records the wallet transaction records of various units (including: venture capital, exchanges, market makers, etc.), and users can use this information to understand the flow of funds of institutions.

Signal trading

There is usually a specific meaning or information hidden behind the transfer of funds out/in of institutions. Take DWF Lab as an example. It is both a venture capital and a market maker, and the projects that cooperate with it often have violent pull-ups. If a project is observed to charge coins to the address of DWF Lab, this is likely to be a strategic investment made by DWF Lab; and if the DWF Lab address charges coins to the exchange, it is likely a sign of reducing positions after the pull-up. By analyzing these capital flows, we can reveal the market strategies and intentions behind them.

ICODrops

ICO Situation

ICODrops basically covers the future, present and current project ICO situation.

Click to enter the project page to view the token sale situation, including the time of sale, some basic token economics information, and the pre-sale allocation share, etc.

Signal Trading

Basically, ICO Drops allows users to view various first-tier market projects and gives them the opportunity to participate in the whitelist lottery and get the same first-tier market opportunities as venture capital.

PinkSale

PinkSale is a protocol that links projects and users, aiming to provide users with the ability to launch their own tokens and create their own initial token pre-sales, helping projects complete the early stages of IDO. The project party does not need any code knowledge, just operate in the Pinksale page and design their own tokens and token launches with a few clicks.

PinkSale will include multiple additional features to help projects complete the entire token launch. These features include: helping tokens to be listed on PinkSwap and PancakeSwap, locking LPs, and adding a vesting period to your tokens to increase investor trust.

Secondary Market Tools

Santiment

The information on Santiment mainly revolves around where the hot spots for cryptocurrencies are on the Internet. The purpose of this project is to eliminate information inequality in the Web3 circle.

Web3 Network Keywords

Santiment can integrate the most searched keywords on the Internet through AI technology to accurately reflect the hot spots of public concern.

Narrate the current market's Alpha narrative in the form of a heat map display.

Signal Trading

The platform mainly provides a macro concept to allow users to understand the current market's hot spots and explain where the current investment narrative is.

IntoTheBlock

IntoTheBlock mainly aggregates various DeFi information, including project data and token trading status.

Project Data

The platform integrates the data performance of various current market focus sectors, allowing users to learn the latest project information.

The information also includes the current level of network gas fee, the performance of transaction pairings of various DeFi projects, etc.

Signal Trading

The benefit of IntoTheBlock is that the information is comprehensive enough, and the project data of all sectors can be seen at a glance, and users can make corresponding strategy deployments based on the information of the project.

Arkham

Arkham is an on-chain data tracking platform that focuses on the display of on-chain data and is specifically used to systematically analyze blockchain transactions and de-anonymize them.

Visualizer

Arkham Visualizer allows users to track cross-chain fund flows in a visual way. Through this function, users can use the filtering function to filter out the required fund flows based on conditions such as blockchain, time, currency, amount, etc., so as to clearly identify the inflow and outflow of funds.

The above is the flow of funds in the DWF Lab wallet. You can clearly see the interaction records between its wallet and other addresses, and understand the use of funds by institutions.

Signal Trading

With the same concept as RootData, Arkham further visualizes the records of wallet interactions, allowing users to formulate trading strategies based on the transfer-out/transfer-in records of Smart Money wallets. Arkham also provides a Dashboard function that allows users to monitor all on-chain transaction records of individual addresses. This information includes its position performance, recent transaction records, and even its use records in DeFi.

Signal Trading

Similarly, users can observe the strategies that determine transactions in the large transfer records of Smart Money wallets.

Eigenphi

EigenPhi is a research platform focused on MEV (Miner Extractable Value) data in DeFi. It features the ability to identify and track MEV capture behaviors on the chain, such as arbitrage, sandwich attacks, liquidations, etc. While displaying the MEV market, EigenPhi also provides detailed information on each MEV transaction.

MEV Performance

The platform can provide information on the actual trading volume and actual profit (gross profit after deducting mining fees) of various MEV activities, including their share and growth. In this way, users can get a very clear and comprehensive overview of the current MEV market. Users can clearly see in real time the types of MEV involved in the exchange, the contract address that initiated the MEV transaction, the actual income and expenses, and other data.

Signal Trading

The platform provides researchers with data on MEV research, and also provides ideas and references for MEV traders to know which project or blockchain to trade MEV on for the highest income.

MetaDock

MetaDock aggregates various EVM blockchain browsers, omitting the step of finding a blockchain browser, and can be directly queried in the plug-in.

When users click Fund Flow in the tab bar, they can visualize the associated accounts of the queried account and the fund flow chart. Through the filter in the upper right corner, you can choose to display the specified transfer address/entity, or currency.

