Polymarket is a decentralized platform that allows users to wager on a wide variety of events, including sports, entertainment, cryptocurrency prices, and political election results.
In this article, we’ll break down how the platform operates, and how Polymarket makes money. We will also provide a step-by-step guide to placing bets on the platform and take a closer look at whether the platform is legitimate and trustworthy.
Key highlights:
Polymarket is a decentralized platform that leverages blockchain technology for betting on a wide range of events.
Users can trade shares of their predictions, with prices fluctuating according to market demand, enabling bettors to profit even before the event concludes.
Currently, Polymarket doesn’t charge platform fees, but this is likely going to change in the near future.
The platform is legitimate, but you should avoid events with poorly defined outcomes.
How does Polymarket work?
Polymarket users can browse numerous prediction markets and buy shares representing their predictions. If you think a particular outcome will happen, you buy shares for that outcome (named “Yes”).
If you think the event won’t happen, you buy shares for the opposing outcome (named “No”). Markets can be simple with a binary outcome (Yes/No, for example: “What price will Bitcoin hit in 2026?”) or more than just two possible outcomes (the classic example being “Who will win the 2028 U.S. Presidential Election?” as there are more than two possible outcomes).
Needless to say, you can buy as many shares (or a combination of shares) as you want, including portions of shares.
Currently, more than $730 million worth of bets have been placed on the winner of the 2024 U.S. presidential election. The outcomes are sorted based on the chance assigned to each outcome by the market.
After the event occurs, the outcome is verified by trusted oracles, which are services or entities that provide accurate information to the blockchain. Once the market is resolved, users holding shares of the correct outcome will receive payouts proportional to the number of shares they hold ($1 per share). Those who hold incorrect shares will lose their investment in that market as shares of the wrong outcome become worth $0.
It is worth noting that the prices of shares fluctuate based on the demand for each outcome. If more people believe an outcome is likely, the price of shares for that outcome will rise. This creates a dynamic market where users can trade shares, potentially making profits before the event is even resolved – similar to selling your betting position to the bookie before a sports event is finished.
Users can propose new markets on specific questions on their own, such as “Will [Team X] win the Superbowl 2025?” or “Will the price of Bitcoin exceed $70,000 by a certain date?” These markets are then created using smart contracts on the blockchain, which ensures transparency and fairness.
A step-by-step guide to using Polymarket
Now, let’s take a practical example at how you can place a bet on Polymarket.
1. Sign-up to Polymarket
To place a bet, users need to have funds in the form of the USDC (USD Coin) stablecoin. Users can either register with an e-mail and then deposit crypto/buy the stablecoin using a credit card or interacting with Polymarket directly with the use of an already topped-up cryptocurrency wallet (currently supported wallets include Metamask, Coinbase, and WalletConnect).
2. Top-up your account
While buying USDC with a credit card directly on Polymarket is the simplest option, it is also the most expensive, because a fee will be charged by Moonpay, which operates the Polymarket’s integrated on-ramp. We therefore recommend depositing USDC from a cryptocurrency wallet (make sure you make the transaction through the Polygon network!) or even better, interact with Polymarket directly through a cryptocurrency wallet.
3. Pick a prediction market
Proceed to pick the event you want to bet on and decide on your prediction. Polymarket categorizes its events into “Politics”, “Crypto”, “Pop Culture”, “Sports”, “Business”, and “Science”. As you open and bet on events, Polymarket will also create a curated personalized category called “For You”.
Sell outcome shares and wait for the event to resolve
When you own the shares for an outcome, it is up to you whether you want to sell them before the event itself or wait for the event to resolve.
How does Polymarket make money?
As of now, Polymarket does not charge any platform fees. However, users will still incur a small transaction fee for each trade due to blockchain validators requiring payment for transaction processing. The company is currently supported by venture capital funding and potentially through liquidity provision and market-making services. It is likely that Polymarket will introduce fees in the future to generate revenue.
“We’re focused on growing the marketplace right now and providing the best user experience. Monetization will come later,” Polymarket Founder Shayne Coplan disclosed in a recent interview with Forbes.
Is Polymarket legit?
Yes, Polymarket is a legitimate business. The platform has been offering its services to bettors since 2020, and the team of developers stands behind their product with their real identity and reputation. Furthermore, Polymarket is built on a decentralized blockchain, and the entire process is governed by smart contracts. This ensures that the platform operates transparently and without the need for a central authority.
While Polymarket aims to comply with regulations, it does operate in the decentralized finance (DeFi) space, which is often subjected to regulatory crackdowns. Therefore, it is no surprise that Polymarket does not hold a spotless record either. The firm was involved in a massive controversy and was fined $1.4 million by the U.S. Commodity Futures Trading Commission (CFTC).
The CFTC alleged that Polymarket was offering event-based binary options contracts without proper registration as a designated contract market (DCM) or swap execution facility (SEF). As part of the settlement, Polymarket agreed to cease providing its services to customers in the U.S.
What to watch out for when using Polymarket?
While Polymarket is a credible platform, the quality of its markets can vary significantly. There have been several heated debates and fierce disputes over what is the truly correct outcome of an event. This usually happens with events, which have poorly defined outcomes.
To avoid disputes over the validity of outcomes, it is advised to only participate in markets with clearly outlined criteria for determining outcomes. It is also always advisable to practice good password hygiene and avoid holding large amounts of crypto in online custodial wallets.
The bottom line
Polymarket leverages the power of blockchain technology to create a transparent, user-driven prediction market where anyone can participate and potentially profit from their insights on real-world events. While the platform is legitimate, it has faced regulatory challenges like many other cryptocurrency platforms. To minimize issues, focus on markets with clearly defined outcomes and ensure good security practices.
