DEX Screener: The Handy Token Tracking Platform
DEX Screener is a dynamic platform enabling users to track token market data in real time across a variety of blockchains.
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Competing with services like DEXTools and PooCoin, DEX Screener stands out by offering enhanced functionality, including the ability to monitor over 50 networks, some even beyond EVM compatibility.
Let’s delve into all the features of DEX Screener and learn how to make the most out of this application.
What Issue Does DEX Screener Address?
In the diverse world of cryptocurrency networks, there are tens of thousands of tokens in circulation. The primary tools for gathering and analyzing data about these tokens are blockchain explorers like Etherscan for Ethereum and Polygonscan for Polygon. However, using these explorers can be cumbersome when one needs to rapidly analyze data across various assets.
DEX Screener organizes and displays market data on its own website, offering real-time data updates without the need for page refreshes.
This platform allows users to view information not only in EVM-compatible networks but also in blockchains with unique architectures, such as Solana, Near Protocol, Velas, and even in test networks like Ethereum Goerli.
What Kind of On-Chain Data Can DEX Screener Monitor?
DEX Screener provides a range of categories for protocol users:
- Up-to-date price charts, even for tokens not listed on centralized exchanges;
- A list of transactions updated in real time;
- The number of traders and holders of each token;
- Liquidity volumes in trading pairs and market capitalization;
- Daily buyer-to-seller ratios for assets;
- Basic smart contract audits to identify potential security issues, like the inability to sell tokens or unlocked liquidity;
- Options to set notifications for changes in asset prices, major transactions, etc.;
- Current project information including websites, social media, and team member links.
This comprehensive data can assist users in thoroughly analyzing cryptocurrency tokens, helping them evaluate the investment potential.
DEX Screener Platform Features
The homepage of the DEX Screener website may initially appear data-intensive, but users quickly get accustomed to it. A prominent feature is the extensive list of popular trading pairs from various networks, based on the last 24 hours of activity:
DEX Screener Homepage. Source: dexscreener.com
Users can filter any token by criteria like price, trading volume, user count, liquidity condition, price fluctuation range, and FDV (Fully Diluted Valuation, i.e., the asset's market capitalization assuming all possible tokens are in circulation).
On the left side of the homepage, there's a column with several practical tools:
- Links to the service's mobile apps;
- Options to track specific tokens and set alerts;
- A Multicharts feature for viewing several trading pairs at once;
- Sections for new trading pairs, and leaders in growth and decline;
- News updates and a personalized portfolio section;
- Trending assets, advertisement inquiries, and API access.
DEX Screener Sidebar Menu. Source: dexscreener.com
Below this menu is a comprehensive list of all the cryptocurrency networks that can be monitored.
Token price charts and all on-chain data are available when clicking on a specific trading pair or searching for an asset by name or contract address.
GREED Market Data on Solana. Source: dexscreener.com
Earning Opportunities on DEX Screener
On-chain analytics and diverse information can be highly useful for users aiming to generate income. Here are some ways to earn with the DEX Screener platform:
- Identifying the optimal entry point for purchasing assets on the spot market, using unique on-chain metrics unavailable on other platforms;
- Taking advantage of arbitrage opportunities due to the platform's continuous update of price information;
- Earning from popular and trending tokens.
For example, following the death of Queen Elizabeth II, the QUEEN token was created, surging 10,000% in a day. Similar phenomena occur with tokens associated with various personalities, events, or global occurrences.
As many users begin to show interest in these trending assets, there are two ways to capitalize: either mint the token yourself or buy it immediately after its listing. The latter method is more risk-laden, as it depends solely on the continuation of the hype. Thus, using DEX Screener allows users to discover such projects during their creation and announcement phases.
Final Words
DEX Screener is a valuable tool for detailed analysis of token information across any network. This allows users to access all details about a selected token and discern its potential risks and benefits.
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