Signal Trading

The program also facilitates users to track the flow of funds and is the main source of transaction information.

Ave.ai

Ave.ai is a one-stop Web3 interactive terminal that aggregates on-chain Dex, DeFi, Token and NFT protocols, and is committed to providing a Web3 interactive platform with safer funds, more professional data and more convenient experience.

Search for a project: After logging into your account, use the search bar at the top of the page to search for the crypto project you want to analyze.

View a project overview: The project overview page provides an overview of the project, including key metrics such as market capitalization, trading volume, and price performance. This page also includes a chart showing the project's price trend.

The interface also displays the audit of the smart contract to ensure security, and also displays the proportion and address of the top holders, making it easier for users to track the flow of smart money and understand whether the token is too concentrated or decentralized.

Birdeye

Birdeye is basically an extended version of CoinMarketCap, covering information on various meme coins. Users can view the price, trading volume, candlestick charts, and more of the project on it.

Find Gems: This function mainly helps traders find and screen some tokens with potential. The user interface provides various filters, such as "Most Frequently Traded", "Most Viewed", and so on. At the same time, you can also choose "Most Profitable" so that traders can find the trading tokens that suit them.

Find Trades: This interface also records all transaction records on the chain. The most practical function is to choose the transaction amount represented by "shrimp", "dolphin" and "whale". Tracking the flow of funds in the "whale" wallet is a way to track market intelligence.

Birdeye Bot: Provides instant access to price, volume, liquidity and holder number information to meet the needs of crypto traders for real-time data. The new pairing bot feature will also notify users of newly listed trading pairs on Birdeye-supported exchanges, providing traders with early information that gives them a competitive advantage in identifying potential investment opportunities.

Dextool

Dextool is basically an aggregator of trading platforms and the main trading information platform for memecoin.

Pairing Explorer

Users search for any token and its available pairs on any supported DEX. For example, when searching for paired tokens on Solana, DEXTools will display a list of Solana pools. Users can click on any pool to display a detailed chart and analysis page for that specific pool. This includes drilling into the pool transaction history, viewing the reliability score assigned by other DEXTools users, and viewing the user's own position and interaction with the pool.

Newly Listed Tokens

The interface displays newly created tokens on social media, allowing traders to receive trading information as soon as possible.

Multichart

Multichart allows you to set up to ten charts for any given blockchain and trading venue's token pair. Search for your chosen asset using filters to narrow it down by blockchain and trading venue. DEXTools charts allow you to change time parameters and chart type, and provide a range of tools and indicators to support technical analysis.

Rankings

The interface shows the most profitable or popular token pairs for traders' reference.

GeckoTerminal

GeckoTerminal is a DeFi and DEX aggregator. Covering market data and prices of any token traded on more than 900 DEXs and more than 110 blockchains, it is also created by the same team behind CoinGecko.

Wide Coverage

A significant advantage of GeckoTerminal is that it supports a wider range of blockchains and DEXs, and provides more comprehensive and in-depth information for some niche projects than other platforms. The rest of the functions are roughly the same as Birdeye, Dextool, etc.

Signal Trading of Ave.ai, Birdeye, Dextool, GeckoTerminal

These three tools are very similar in nature, and they are also key tools in the recent memecoin craze, providing the fastest solution for trading these speed-oriented memecoins.

GMGN.ai

Gmgn.ai is a platform dedicated to tracking smart money and Degen KOL transaction records, clearly showing the transaction records of profitable smart money.

Profitable Smart Money Wallet

The platform automatically tracks the most profitable smart money wallets and displays their holding records, token transaction history and other information, aiming to enable other traders to imitate transactions.

Real-time transaction records

Real-time record of smart wallet transaction performance, so that other traders can receive the first-hand information.

Degen Bot

Connect to Telegram Bot, with notification function, to know the latest token trading status.

Sniper Bot Products

Sniper Bot is an automated program set up to perform specific tasks at a predetermined time. Such products are often used to participate in online buying and selling, cryptocurrency issuance and trading, aiming to accurately capture the market. The main products and related performance of this sector can be referred to this panel on Dune Analytics.

Unibot

Users can easily issue on-chain token trading instructions through dialogue with Unibot to complete various trading activities on Uniswap. This includes token exchange, copy trading, limit orders, and privacy trading. In addition, Unibot also provides real-time Ethereum new token alert services, allowing users to easily add new tokens and quickly conduct sniper transactions.

Currently, Unibot earns income in two main ways, namely robot transaction fees and transaction taxes on the native token UNIBOT.