The “Insufficient Liquidity For This Trade” issue is a relatively common occurrence on Decentralized Exchange, such as Uniswap, Pancakeswap or Sushiswap.
When you encounter this error, it’s likely due to the pool’s limited capacity to facilitate your trade, due to, well, as the name says, not enough liquidity. You’ll need to take a closer look at your trade size and consider a few different ways of solving this issue. We’ll go into this in more detail in this article.
Key Takeaways
Reduce trade size to mitigate liquidity impact and increase the likelihood of a successful transaction on Uniswap
Increase slippage tolerance (up to 12% typically) to accommodate price fluctuations during trades with low liquidity tokens
Verify the token being traded to prevent liquidity mismatches and ensure compatibility with Uniswap’s liquidity pools
Explore alternative DEXes, such as SushiSwap and PancakeSwap, which may offer better liquidity for the desired trade
How AMMs (like Uniswap) work
At the core of Uniswap’s functionality lies the Automated Market Maker (AMM) model, which relies on liquidity pools to facilitate seamless token trading. When you interact with Uniswap (which has a native token, UNI), you’re essentially tapping into these pools, which contain pairs of tokens, such as ETH and USDC.
The AMM determines prices algorithmically based on the ratio of the tokens within the pool, following the constant product formula (x * y = k). This approach is at the core of decentralization because it allows for decentralized trading without traditional order books.
As you dive deeper into the matter, you realize that the depth, or size of the liquidity pool is a vital component. If you attempt to execute a trade that exceeds the pool’s capacity, it will lead to transaction failures.
In such cases, you may encounter errors like “Insufficient Liquidity For This Trade.” Uniswap’s design also allows users to actively contribute to liquidity pools and earn fees from trades executed within the pool. This is called liquidity mining, and it incentivizes participation, which improves liquidity and reduces the likelihood of such errors.
How to Fix “Insufficient Liquidity For This Trade” on Uniswap
When you encounter the “Insufficient Liquidity For This Trade” error on Uniswap, you can take a few steps to resolve the issue.
You can try reducing the trade size to minimize the impact on the liquidity pool, or increase the slippage tolerance setting to give the trade more flexibility.
Additionally, double-check that you’re trading the correct token and consider checking the token’s liquidity on other decentralized exchanges to explore alternative options.
Reduce the trade size
Reducing your trade size is the most straightforward solution to bypass the “Insufficient Liquidity For This Trade” error on Uniswap. By decreasing the amount you’re trying to swap, you lower the impact on the liquidity pool, making it more likely for your transaction to be executed successfully.
It’s simple math. If A must be less than B for a successful transaction, where A is your trade size and B is liquidity pool size, reducing the size of A is a very straightforward and logical solution.
Assess the current liquidity of a trading pair before executing transactions to be able to identify an appropriate trade size that aligns with the pool’s capacity. Reducing trade size helps decrease the likelihood of a failure due to liquidity shortages, but it also reduces potential losses from slippage during execution.
You may need to continually make adjustments to trade sizes based on fluctuations in market conditions and liquidity availability. If something worked today, it doesn’t mean it’ll work tomorrow, and vice versa. Regularly review market conditions and adjust your trade sizes accordingly.
Increase slippage tolerance setting
Your Uniswap transaction’s success may depend on a simple (but important) setting: the slippage tolerance. When you encounter the “Insufficient Liquidity For This Trade” error, consider adjusting this setting.
To do so, access your wallet, connect it to Uniswap, and select the tokens you wish to swap. Then, navigate to the transaction settings and adjust the slippage tolerance.
The default slippage tolerance is automatically set at 0.5% by Uniswap (or 0.1% in Uniswap V3), which means your trade will only get executed if the actual price is within 99.5% or 99.9% of the price you saw on your browser.
If you manually raise the slippage tolerance, you allow the transaction to execute even if the token price changes more significantly during the trade process due to low liquidity.
For transactions involving lower liquidity tokens, a slippage tolerance setting of 5% to 12% is often recommended. After making the adjustment, confirm the settings and proceed with the transaction.
Increasing the slippage tolerance can significantly reduce the chances of encountering “Insufficient Liquidity for This Trade” errors, as it provides a sort of buffer for price fluctuations.
Make sure you’re trading the correct token
This one may seem obvious, but this is crypto, and there can be lots of coins with a similar or even the same name as the coin you want to trade. Make sure that you’re trading the correct token. Double-check the token’s contract address, as a small error can result in trading a different token with low liquidity.
Also, be aware of token migrations or updates, as a token may have moved from one liquidity pool to another, affecting its available liquidity.
Of course, you should also confirm that the token you’re trading is supported by Uniswap.
Check the token’s liquidity on other DEXes
When Uniswap’s liquidity is insufficient for your trade, a quick scan of other decentralized exchanges (DEXes) can provide a viable alternative. You can check liquidity metrics on platforms like SushiSwap, TraderJoe or PancakeSwap, as they may offer better trading conditions for the same token pair.
Utilize tools like CoinGecko or CoinMarketCap to assess liquidity depth across various exchanges, helping you identify which DEX has the highest liquidity for your desired trade.
You should also examine the token’s liquidity pools on DEX aggregators like 1inch, which aggregate prices and routes from multiple platforms for optimal trading opportunities.
Also, you can check the trading volume for the token on other DEXes, as higher trading volume often correlates with better liquidity.
The bottom line
You’ve now got the tools to tackle the “Insufficient Liquidity For This Trade” error on Uniswap and other AMMs.
You should now understand how AMMs work and be able to apply the fixes – reducing trade size, increasing slippage tolerance, verifying token addresses, and exploring alternative DEXes.
FAQs
How to fix “Insufficient Liquidity For This Trade”?
