Swords are coming! Only 10 days after Rune was launched,#RSICwas opened for trading on OKX. The overall market size is close to 1 billion US dollars. The development speed of the Rune market is constantly breaking the previous record of Ordinals ecosystem. At this time, how to choose the right time to enter the market and how to escape the top and exit the market have become the most concerned issues. Today, I will tell you step by step how to obtain data through tools, and how to use these data to assist investment decisions, so that you can steadily reap the dividends of the track!
Why is data so important? Because the only scarce resource in cryptocurrency is attention, which is extremely obvious in the bull market. Data can tell us whether more and more people are participating in the project, liquidity is getting higher and higher, and whether the community consensus remains stable. I have made detailed introductions in previous tweets. For the core indicators, it is recommended that those who hold runes or plan to enter the market should pay attention every day.
Geniidata has a comprehensive data dashboard for Rune. The current total market value of Rune is $918 million.
After the DECENTRALIZED airdrop, it briefly exceeded $1 billion, but later fell back due to the heavy selling pressure of the airdrop. Although Magic Eden launched rune trading 3 days later, it later became the main force in the trading market. The overall market trading volume increased significantly after the $DOG airdrop on the 24th, and then returned to normal.
Here you can see the runes with the highest increase, decrease and trading volume in the past 24 hours. The rune market is still in its early stages. Although more than 58,000 runes have been etched, the trading volume is still concentrated in runes 1-9, especially DECENTRALIZED, RSIC and $DOG. The liquidity of the rest is poor, so the price increase or decrease alone has no reference value.
Here you can see the runes with the highest market value and trading volume. DECENTRALIZED, RSIC and $DOG account for more than 80% of the trading volume and market value, and the head effect is obvious! The S/B ratio on the far right represents the number of sellers divided by the number of buyers. $DOG remains stable, DECENTRALIZED has a certain selling pressure, and RSIC has a large selling pressure, mainly because it was airdropped to the Memeland community on the 27th, and the number of holders has increased to 110,000.
The Rune market is greatly affected by the RSIC airdrop, and the S/B ratio has increased significantly. We can infer the indicator "daily number of new traders" mentioned above by combining the S/B ratio and the number of Holders. If the S/B ratio is large and the holder remains stable, it means that the chips have been replaced by newcomers, which is a healthy performance. If the S/B ratio is large and the holder also falls steadily, it means that many people have withdrawn and there are no newcomers to maintain it, so we need to be vigilant.
For example, $DOG in the figure, the number of holders dropped by more than 200 from 72085 within 24 hours, and the S/B ratio was close to 1, with the number of sellers and buyers almost equal, indicating that all the chips in the transaction were sold to existing holders. Although the number of RSIC holders dropped by 4477 from 106835, the difference between sellers and buyers was 5257, indicating that there are still many new investors. Therefore, even though I am more optimistic about $DOG in the long term, the current time is not the best time to buy.
Through dune, we can mainly observe the number of new users in the rune market. As shown in the figure, the number of new users is currently growing steadily, which is the most important indicator for measuring the health of a market. If the performance of this indicator remains stable, even if the position price fluctuates slightly, it will not lead to premature exit. If the indicator performance is abnormal, it should be vigilant.
The next step is to observe the popularity of social media. The lunacrush website can help us observe the interaction indicators of any term on Twitter, and filter out the top influencers or tweets related to the term. For example, if we enter "Runes" in the search bar, It can be found that its Twitter interaction volume reached its peak after the halving and then gradually cooled down. It can be seen that the short-term high GAS after the rune was launched and the failure to bring about the expected significant wealth creation effect made the popularity gradually cool down.
Scroll down to the tweet interface and select "Popular" to view the hottest tweets recently. For example, the biggest event in Rune recently is that RSIC is open for trading on OKX. If we can get the news first and buy it in time, and sell it at today's high, we can get at least 20%-30% profit! After OKX opens for trading, it will first face a wave of wash-outs. We can also observe the number of new traders, choose the right time to buy, and buy at the right position!
Similarly, we can check the Twitter interaction volume of a specific rune. The interaction volume indicator is basically synchronized with the coin price performance. If we observe a large contrast between the Twitter interaction volume and the coin price performance, we should pay attention to it. Is it because the good news such as the listing of the stock exchange has just been released and the price has not been pulled up immediately? This is our opportunity to buy.
Similarly, looking at the most popular tweets of $DOG, we can see that the influence is still concentrated on the founder @LeonidasNFT himself. Judging from this series of indicators, the overall popularity of the rune market is not high at present, and there are no other significant benefits except the listing of RSIC. The leading $DOG currently has no obvious action and its influence has not expanded further. The market is still in its early stages. Those who hold chips can continue to wait, and those who have not yet entered the market can wait and see for a while.
Summary: Perhaps many people may complain that Rune does not have a significant wealth creation effect in the short term. Perhaps many people have just learned about Rune and are hesitant about when to enter the market. However, by observing the overall market data and the data performance of specific targets, Combining it with tools such as LunarCrush to capture market hot spots often allows us to take advantage of the market and quickly find profit opportunities while others outside the market are still fudging.
The land is filled with white clouds and the rivers and lakes are vast, allowing me to walk freely. The above are all about the strategies for observing rune market data. If you fellow Taoists like today's article, please forward it and like it. I am very grateful. 🙏🙏The above opinions are only This is a personal sharing and does not constitute investment advice. Crypto investment has higher risks, please participate with caution, #DYOR!