For the former, Unibot charges a 1% fee for each transaction, of which 40% is allocated to token holders; for the latter, all UNIBOT token transactions are subject to a 5% tax, 1% of the transaction volume is allocated to token holders, and the token holding balance must be greater than 50UNIBOT to be eligible for revenue sharing rewards.

Unibot on Solana

Unibot has recently launched a similar Telegram Bot on the Solana platform. Taking advantage of its old project, the project has the following outstanding features:

Built-in cross-chain bridge for ETH and SOL: basically merges the original Unibot on Ethereum with the one on Solana, becoming the first Bot project to support both chains.

Cooperation with Birdeye, a transaction data aggregator platform: It can seamlessly support all project transactions displayed on Birdeye. I personally think it is the ultimate function to enhance the user experience and an important turning point for UniBot to succeed in the Solana market in the future.

Unibot on Base

Given that the transaction fees of the Base public chain have been significantly reduced after the upgrade in Cancun, it has become another public chain platform where local dogs gather after Solana. As a senior Sniper Bot, Unibot's trading volume on the Base platform has also increased.

Protocol Performance

It can be seen that Base has replaced Ethereum and become the preferred public chain for trading meme coins. Its peak trading volume reached $3.88 million on March 30, accounting for more than 60% of the project revenue.

Banana Gun

Banana Gun provides two main services: trading and sniping. Through the trading function, users can safely buy tokens that have been listed on the blockchain. The sniping function enables users to be the first to buy new tokens when they are released. Banana Gun supports Ethereum, Solana, Blast, and Base. Here are some of its detailed functional interpretations:

First Bundle or Fail (FoF): Aims for the first purchase at the beginning of trading (block 0), requiring at least 10 wallets to participate to be effective. Does not apply to MEV or Deadblock releases.

FoF Backup: If the FoF function is not triggered at the time of MEV or Deadblock release, the backup function will purchase at the next available block and use the backup miner tip.

Slippage: Allows price fluctuations in a range of 0–99% on an offering with no maximum transaction limit. Setting this to 100 is equivalent to “unlimited” slippage.

Degen Mode: With this feature enabled, users can purchase transactions that act as “honeypots” to discourage bot users. If this setting is enabled, bots will ignore the security tax setting and purchase even if the token cannot be sold.

Max Transaction or Revert (MaxTx or Revert): Limit purchases to a maximum spend. If the maximum transaction amount of a token exceeds this amount, the transaction will be reverted.

Minimum (MinToken): Set a minimum number of tokens or percentage for a purchase. If the maximum spend does not meet this minimum, the transaction will fail.

Anti-Rug : Attempts to sell tokens ahead of potential scams when taxes exceed safety settings or there are signs of fraud.

Transfer on Blacklist : This feature transfers tokens to a predetermined "transfer wallet" if the user's wallet is blacklisted.

Pre-Approve : Automatically approve tokens after a pre-order purchase for faster sales.

Snipe Settings : Allows settings for the current snipe to be adjusted without affecting other pending or future snipes.

Bot Trading Fees: Trading using the bot service provided by Banana Gun incurs a fee of (1) 0.5% for manual buy trades and (2) 1% for automated sniper trades. Of all bot trading fees collected, 50% is distributed to token holders. This also provides a passive income stream for holders, incentivizing the use of the bot for trading.

Additional Cashback: Users who trade via the bot are entitled to additional cashback. The cashback amount is calculated using the following formula: Fees paid * multiplier, where the multiplier ranges from 0.05 to 1. This means that the cashback amount can be up to 100% of the fees paid, depending on the random multiplier value.

Protocol Performance

Similarly, the transaction volume of the Base chain has surpassed Solana and Ethereum, reaching a peak of $35 million on March 29.

BonkBot

BONKbot is a Telegram trading robot based on the Solana network, which allows users to trade in the easiest and fastest way. The token adopted by the project is \(BONK, which was originally released as a free airdrop to the Solana community on Christmas Day 2022. Since then, the adoption rate of \)BONK has grown exponentially, and its uses cover DeFi, games, payments and other fields. As an official partner of the $BONK community, BONKbot provides users with a range of features:

Minimum holding value: In the user's portfolio, you can set the minimum holding value displayed. Tokens below this threshold will be hidden. This feature is particularly useful when you don't want to sell certain tokens, even in the case of a failed investment (commonly known as "quilting"). Click to edit.

Auto buy: When the user pastes the token address, the system will immediately execute the buy operation, eliminating the confirmation step.

Button configuration: Users can customize the buy and sell buttons on the dashboard. When buying or selling tokens, just click on each button to edit.

Slippage configuration: You can customize the slippage settings for buying and selling. Slippage is the difference between the transaction price and the execution price. Proper configuration can help you better control transaction costs. Click to edit.