To fix the “Insufficient Liquidity For This Trade” error on Uniswap or similar DEXes, you can:
Reduce Trade Size: Lower the amount you’re trying to swap to lessen the impact on the liquidity pool.
Increase Slippage Tolerance: Adjust the slippage tolerance setting to accommodate potential price changes during the transaction.
Verify the Token: Make sure that you’re trading the correct token by checking its contract address.
Explore Alternative DEXes: If Uniswap’s liquidity is insufficient, consider using other decentralized exchanges like SushiSwap, PancakeSwap, or 1inch.
What is lack of liquidity in trading?
Lack of liquidity in trading refers to a situation where there aren’t enough assets available in a market to fulfill the demand for trades at stable prices. In decentralized exchanges like Uniswap, this can occur when the liquidity pools are too small to handle large transactions. This leads to issues like the “Insufficient Liquidity For This Trade” error.
What causes lack of liquidity?
Lack of liquidity is typically caused by a small or insufficiently funded liquidity pool, where the ratio of assets within the pool cannot support larger trades.
If you’re encountering a “Swap Failed” error on Uniswap, there are several reasons this might happen. The most common reasons are your slippage settings and not enough funds.
In this article, we will go over the steps that you can take that are likely to solve 99.99% of “Swap Failed” issues on Uniswap.
Key Takeaways
Adjust slippage tolerance settings to ensure successful trade execution and minimize losses
Verify wallet balance and be sure you have enough ETH or another chain crypto for gas fees and a sufficient token amount for the swap
Extend transaction deadlines beyond the default 30 minutes to accommodate network fluctuations
Monitor network congestion to set appropriate deadlines and fees for timely transactions
Retry failed transactions after checking and adjusting gas fee and deadline settings
Adjusting Slippage Tolerance Settings
Uniswap – which uses the UNI token for governance and fee payments – is the largest and most used Decentralized Exchanges (DEXes) in crypto, and one of the necessary aspects of navigating Uniswap transactions is managing slippage tolerance settings. These parameters directly influence the success of your swaps.
The default slippage tolerance on Uniswap is set at 0.5% (and 0.1% for Uniswap V3), which might be too low to be sufficient for tokens with transaction fees.
To avoid failed swaps, try adjusting your slippage tolerance settings. You can adjust the slippage tolerance by clicking the gearbox icon on the Uniswap interface and selecting the “Custom” option. Here, you can input a custom maximum slippage percentage.
For tokens with significant sell fees, you might need to increase the slippage tolerance to at least 1%, and in volatile markets, settings closer to 10%-12% may be necessary. Increase the slippage tolerance incrementally in small percentages to mitigate risks while avoiding excessive price deviations. For example, if 0.5% is too low, don’t immediately go 5%. Start increasing it gradually, first to 1%, then 1.5% and so on.
This approach helps you get a successful trade execution while minimizing potential losses.
Insufficient Tokens or ETH
If your slippage tolerance settings are in order, the next step is to make sure you have sufficient tokens and ETH (assuming you’re using Ethereum blockchain) to execute the transaction. Check your wallet balance to ensure you have enough ETH to cover the transaction fees.
Of course, if you’re using a different chain, you may need to pay gas fees in a different cryptocurrency. For example, for the BNB Chain you need BNB, for Avalanche you need AVAX, and so on.
Each transaction on Uniswap requires enough crypto to cover gas fees, which may fluctuate based on network congestion. Always verify the current gas prices before initiating a swap to avoid timeouts and enhance transaction success.
Also, confirm that you have the required amount of tokens you intend to swap. Attempting to swap more than your available balance will, of course, give back an error.
If trading a token that has a fee on transfer, make sure to account for that fee in your swap calculation to avoid trading an insufficient amount. Keeping an eye on both token balances and gas fee reserves is necessary, as a lack of either can halt a transaction and result in a swap failure.
Transaction Timeout Issues
Transaction timeout issues on Uniswap can be frustrating, especially when you’re eager to complete a swap. A timeout occurs if the process exceeds 30 minutes, and this will result in an automatic failure of the swap.
To mitigate this, you should adjust the transaction deadline settings to allow for longer processing times during high network congestion.
Here are key points to consider:
Timeout duration: Uniswap transactions automatically fail if they take more than 30 minutes to complete.
Adjust transaction deadline: Increase the transaction deadline settings to give your transaction more time to process.
Increase gas price: Low network fee settings can cause delays. If you increase the gas price, it may help execute transactions promptly.
Monitor network congestion: Keep an eye on network congestion during peak times to time your transactions better and avoid timeouts.
Retry after adjustments: If a transaction fails due to timeout, retry after checking and adjusting your gas fee settings.
Other Uniswap Error Types
The K error indicates a Uniswap liquidity pool imbalance, i.e., you attempted a trade which, if executed, would leave the liquidity pool with fewer reserves than expected by the Uniswap protocol. If that happens, the transaction is automatically reverted and won’t go through.
The INSUFFICIENT_A_AMOUNT and INSUFFICIENT_B_AMOUNT errors occur when there are insufficient input tokens or output amounts for the swap. The TRANSFER_FAILED error typically indicates issues with token contracts or when the transfer function is disabled for the token being traded.
Other errors include EXPIRED, which occurs when transactions take longer than the designated 30-minute deadline, often due to low network fees or high congestion.
The bottom line
To fix a “Swap Failed” error on Uniswap, you should first check your wallet balance to ensure you have enough tokens and transaction fees. Then, adjust your slippage tolerance, especially for volatile tokens, to at least 1% or more if necessary. These two alone should fix the issue 99% of the time.
Extend the transaction deadline beyond the default 30 minutes and consider increasing the gas price to expedite processing. Lastly, make sure that your token contract approvals are in place. To avoid paying too much fees, you can consider using cryptocurrencies that are cheap to transfer.
