Crypto trading can be a daunting activity for novice traders without access to the right information. Most investors aim to buy into a digital asset before it begins to trend, ideally while the price is low. Once it draws the attention of the broader market and begins to trend, the price would naturally increase along with the on-chain activity. This is a common strategy, and if it works well, the trader can make a tidy profit. The problem emerges when there are thousands of cryptocurrencies flooding the space, making it almost impossible to check the on-chain activity and conduct research on each one of them. This is where the KyberSwap Discover feature comes in.
KyberSwap’s Discover feature is the first on-chain tool that helps traders to spot tokens before they trend. This feature analyzes data across the 12 supported networks, including Ethereum, Polygon, BNB, Avalanche, Cronos, Fantom, Aurora, Velas, BitTorrent, Oasis, Arbitrum, and Optimism, to highlight the coins with the most potential based on-chain data trading volumes and price trendlines to help KyberSwap users discover tokens that could be trending in the near future. With the Discover feature, investors can make use of this intuitive tool to help them spot tokens early and help them stay ahead of the game.
Trade Smarter Using Discover
The first DEX to provide a predictive tool for DeFi tokens, KyberSwap’s Discover feature is split into two categories, the “Trending” and the “Trending Soon.” The Trending feature pulls data from top aggregators Coinmarketcap and Coingecko to show a list of cryptocurrencies that are currently already trending. However, the diamond in the rough is the Trending Soon category.
In the Trending Soon category, KyberSwap users can see a list of the top 50 tokens that have the potential to trend. Using its original TrueSight technology, KyberSwap scans through over 20,000 tokens across 12 chains, analyzing on-chain data, trading volumes, and price trendlines to showcase tokens that are not yet trending but have a high probability of trending in the near future, hence the name Trending Soon. This tool makes it easier for traders to research and find promising tokens.
Nevertheless, it is advisable always to apply due diligence and do your own research (DYOR) on any of the suggested tokens before investing. The Discover feature is a tool that can be used with other tools such as social sentiment tools (e.g., Fear & Greed Index, LunarCrush, etc), news coverage, and community discussions to filter out and evaluate promising DeFi tokens. KyberSwap also provides important tools for traders designed for an easier trading journey, such as its Pro Live Chart for full technical analysis, and Dynamic Trade routing, which can split trades between DEXs to find the most optimal route. Using a combination of these tools and not neglecting to conduct due research into each project can provide the trader with a more holistic view and the confidence needed to make trading decisions.
About KyberSwap
The flagship product of Kyber Network, KyberSwap is one of the leading decentralized exchanges (DEX) in the crypto market. As a premier aggregation platform that provides the best token prices for trades across multiple exchanges combined with its multi-chain operability, KyberSwap has been catapulted into the limelight to become one of the most widely used decentralized finance (DeFi) protocols in the space. Not only does it cater to traders by providing the best rates, but its newest protocol, dubbed Elastic, also helps maximize earnings for liquidity providers utilizing concentrated liquidity and compoundability in a single decentralized platform.
Kyber Network ICO-ed in 2017 with Ethereum founder Vitalik Buterin as an advisor and has since grown rapidly to become one of the market leaders in decentralized finance. Kyber Network powers dApps from wallets, token swap services, as well as decentralized finance protocols. Traders, liquidity providers, and developers alike can earn, trade, swap, and build without limits using KyberSwap.
Now celebrating its 5th year in the DeFi space, KyberSwap connects liquidity for traders, Dapps, and aggregators across the space. It has seen more than $25 billion in total value locked (TVL) in over 60 DEXs, deployed across 12 chains and supporting more than 20,000 tokens.
To learn more, visit KyberSwap