MEV Protection: BONKbot, in partnership with Jito Labs, provides users with advanced MEV protection, which speeds up transactions by default and protects against front-end attacks. MEV protection offers two modes for users to choose from:

• Turbo Mode: In this mode, transactions are sent through Jito to ensure front-end protection at the fastest speed. If the normal transmission speed is faster, the transaction will not initiate MEV protection.

• Secure Mode: This mode guarantees transaction protection in all cases, even if it means that the transaction speed may be slowed down. Users can speed up transactions by increasing the bribe amount.

When enabling the MEV protection feature, users can choose the above mode and decide the priority of the transaction: medium, high or very high. For advanced users who need more granular control, BONKBot also provides the option to customize the priority of transactions.

SolTrading Bot

SolTradingBot is another copycat similar to BONKBot. It also roughly adopts the gameplay of Telegram Bot, but it has some more special features, such as:

DEX Integration:

Integration with major DEXs: SolTradingBot has integrated with Jupiter, Orca, and Raydium, which are the leading decentralized exchanges of Solana.

Enhanced liquidity access: Users can access the extensive liquidity pools of these DEXs to efficiently execute transactions at the best price.

Diversified token opportunities: Provide a wide range of trading options from mature cryptocurrencies to emerging projects.

Multi-DEX strategy: Enable users to take advantage of the unique advantages of each DEX platform and optimize transactions.

BTCBot.pro

Solona and ETH use the account model, while BTC uses the UTXO model. This difference in the underlying data structure leads to huge differences in their related assets and ecosystems. In this section, we focus on the functional innovation of BTCBot.pro and its possible impact on users and the industry.

BTCBot.pro is a Telegram Sniper Bot product for the BTC ecosystem. The product was launched on December 23, 2023. It is currently focused on inscription and trading of BRC-20 tokens, and has launched some practical functions to solve the current problems facing the BTC field.

Due to the great differences between the BTC ecosystem and the ETH EVM and Solana ecosystems, their overall design logic is also very different. The BRC20 field is currently divided into the primary market and the secondary market. The primary market is different from the primary market in the usual sense. The primary market of the BTC ecosystem refers to the issuance of BRC20 tokens, and the secondary market refers to the trading of BRC20.

BRC20 sell order function

BRC20 tokens need to be minted before being listed on OKX or Unisat and other trading platforms for sale. For example, if you want to sell 2000 \(abcd (a certain BRC20 token), you need to first convert 2000 \)abcd into an inscription, then set a price for this inscription, and post it to the trading platform waiting for the order to be eaten. There is no handling fee for placing a limit sell order. The user only needs to pay the gas fee for minting.

On BTCBot.pro, when users use the "limit sell" function, they can place orders on Unisat, OKX and other platforms at the same time without adding any cost. The same inscription and two orders will increase the probability of the sell order being executed.

BRC20 limit buy order function

This is the first time that the limit buy order function has been proposed in the BRC20 field. Its buy order function has the following four features:

Zero cost

After setting the price and purchase amount, the user can modify or cancel the limit buy order at any time, without any gas fee. Like the sell order function, the buy order function is also applicable to Unisat, OKX and other trading markets. Currently, the Unisat buy order function has been launched.

Slippage control

When the price of a token falls back to the buy order range set by the user, the transaction will be triggered. However, the BTC Gas Fee at the time of the order transaction will affect the comprehensive price of the token. For example, if the number of tokens in a certain order is 100, and each price is 1 USD, but the transaction currently requires a gas fee of 9 USD, BTCBot.pro will automatically calculate the comprehensive cost as: (100+9) ÷100=1.09 USD, at this time, the transaction slippage is 9%. If the user's slippage is set to 10%, then this sell order will be triggered to be automatically traded; if the user sets it to 5%, it will not be triggered to trade, which can avoid the increase in the comprehensive cost of token purchase. The more tokens there are in a certain order, the smaller the transaction slippage.

The "slippage setting" mentioned here is unique to the BTC ecosystem, and is different from the slippage of users in Uniswap, which uses the AMM mechanism. Because under the AMM mechanism, the slippage is affected by the size of the Liquidity Pool, while the current BRC20 field affects the slippage by the BTC transaction Gas Fee. Through the slippage setting, users can filter out the orders they really need and effectively control the comprehensive cost.

Market Management

Most of the current BRC20 trading platforms cannot use the limit buy order function, so market makers or project parties and other institutional participants cannot manage the market well, and can only manage it with market orders. This has greatly affected the activity and depth of transactions. The limit buy order function can solve this problem. Project parties or market makers can manage the market in BTCBot.