FAQs
Why is my swap failing on Uniswap?
A swap on Uniswap may fail due to several reasons. The most common ones include incorrect slippage tolerance settings, insufficient funds to cover the transaction, or network congestion. Another common cause is an imbalance in the liquidity pool for the tokens you’re trying to trade, which can trigger the transaction to be reverted.
What happens if a swap fails?
If a swap fails on Uniswap, the transaction will not go through, and your tokens will remain in your wallet. The network will still deduct a small gas fee for attempting the transaction, but the swap itself will not be executed, meaning no tokens are transferred or exchanged.
How to fix slippage in Uniswap?
To fix slippage issues in Uniswap, you can adjust the slippage tolerance settings in the swap interface. You can do this by clicking the gearbox icon and selecting “Custom” to input a new slippage percentage. If your transaction fails due to slippage, gradually increase the slippage tolerance from the default 0.5% (or 0.1% in Uniswap V3) to a higher percentage until the transaction succeeds. Be cautious not to set it too high to avoid significant price deviations.
To find new meme coins early, you need a strategic approach. Start by using crypto market aggregators like CoinCheckup to identify trending cryptocurrencies. These platforms provide insights into both popular and undervalued coins, so it’ll help you spot potential opportunities before others do.
Monitoring on-chain activity through tools like Etherscan and Dune Analytics will give you deeper insights into holder distributions and transaction patterns. Engaging with crypto communities on social media platforms such as X (Twitter) and Discord will also uncover emerging discussions. Also, it’s a good idea to track whales and smart money addresses to further improve your chances of finding lucrative meme coins ahead of the game.
Key takeaways
Use CoinCheckup to spot trending and undervalued meme coins through its technical indicators and community monitoring.
Analyze on-chain activity using Etherscan, DexTools, DeBank, and Dune Analytics for insights into wallet interactions and trading volumes.
Monitor social media platforms like X (Twitter), Reddit, and Telegram for emerging trends and influencer announcements.
Follow notable crypto investors and whale addresses on platforms like Nansen and Whale Alert to identify promising projects.
Engage with communities on forums and chat groups to gauge community interest and differentiation between organic and artificial hype.
Use CoinCheckup to find meme coins with potential
To find new meme coins with potential, CoinCheckup can be a good starting point as a thorough crypto market aggregator. It features a trending cryptocurrencies section that highlights popular meme coins with low market capitalizations, which indicates potential growth opportunities. This section is ideal for identifying emerging trends and coins that could be the next Shiba Inu.
For more insights, explore the undervalued cryptos section on CoinCodex. This area uses technical indicators like the Relative Strength Index (RSI) to identify meme coins with strong investment potential. This allows you to spot undervalued meme coins that might be ready for an upswing.
Additionally, you have access to exhaustive historical data and price tracking. Here, you can analyze trends over time. CoinCheckup also has a page dedicated to meme coins, which can serve as a nice overview of the broader meme coin market.
The platform also features a prediction section that evaluates key technical indicators, such as moving averages and the MACD, to assess the momentum of coins.
Track activity on the blockchain
Track activity on the blockchain using tools like Etherscan, DexTools, DeBank, DexCheck, and Dune Analytics to monitor transactions, liquidity, and investor sentiment.
Regularly check these platforms to identify trends and patterns that might signal emerging meme coins. These tools help you visualize transaction flows and trading volumes in real-time.
Etherscan
Etherscan is the most popular Ethereum block explorer in the world, and for good reason. It provides a truly comprehensive overview of all the activity on the Ethereum blockchain and can provide extremely useful information when used correctly.
Using Etherscan, you can explore the on-chain activity for Ethereum-based tokens and gain valuable insights into transactions, wallet holders, and token transfers.
This platform allows you to analyze the number of wallets holding a specific token, which can gauge its popularity and potential investor interest.
Use Etherscan to check the activity of the token’s biggest holders or wallets belonging to the project’s team. If they are selling, it’s probably not the best idea to buy the meme coin you’re analyzing.
Additionally, Etherscan’s token tracking feature displays real-time data on price, volume, and market capitalization for ERC-20 tokens.
By the way, if you’re trying to analyze a meme coin that’s not on the Ethereum blockchain, there are also plenty of other tools available on the market. For example, BSCScan is a good explorer for BNB Chain, and Solscan is a strong option if you’re looking to check activity on the Solana blockchain.
Key features:
Token tracker: Allows users to track the price, volume, and market cap of any ERC-20 token, which is the most popular token standard among meme coins.
Transaction tracking: Lets users track the status of any Ethereum transaction, as well as view detailed information about the transaction. This can be useful to see if shady things are going on with a new meme coin.
Smart contract analysis: Etherscan allows users to view the source code of any Ethereum smart contract and track all transactions and events associated with the contract. This can provide valuable insight into any potential security risks.
Account balance and token holdings: Allows users to view the ETH balance and token holdings of any Ethereum address. This can be helpful for users to track their own assets and to identify any suspicious activity.
DexTools
DexTools, another powerful tool for monitoring blockchain activity, offers real-time data on trading pairs and price movements.
This tool allows you to monitor activity on decentralized exchanges effectively. It lets you analyze token trends using charting tools that display historical price movements and trading volumes. This means that you can identify coins that are gaining popularity.
DexTools also offers whale tracking features, which enables you to observe large transactions and wallet activities. These insights can indicate potential price movements for specific memecoins. Custom alerts and notifications can be set up to keep you informed of significant price changes or market activities related to new memecoins.
Additionally, filters allow you to search for tokens based on specific criteria like liquidity and launch date. This is great for identifying promising new projects in a crowded market, for instance.
Utilizing DexTools will help you track memecoin activity and identify emerging trends, providing essential insights to navigate the dynamic world of meme coins effectively.
