Dexscreener: Understanding and How to Use It

Bittime - DEXScreener is an on-chain based analysis platform designed to monitor markets on Decentralized Exchanges (DEX). By collecting data from more than 80 blockchains such as Ethereum, Binance Smart Chain, and Polygon, DEXScreener provides real-time information on price, trading volume, liquidity, and market trends, enabling traders to make smarter decisions in their trading strategies.

How to Get Started with DEXScreener

To use DEXScreener, users simply visit the website and select the desired blockchain, such as Ethereum or Solana. After that, DEXScreener displays trading pairs along with related metrics. Users can also track portfolios without connecting a wallet, simply by entering their wallet address to see the tokens they own and monitor their performance.

Also read: 3 Memecoins on the TRON Network to Watch Out For

Main Features of DEXScreener

One of the main features of DEXScreener is the interactive charts integrated with TradingView, which allows technical analysis using indicators such as Moving Averages (MA) and Relative Strength Index (RSI). The real-time notification feature is also very useful for active traders, allowing them to receive alerts when price or volume reaches certain targets.

Additionally, DEXScreener offers wallet diving, which allows users to monitor large transactions from large wallets (whales). This feature provides insight into market movements that may indicate significant price changes.

How to Buy and Sell Tokens via DEXScreener

Although DEXScreener focuses more on analysis, users can directly trade via Decentralized Exchanges (DEX). Simply select a token pair, connect a crypto wallet, specify the number of tokens you want to buy or sell, and confirm the transaction. This allows traders to directly trade without switching platforms.

Trading Strategy with DEXScreener

To optimize profits, traders can utilize the Top Gainers and Top Losers features to identify tokens that are rising or falling significantly. Additionally, DEXScreener allows traders to monitor price comparisons between DEXs, which can be used for arbitrage — buying tokens at a lower price on one platform and selling them at a higher price on another platform.

Pros and Cons of DEXScreener

DEXScreener offers a variety of advanced features for free, making it ideal for both beginners and experienced traders. However, the platform does not provide tools for social sentiment analysis or risk management. This can be a limitation for traders who want to see a broader picture of the market or manage potential losses.

Conclusion

DEXScreener is a very useful tool for DeFi traders looking for a platform to monitor and analyze market data in real-time. Featuring in-depth technical analysis, real-time alerts, and the ability to track large transactions, DEXScreener helps traders make more informed decisions and take advantage of existing market opportunities. Despite some drawbacks, such as the absence of sentiment analysis and risk management, DEXScreener remains the top choice for those looking to optimize their trading strategies in the world of DeFi.

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Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.