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Analyzing a project correctly involves considering various factors that can impact its success. Here’s a structured guide that’s accessible to both beginners and professionals, with an engaging narrative to keep the audience involved.
Investors and Funds
The success of a project often hinges on its backers. During bear markets, funds may play a lesser role, but a solid project should still have reputable supporters. Projects often list “investors” on their websites, but these can sometimes be fictitious. To verify the authenticity of these investors, use services like CypherHunter, which provides a project overview and investor list, and Crypto Fundraising Info, which tracks venture fund deals.
Tokenomics and Roadmap
Tokenomics is the study of the supply and demand characteristics of a cryptocurrency. Unlike traditional currency, which economists track using monetary supply data, cryptocurrencies and blockchain-based tokens have pre-set, algorithmically generated release schedules. 1 reply
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This allows for predictions about the number of coins that will be created by a certain date and potential price directions. Analyzing the project’s roadmap, goals, timelines, and overall vision is crucial. A missing roadmap is a significant red flag, except for degenerate and flip collections.
Project Website
The project’s website is its business card. Pay attention to the website’s quality, whether it’s multi-page or single-page, and if it includes documentation links. A poorly constructed website suggests a lack of trust in the project’s main product.
Social Networks
Early-stage project research may rely solely on Twitter and Discord. Look for influencer engagement and activity. CoinsGuru is a valuable tool for tracking influencers, developers, and investors associated with a project. For Discord, assess the server’s design and community activity. While social media activity isn’t always necessary for substantial projects, it’s crucial for NFT collections. 1 reply
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