Key features:
Real-time market data: DEXTools provides real-time market data for a wide range of DEXs and tokens, including price, volume, and liquidity. This data can be used to make informed trading decisions, especially when trading meme coins.
Charting tools: It offers a variety of charting tools, including candlestick charts, line charts, and OHLC charts. These tools can be used to analyze market trends and identify trading opportunities.
Whale tracking: Allows users to track the activity of large wallets, also known as whales. This information can be used to identify potential market movements and to avoid getting caught in pump-and-dump schemes.
Alerts and notifications: DEXTools allows users to set alerts and notifications for specific events, such as price movements, liquidations, and token swaps.
DeBank
DeBank is a platform that provides a DeFi portfolio tracker. You can use it to check which tokens a particular blockchain address is holding and all of its transactions. If you’re wondering how to find new coins early, meme coins included, one of the best ways of doing so is tracking the activity of “smart money” addresses that have made highly profitable moves in the past.
For example, it might be worth it to check meme coins that have displayed big price increases in the past, and find addresses that bought them early. You can check these addresses on DeBank to see if they are buying any new meme coins.
Learning about the moves made by the most profitable traders is one of the best ways to increase your chances of succeeding in the market.
Key features:
DeFi dashboard: DeBank offers a comprehensive DeFi dashboard that provides users with a real-time overview of their crypto assets, including token balances, staking positions, and more.
Web3 messenger: Lets users directly communicate with any 0x address, enabling seamless engagement within the Web3 ecosystem.
Bundle tracking: DeBank allows users to track multiple addresses in a bundle, which is useful for traders and investors who want to track the performance of different portfolios.
Alerts and notifications: Allows users to set alerts and notifications for specific events, such as price movements, liquidations, or token swaps.
DexCheck
DexCheck aggregates data from multiple decentralized exchanges, which allows you to track meme coin activity across various blockchains such as Ethereum and BNB Chain. This is very useful, since meme coins are usually launched on decentralized exchanges initially.
You can get a thorough overview of market trends and identify top gainers among meme coins. It gives you a chance to spot potential opportunities based on recent performance metrics.
With DexCheck, you can monitor whale transactions with their whale tracker to assess market sentiment and predict potential price movements for newer meme coins.
The platform offers detailed token research, including real-time updates on trading volume and liquidity, which is essential for understanding market stability before making investment decisions.
The user-friendly interface allows you to quickly navigate through trending tokens, enhancing your ability to find and analyze emerging memecoins as they gain traction.
Key features:
Token research and due diligence: DexCheck offers comprehensive token research and due diligence capabilities, providing users with access to detailed information on tokens, including their background, technology, team, and market performance.
AI-powered insights: The platform leverages artificial intelligence (AI) to provide users with valuable insights into the crypto market.
Smart money tracking: Allows users to track the activity of large wallets, also known as smart money. This information can be used to identify potential market movements and to follow the trades of successful investors.
Dune Analytics
The Dune Analytics platform allows you to visualize on-chain data, so you’re able to track changes in transaction volumes and wallet activities. You can create custom queries and analyze specific token activities, which makes it easier to monitor emerging projects and market trends.
The various chart types provide real-time insights into significant market movements related to meme coins. Community-driven content on Dune Analytics facilitates the sharing of dashboards and queries, enhancing collaborative tracking of meme coin activities.
Monitoring on-chain activity through Dune Analytics helps identify early investor behavior and potential red flags associated with newly launched meme coins. This data can guide your investment decisions by highlighting trends and market signals early on.
Key features:
User-friendly interface: Dune Analytics has a user-friendly interface that makes it easy to get started, even if you are not familiar with SQL or blockchain technology.
Comprehensive data: Provides access to a comprehensive set of blockchain data, including on-chain transactions, smart contract events, and token transfers.
Community-driven content: The platform has a large and active community of users who contribute to the platform by creating and sharing queries, dashboards, and other content.
Solscan
In a way, Solscan is to Solana what Etherscan is to Ethereum. This blockchain explorer provides real-time transaction data, token transfers, and wallet activities. You are able to monitor and analyze trends within the Solana ecosystem.
Solscan is particularly interesting because, lately, many new meme coins are actually being launched on Solana, such as Dogwifhat and Bonk. Also, Solana token itself is doing quite well in this run, which is good news for everything else that’s on Solana, meme coins included.
Solscan offers extensive analytics on newly launched tokens, helping you quickly identify trending meme coins and assess their market performance. Leaderboards rank tokens by market capitalization and trading volume, offering insights into the most popular or rapidly growing meme coins.
You can access detailed transaction histories for individual tokens, monitoring buying and selling patterns. This feature helps you identify potential investment opportunities by tracking activity that may suggest early traction or significant market interest.
Apart from the regular functionality you would expect from a blockchain explorer, Solscan also supports monitoring of decentralized finance (DeFi) projects and NFTs. This gives you a broad view of the evolving landscape surrounding meme coins within the Solana network.
Key features:
User-friendly: The platform’s design is focused on graphical elements and data visualization with many charts, which makes the data easier to understand and trends easier to identify.
DeFi and NFT Dashboards: In-depth data on the non-fungible token collections and DeFi protocols on Solana allows users to monitor engagement for various dApps.
Blockchain analytics: Data like transaction speed, number of token holders, and more allows users to form a comprehensive view of the Solana ecosystem.
BscScan
BscScan is your best bet if you’re looking for meme coins on the BNB Chain. Similar to other blockchain explorers, BscScan features a token tracker, so you can monitor the performance of any BEP-20 token, including meme coins. It provides real-time data on price, trading volume, market cap, and the number of holders, which are essential for gauging investor interest.
BscScan also offers transaction tracking, letting users monitor any transaction on the BNB Chain, including timestamps and gas fees. This helps in spotting suspicious activity associated with new meme coins.
