Trading Tip – How Big is Your Coin?
One key way to know whether a coin is growing and vibrant, or rotting and on the decline, is by verifying the size of the community that supports it.
Viable blockchain projects with a growing market cap are likely to have a thriving community on Reddit and a solid presence on Twitter.
One of the best tools for an at-a-glance look at which coins have strong support on social media is Crypto Metrics.
The table displays the biggest coin communities on Reddit and Twitter. It also shows you each coin’s daily, weekly, and monthly social media gains.
Another awesome trick for judging the size of a coin is to hit up Google Trends. This tool allows you to compare keywords and see how often they are being searched on Google. For example, you can compare Ripple, Bitcoin and Monero to see how many people are searching for those coins in real time.
Coins ranking high on the list are likely to be legitimate, with real and strong support from a community of crypto and blockchain enthusiasts.
If you have any trading tools or tips to share, send them our way!
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.