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The cryptocurrency world is changing rapidly, with hundreds (if not thousands) of new coins and tokens launching on different blockchains every day.
Major crypto exchanges list only a few hundred of these coins, which are usually the tokens associated with big projects and a proven history.
So how can you see these new coins — the ones that can be considered to have the most massive potential for upside in their first days?
Today, we are exploring the history, uses, and strategies available on Dex Screener and figuring out why millions of people use it to trade memecoins and newly-born crypto tokens.
Key Takeaways
- The crypto market sees hundreds of new tokens launched daily, but only a few make it to major centralized exchanges.
- DEXs, on the other hand, enable thousands of listings daily, making it harder to find promising projects.
- Dex Screener offers tools to track, filter, and analyze tokens across multiple DEXs.
- The platform’s filters allow users to customize searches based on criteria like liquidity, market cap, and token age.
- It also has features like price alerts, whale tracking, and multi-chart analysis.
What Is Dex Screener?
Dex Screener is a powerful analytics tool for discovering new tokens. Its interface features columns for new pairs, gainers and losers, and more, which users can explore to find promising opportunities.
It allows traders and investors to track and analyze real-time data from multiple DEXs, view price charts, monitor liquidity, and follow market trends for tokens listed on various DEXs.
Why Dex Screener Exists
New coins rarely make it to centralized exchanges so quickly. They usually need to reach a few market cap milestones and go through a rigorous process before being listed on CEXs.
This is where decentralized exchanges (DEX) come into play. These platforms allow anyone to list a token and provide liquidity to a token pair, making it super easy to launch a new token in a matter of minutes.
Since the process of listing tokens on DEXs is pretty simple, thousands of new coins are listed on a daily basis, making it difficult to find promising projects. However, tools like Dex Screener help explore the territory.
Dex Screener Lets User Filter Tokens Based on Different Metrics
What makes Dex Screener a powerful tool is its ability to filter tokens based on various criteria like platforms, networks, and metrics.
The platform supports multiple blockchains such as Ethereum, Solana, Base, and others. By selecting a chain and applying filters, users can refine their search to focus only on tokens issued on that specific chain and exclude others.
Beyond platforms, Dex Screener offers advanced filtering options to tailor results further. Users can set parameters for minimum and maximum liquidity, for instance, ensuring that tokens with inadequate liquidity are excluded.
Similarly, market cap, fully diluted value, and age (measured in hours or days since launch) can be adjusted. For example, users might look for tokens less than two weeks old and with a minimum liquidity of $10,000.
Other metrics, such as 24-hour transaction volumes and buy/sell activity, can also be customized to highlight high-activity tokens.
DEX Screener Features
Dex Screener has a number of features that make it even more useful for traders:
Personalized Alerts:
- Set alerts for price movements, liquidity changes, and transaction volume spikes.
- Helps traders act quickly during market volatility to optimize their trading positions.
Whale Activity Monitoring:
- Allows users to track large transactions (“whale activity“).
- Useful for understanding market sentiment and reacting to potential price fluctuations.
MultiCharts Option:
- Create custom dashboards to compare price movements and spot patterns across cryptocurrencies.
- Supports up to 16 trending charts.
Powered by TradingView:
- Integrates with TradingView to provide access to a vast collection of technical indicators for comprehensive analysis.
How to Use Dex Screener?
On the homepage of Dex Screener, users have the option to choose trending coins in the past 5 minutes, 1 hour, 6 hours, or 24 hours. These trending coins might be a good place to start, though users need to investigate each coin separately for its growth potential.
For starters, liquidity should be a key metric. Tokens with higher liquidity reduce risks like slippage during trades, meaning that users can swap their holdings without significant losses.
Users can also use Dex Screener to find promising tokens by tracking “smart money” wallets, which are wallets that have raked in significant profits from early investments in trending tokens.
The process begins with finding tokens that have recently performed very well. Once a trending token is identified, users can use Dex Screener to analyze trading data, specifically looking at top traders who achieved the highest profit and loss (P&L) on the token.
By identifying wallets that made substantial returns, users can investigate these wallets to learn about their current and past token investments. They can also “copy trade” their strategy and invest in the coins they are investing in.
For advanced users, Dex Screener enables deeper investigations, such as evaluating token ownership distributions and developer activity. By analyzing factors like developer-held supply or suspicious wallet behavior, users can identify potential red flags.
History of Dex Screener
According to PitchBook, DEX Screener was founded in 2021 and is headquartered in Austin, Texas. The company is relatively small, with just 10 reported employees.
Nevertheless, DEX Screener has attracted notable investor interest, with backers including Buckley Ventures, DGF Investimentos, Earl Grey Capital, Finbarr Taylor, and Hyper (U.S.), among others.
While details about its revenue remain undisclosed, DefiLlama estimates its annualized revenue and fees at $90.85 million.
PitchBook’s breakdown by chains shows that Solana, Ethereum, Base, and Polygon contribute significantly to the fees collected.
The Bottom Line
Dex Screener is a powerful tool for crypto traders, as it allows them to find promising tokens amidst the thousands of new coins launched on DEXs every day.
The platform allows users to customize searches based on criteria like liquidity, market cap, and token age. It also offers features like price alerts, whale tracking, and multi-chart analysis.