Also, the platform’s wallet analysis feature provides insights into BNB Chain wallets, revealing balance, token holdings, and transaction history.
Key Features:
Token Tracker: BSCScan allows users to track real-time data on price, volume, market cap, and the number of holders for any BEP-20 token, including meme coins. This is essential for assessing the popularity and investor interest in new meme coins.
Transaction Tracking: Users can monitor any transaction on the BNB Chain, including details like timestamps and gas fees, helping to identify suspicious activities related to new meme coins.
Wallet Analysis: BSCScan provides insights into BNB Chain wallets, including balances, token holdings, and transaction history, enabling users to understand market dynamics and the intentions of large holders.
Smart Contract Analysis: Users can view the source code and track transactions associated with any BNB Chain smart contract, crucial for assessing the security and reliability of a meme coin’s infrastructure.
New Token Analytics: BSCScan offers leaderboards that rank newly launched tokens by market cap and trading volume, helping users quickly identify trending meme coins and evaluate their performance.
Monitor crypto communities on social media
Engage with crypto communities on platforms like X (Twitter), Telegram, and Discord to hear news about trending meme coins, as discussions often precede significant price movements
Follow influential crypto accounts and make lists of trusted voices that can provide timely information about new memecoins
Use relevant hashtags such as “memecoin” in social media searches to uncover viral trends and emerging projects gaining traction among investors
Participate in discussions and monitor community sentiments to help you differentiate genuine meme coin trends from artificial hype driven by bots or low-quality projects
Regularly check the activity and engagement levels within these communities
This proactive approach is necessary if you want to be able to spot emerging meme coins before they explode into popularity.
Track whales and smart money addresses
Engaging with online crypto communities is just the beginning. To find new meme coins early, you need to track whales and smart money addresses.
Large cryptocurrency holders, known as whales, often signal emerging opportunities through their buying activity. Keep an eye on their transactions. Sudden increases in volume can indicate growing interest in specific meme coins.
Smart money addresses, typically belonging to experienced investors or professionals, can reveal trends in new meme coin investments. Track changes in their balance and transaction patterns.
There’s no need to reinvent the wheel here. It may not sound glamorous to say, but following what smart money does and more or less just copying it will make you better than 90% of other investors.
These wallets entering or exiting positions in new coins can predict price movements. Utilize on-chain analytics to track whale activities and smart money addresses.
If you don’t want to bother with figuring out which whales own which addresses, there are online communities that track whales themselves, and you can pay to be a member of those communities.
The bottom line
To find new meme coins early, use CoinCodex to discover potential meme coins, track activity on the blockchain with tools like Etherscan and DexTools, and monitor crypto communities on social media platforms.
Track whales and smart money addresses for deeper insights. Engage with active crypto communities on X, Reddit, and Telegram. If you leverage these tools and stay informed, you can catch promising meme coins before they skyrocket.
Don’t forget something though – meme coins (usually) have no real utility or use case. This means they are unlikely to make it in the long run, and as such, they’re considered highly risky investments. Having diamond hands when investing in meme coins may not be such a good idea.
As the crypto market prepares for another big bull run, people are starting to look at tokens that could lead the charge. Ripple (XRP), DTX Exchange (DTX) and Solana (SOL) are now the projects that everyone is talking about. While you may know XRP and SOL as established crypto coins, DTX stands out.
This project is now in Stage 2 of its presale, which has already given early buyers a 100% return. But, market analysts are confident about DTX. They think that this coin could become the next 70x crypto in 2024.
Ripple (XRP): Breakout Incoming
Ripple (XRP) is a crypto with green price charts. CoinCheckup shows that the Ripple price has jumped over 5% in the past seven days. Crypto analyst Javon Marks says this movement will continue, as XRP could see a breakout soon. In his X article, Marks thinks that XRP will see a rally like the one in 2016-2017.
The Ripple crypto signals are also in the buy zone. XRP is above its 50-day EMA with a MACD level of 0.0091. These are good signs for Ripple’s future.
Because of this, market analysts see a potential rise to $0.63 in September 2024 in their Ripple price prediction. If a bull run comes, this price could reach $1.
DTX Exchange (DTX): A New Coin With Great Potential
Meanwhile, DTX Exchange (DTX) has been making headlines in the crypto market because of its ongoing presale performance. DTX Exchange has raised over $1.5M and will reach $2M before August ends. Crypto YouTubers like Crypto Vlog see DTX as the next 500x coin.
They are saying this because DTX Exchange brings something new to online trading. On this exchange, people can buy over 120K asset classes, such as gold, bonds and cryptos, at a leverage of 1000x. Fast transaction speeds of 0.04 seconds give DTX Exchange an advantage over other platforms.
The DTX utility token will fuel this platform. Buying and holding it will bring you many benefits, like governance voting rights and better analytics tools. DTX now costs $0.04 in Stage 2 of its presale – a 100% rise from its starting price. But this price will reach $0.06 after Stage 3 goes live. Market analysts predict another 70x surge after a Tier-1 CEX lists it in Q3 of 2024.
Solana (SOL): Prominent Expert Remains Confident
Solana (SOL) is another well-known coin. CoinCheckup shows that the Solana price jumped 600% on the YTD chart. Plus, expert Crypto Maximalist also made a bold SOL statement. In his X article, Maximalist says that SOL will go to $202 soon.
With the recent announcement that Loopscale has integrated with Solana, this prediction and come true. Loopscale is a modular order book-based credit market that will use the speed of the Solana network.
Experts consider all these factors when making their Solana price prediction. They forecast that SOL will trade at $158 in October 2024.
Ripple vs. DTX Exchange vs. Solana – Which One Could Stand Out?