Automatic Matching

In BTCBot.pro, you can see how many limit buy orders there are at present. Coin holders (sellers) can observe the thickness of the order and choose at what price to sell, while buyers can get lower-cost chips by bidding (similar to Bid). In BTCBot.pro, buyers and sellers can automatically match transactions.

The evolution of cryptocurrency trading tools: technological innovation and user experience optimization driven by market demand

In terms of product features and trends in signal trading and on-chain data analysis, we noticed the following key points:

• Increased demand for instant and in-depth information: With the dynamic changes in the market, investors' demand for instant and comprehensive market information has increased significantly. For example, RootData and ICODrops provide real-time updates on financing and ICO situations to help investors grasp the latest developments in the primary market.

• Diversified analysis tools: There are a variety of analysis tools on the market, covering everything from financing information in the primary market to sentiment analysis and trading opportunities in the secondary market. For example, Arkham provides visual tracking of on-chain data, while Santiment integrates search keywords on the Internet through AI technology to reflect market hotspots.

• User-friendly interface and ease of operation: Product design tends to be easy to operate without a deep technical background, such as PinkSale's token launch platform, where users can design and launch their own tokens with just a few clicks. This design trend makes it easy for a wider range of users to access and utilize these tools.

• Integration and interoperability: Many tools are moving towards wider integration and platform interoperability. For example, MetaDock aggregates multiple blockchain browsers to simplify users' query steps; while Unibot's cross-chain bridge function supports Ethereum and Solana interoperability.

• Insights into trading strategies and opportunities: Tools not only provide data, but also insights that can guide investment decisions. For example, by analyzing the flow of funds from institutional wallets, RootData and Arkham help users gain insight into market strategies and trading opportunities.

• Improved security and transparency: As investors' requirements for security and transparency increase, more and more platforms are beginning to emphasize these features. For example, Ave.ai displays the audit of smart contracts in the project overview to ensure security.

• Automation and robotic functions: Market trends show that automated and robotic trading functions are becoming more and more popular. These functions not only improve trading efficiency, but also respond quickly to market changes, such as the sniping and trading functions provided by Sniper Bot and Banana Gun.

To sum up, these product features show that the market demand for efficient, real-time, user-friendly and highly integrated trading and analysis tools is growing. In addition, we have also summarized several deep-level trend changes in the cryptocurrency field based on this. We can analyze in depth from the following aspects:

Accelerated market information flow and transparency requirements: The dynamics and complexity of the market require investors to be able to receive and process information quickly. The popularity of real-time update functions reflects the extremely high demand for speed and timeliness among market participants. For example, the real-time data update function of tools such as RootData and ICODrops means that the market's demand for transparency and timely information continues to grow.

Behind this demand is the pursuit of market participants to avoid information asymmetry and improve the efficiency of trading decisions. The instability and high volatility of the crypto market make timely access to information essential.

1. Parallel advancement of decentralization and integration:

With the development of multi-chain and cross-chain technologies, the market's demand for integrated tools has increased, and users expect to manage multi-chain assets and transactions through a single platform. For example, the cross-chain operation function provided by Unibot and MetaDock reflects the market's high demand for operational convenience and resource integration.

This trend shows that while decentralization is the core feature of blockchain, user experience and feature integration are still key factors in promoting technology adoption.

1. User Interface and Simplification of Operation:

The diversification of investors and user groups has driven the demand for simplified operation interfaces. Platforms like PinkSale allow users without a deep technical background to participate in token creation and pre-sales, indicating that the market is moving towards a more popular and democratized direction.

Behind this change is the popularization of technology and the improvement of education level, which enables non-technical users to participate in previously complex crypto-economic activities.

1. Security and Trust Building:

As the crypto market expands, security issues are becoming increasingly prominent. More platforms are beginning to emphasize security audits and transparency of smart contracts, such as Ave.ai's security demonstration. This shows that the market is trending towards building a higher level of trust and security assurance.

The driving force behind this trend is the multiple security incidents and capital losses in the previous market, which prompted industry participants and users to pay more attention to security measures.

1. Wide Application of Intelligence and Automation:

The popularity of automated tools such as Sniper Bot and robotic trading functions shows the market's demand for high efficiency and responsiveness. Automated tools can respond quickly in a rapidly changing market, which is essential to taking advantage of market opportunities.

Behind this trend is the advancement of technology, especially the application of artificial intelligence and machine learning in trading strategies, which improves the success rate and efficiency of transactions.

In summary, the changes in these underlying trends reflect the maturity of the cryptocurrency market, and also point out the dynamic balance between technological development, market demand and user experience.