Ripple, DTX Exchange, and Solana are all good crypto coins. But DTX Exchange stands out because it has a smaller market cap. With this advantage, DTX needs less new money for its price to rise. Plus, this project could dominate the $133T bonds market, which will give it more stability in volatile times.
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
Get ready to code, connect, and celebrate! This highly anticipated event will take place from February 10-12, 2025, in London. Bringing together over 2000 participants, including 200+ venture capitalists, 60+ limited partners, and 100+ hackers, this conference promises to be a hub of innovation and networking.
Event Highlights:
60+ Speakers: Industry leaders and visionaries will cover cutting-edge topics such as AI+DePin, DeFi, GameFi, SocialFi, RWA, PropTech, Alt-coin/ Memecoins, L1, and L2.
Networking Opportunities: Engage with top minds in the industry, including VCs, LPs, and hackers.
Inclusivity and Diversity: Promoting diversity, equity, and inclusion in tech, with a special emphasis on welcoming women and underrepresented groups.
Fun and Celebration: A mix of professional and social events designed to foster connections and collaboration.
Web3 Dev Malaysia 2024
Kuala Lumpur, Federal Territory of Kuala Lumpur – October 7-9, 2024
“We are thrilled to host Web3 Dev Global Track in Malaysia this year. This event is not just a hackathon but a celebration of innovation and community in the Web3 space,” said Everly, Founder of Web3 Dev Asia. “Our aim is to create an inclusive environment where ideas can flourish and diverse voices are heard.”
Attendees from Previous Events: Professionals from leading organizations such as Algorand Foundation, Amber Group, Binance, Bloomberg, Certik, Chubb, Citi, EY, Equal Opportunities Commission, Fortinet, Gate.HK, Gate.io, Goldman Sachs, HSBC, HashKey, Hays, Invest Hong Kong, Logitech, MIT, MTR, Macquarie Group, OSL, OneDegree, PwC, Scroll, Solana Foundation, zkLend
Media Partners: Web3 Dev Asia was supported by leading media partners including Bitcoin Insider, Foresight News, JESSICA, Monsterblock, Coinvoice, Blocktides, Asia Token Fund, NFTInsider and more.
New Delhi, India – 23rd August 2024 – The countdown has begun for the India Blockchain Summit 2024, set to take place on October 19, 2024, at the Talkatora Indoor Stadium, New Delhi, India. Organised by Giakaa Capital, this highly anticipated event is poised to be a landmark moment in India’s journey towards becoming a global hub for blockchain technology.
A Visionary Leader at the Helm
At the heart of this summit is the visionary leadership of Omika Dubey, the driving force behind Giakaa Capital. She is not only shaping the future of India’s blockchain landscape but also uniting key stakeholders from government, investment, and startup ecosystems to accelerate India’s digital transformation.
The India Blockchain Summit 2024 promises to bring together an unparalleled gathering of government officials, leading investors, and innovative startups. The event will feature a stellar lineup of speakers, including:
Smt. Rama Devi Lanka – Director, Emerging Technologies | OSD, ITE&C Department, Government of Telangana
Shri Suresh Khadakbhavi – CEO, Digi Yatra Foundation
Shri Nitin Mishra – CTO, Open Network for Digital Commerce (ONDC)
Shri Golok Kumar Simli – Principal Advisor & CTO Passport Seva Programme, Ministry of External Affairs, Government of India
Ms. Maya Sherman – Senior Innovation Officer, Embassy of Israel In India
Shri Dilip Chinoy – Chairman – Bharat Web3 Association, Former Secretary General at Federation of Indian Chambers of Commerce and Industry (FICCI)
Shri Prasanna Lohar – Founder, India Blockchain Forum | CIO, Diamante Blockchain
Shri Raj Kapoor – Founder, india Blockchain Alliance
Dr. Satya N Gupta – Chairman, Blockchain For Productivity Forum & more
Driving India’s Digital Revolution
With over 5,000 attendees expected, the summit will focus on pivotal sectors such as renewable energy, healthcare, education, fintech & banking, logistics & supply chain, infrastructure, aerospace, and digital governance. The event aims to explore how blockchain technology can drive India’s ambition to become a global leader in digital innovation while fostering collaboration between government, industry, and startups.
Notable Partners Joining Forces
The event is bolstered by an impressive roster of partners who are committed to making India a global hub for blockchain technology. These include:
Government Blockchain Association
India Blockchain Alliance
Bharat Web3 Association
India Blockchain Forum
WICCI Emerging Tech Council
TiE Ahmedabad, Udaipur, Chandigarh
Blockchain For Productivity Forum
Digital Euro Association
European Crypto Initiative
India Accelerator
Borderless Capital
IIT Kanpur SIIC
IIM Udaipur Incubation Centre
IMI Kolkata
CIE IIIT Hyderabad
I-Venture – Indian School of Business (ISB)
Atal Incubation Centre GGSIPU
iCREATE
iHub
Realtime Fund
ITU-APT Foundation of India
Blockchain Council
Silicon India
Coingape
Satcom Industry Association (SIA) India
Global Council for the Promotion of International Trade (GCPIT)
Mithilanchal Chambers of Commerce & Industry Foundation (MICCI)
Federation of Indian Micro and Small & Medium Enterprises (FISME) & more
Summit Highlights
The India Blockchain Summit 2024 promises a range of exciting and insightful activities, including:
Keynote Addresses: From top government officials and industry leaders on the future of blockchain in India and its global impact.
Panel Discussions: Engaging discussions on blockchain’s role in various sectors such as healthcare, digital governance, and financial inclusion.
Networking Opportunities: Connect with over 5,000 attendees, including policymakers, investors, and blockchain innovators.
Exhibition Showcase: Explore cutting-edge blockchain solutions and innovations from our exhibitors.
Main Stage Startup Pitches: Watch startups present their groundbreaking ideas to top investors and industry experts.
Special Sessions: Focused on women in blockchain, fostering inclusion, and diversity within the tech industry.
Why You Should Attend
The India Blockchain Summit 2024 is a must-attend event for anyone invested in the future of blockchain technology. Whether you’re a policymaker, investor, entrepreneur, or technologist, this summit offers unparalleled opportunities to connect, learn, and contribute to India’s digital revolution.
Key Statistics:
Expected Attendance: Over 5,000 delegates
Livestream: 100,000+ viewers globally
Speakers: 40+ industry leaders, government officials, policy makers, and experts
Partners: 500+ blockchain companies, associations, and incubators
Calling All Startups: Register for the Mainstage Pitch
Are you a startup with a game-changing blockchain solution? Don’t miss your chance to pitch your innovation on the mainstage in front of top investors and industry leaders. This is a unique opportunity to gain visibility, attract investment, and accelerate your growth.
Showcase your products and services at the India Blockchain Summit 2024 by booking a booth. Engage directly with key decision-makers, network with industry leaders, and increase your brand’s visibility. Limited booths available – book yours today at Book a Booth
At Giakaa Capital, our vision is to pioneer the future of digital public infrastructure through strategic investments in Blockchain technology. We are committed to advancing solutions that pave the way for mass adoption, contributing to a sustainable future aligned with the Sustainable Development Goals (SDGs).
io.net, a pioneer in Decentralized Physical Infrastructure Networks (DePIN), is thrilled to announce the appointment of Tory Green as its Chief Executive Officer. A new leadership team has also been put in place.
In this exciting new phase, former COO Green steps into the role with an ambitious vision to propel the company forward. The leadership transition marks a significant milestone as io.net aims to expand its Internet of GPUs and cement itself as a leading disruptor in the highly competitive cloud computing market.
Having been named CEO, Tory Green has curated a distinguished group of experts to join io.net’s executive team. It includes ex-Binance VP of Engineering Gaurav Sharma as Chief Technology Officer, ex-Binance marketer Milan Amin, and ex-Amazon Tausif Ahmed, who will lead Business and Revenue functions.
In addition, CMO and Chief Strategy Officer Garrison Yang will transition to the IOG Foundation as a Foundation Advisor, where he will focus on strengthening io.net’s mission and strategic initiatives. The reshuffle underscores the network’s commitment to stability, reliability, and sustained growth while enhancing market presence.
“I am honored to take on the role of CEO at io.net and I’m very excited to work alongside such a talented group of individuals,” said Tory Green.
“Our ultimate goal is to replace AWS as the largest provider in the multi-trillion cloud computing market. To achieve this, we need a team capable of ensuring stability, long-term growth, and network utilization – while raising brand awareness as the new disruptor on the block. With the talent we have onboard, I am confident we are well-equipped to take io.net to unprecedented heights.”
According to Green, io.net will continue to focus on expanding its global network, developing new business, and preparing for the next stage of growth. The company remains dedicated to democratizing access to GPU compute capacity, reducing costs, expediting lead times, and expanding choices for developers and businesses alike.
About io.net
io.net deploys and manages on-demand, decentralized GPU clusters in the IO Network. IO Network is a decentralized physical infrastructure network (DePIN) of geo-distributed GPUs from multiple sources. Hundreds of thousands of GPUs are accessible today in IO Network, and this Internet of GPUs is specifically architected for low latency, high processing demand use cases like AI/ML ops and cloud gaming. io.net democratizes access to GPU compute capacity while reducing costs, expediting lead times, and expanding choice for engineers and businesses. Access compute capacity for a fraction of the cost or become a capacity supplier at https://www.io.net.
Fully Homomorphic Encryption (FHE) Layer 2 Fhenix has announced the launch of two new programs to accelerate adoption of its growing ecosystem. Twin grant and bounty programs have been created to provide incentives and support for developers and projects looking to build on Fhenix L2.
The Fhenix Grant program aims to incentivize developers to explore the power of confidential computation using Fully Homomorphic Encryption. Designed for developers working on FHE infrastructure or looking to launch confidential applications onchain, the program is now open to applicants.
Fhenix is seeking projects developing innovative use cases and creating essential tooling for working with data secured by Fully Homomorphic Encryption. Applicants are expected to outline key deliverables, KPIs, and project milestones, with eligible grantees receiving funding to help build out their solution.
A dedicated grants page is now live on Fhenix.io, allowing projects to start the application process. Grant applications will be carefully reviewed by the Fhenix team, which may contact projects to request further information where necessary. The grants program is targeted at larger-scale projects interested in enhancing onchain confidentiality through FHE.
The Fhenix grant program is also complemented by a bounty program, designed to support smaller projects with a specific scope. The bounty page on Fhenix.io lists the latest bounties available complete with an outline of the task in question. The Fhenix team will aim to match the most suitable applicants to each bounty, with successful applicants eligible for the respective bounty reward upon project completion.
The Fhenix grant and bounty programs will allow more developers to familiarise themselves with its EVM-compatible L2 and to develop use cases that involve FHE. In the process, it will showcase the many confidentiality-enabled applications using Fully Homomorphic Encryption.
About Fhenix
Fhenix is the first Ethereum Layer 2 to enable confidential smart contracts using Fully Homomorphic Encryption (FHE), a novel cryptographic scheme that enables computation of encrypted data. Fhenix is EVM-equivalent, enabling developers to write their smart contracts in Solidity using the developer tools they’re familiar with and selectively encrypt them using FHE.
Fhenix’s goal is to advance Ethereum application development by bringing confidentiality to smart contracts, transactions, and onchain assets for the first time. To learn more, please visit https://www.fhenix.io/
