Getting Started with BSC Chain from Scratch: From Scanning the Chain, Monitoring to Trading
Author: Zibu
cz(@cz_binance) started with the hesitant shout of $tst, and now he is mentioning his pet dog on Twitter, it seems he really wants to get the meme on BSC going. So, how should we play with memes on BSC? To do a good job, one must first sharpen their tools. This article will introduce the tools that can be used in various processes of participation.
1. Chain Scanning
The pump platform on BSC is https://four.meme/, where we can check the internal coins on the 【Board】 page and filter them by various conditions; we can also view the market capitalization rankings and 24-hour trading volume rankings on the 【Ranking】 page.
2. On-chain Tools
In addition to chain scanning, we can use many on-chain tools to help us filter coins, mainly considering indicators such as market capitalization/pool, transaction volume, number of trades, and creation time.
Commonly used on-chain tools include the following.
1. UniversalX
Website: https://universalx.app/user/x/0x_zibu?inviteCode=E8LJSP
UniversalX (@UseUniversalX) is the first official application of Particle Network (@ParticleNtwrk), allowing seamless access to all-chain assets in a non-custodial manner, without the need for manual bridging or gas management. UniversalX currently supports Solana, BSC, and 13 other mainstream EVM chains. UniversalX is also available on mobile, with apps on App Store and Google Play.
On the homepage of UniversalX, select 【BNB Chain】 and in the 【Radar】 section, you can choose coins from different periods by "New", "Growth", and "Prosperity". The main filtering indicators are market capitalization, number of holders, transaction volume, and liquidity.
For new listings, pay more attention to "New", for secondary listings, focus on "Growth", while "Prosperity" mainly includes older coins that have been listed for a long time.
【Highlights】 feature four rankings, including "Trends", "Gainers", "Losers", and "New Coins". Among them, "Trends", "Gainers", and "New Coins" can be focused on.
UniversalX also lists coins on Binance Alpha, which can be viewed across all chains or filtered to see only specific chains, such as BSC coins. This feature is better than what Binance Wallet offers, as Binance Wallet cannot filter by chain.
2. debot
Website: https://debot.ai?inviteCode=175623
debot mainly has two sections: 【New Listings】 and 【Hot】.
The 【New Listings】 section features new coins that have been released within the last 24 hours, which can be filtered by time period, market capitalization, transaction volume, number of trades, etc. Its advantage is the addition of the "Number of Wallets" indicator.
The 【Hot】 section filters all listed coins by popularity, with filtering indicators similar to those in the 【New Listings】 section.
3. gmgn
Website: https://gmgn.ai/?ref=sxsy7oyJ
gmgn recently started supporting the BSC chain and was even retweeted by cz. The BSC section of gmgn mainly includes 【New Coins】 and 【Hot】 sections, similar to debot.
The 【New Coins】 section features new coins released within the last 24 hours, which can be filtered by time, with finer granularity; security checks are also supported for filtering. It is common for some coins on EVM to not be open-source, not renounce ownership, or not lock liquidity at launch, so supporting filtering is indeed practical; other indicators are common, as shown in the image.
The 【Hot】 section filters all listed coins by popularity, with filtering indicators similar to those in the 【New Coins】 section.
gmgn also designed a 【Next Blue Chip】 feature for the BSC chain, which currently has no data. Compared to this feature on the SOLANA chain, it is roughly a selection of some potential coins, which can be focused on once they are launched later.
When looking at the charts, the 【Holders】 section of gmgn has added a new feature that allows you to intuitively see changes in holders, average holding amount, and average purchase price of the Top 100, making it very convenient to quickly assess the basic situation of holders. Each holder's address has a progress bar below it to show the remaining holdings of the current address, which is very intuitive and practical.
4. okx
Website: https://www.okx.com/zh-hans/web3
okx offers a comprehensive service, supporting various chains, including BSC. The web version has more features compared to the Web3 wallet, allowing filtering based on time, popularity, most searched, and latest indicators.
5. ave
Website: https://ave.ai/
ave is an old tool that has been widely used since the last bull market, supporting multiple chains and also having an app for convenient chart viewing. The BSC chain features four sections: 【Hot Search Rankings】, 【New Listings】, 【Gainers Rankings】, and 【Inclusion Rankings】. Each section can be filtered by different indicators, some of which can only be filtered and not sorted, depending on personal preference.
ave has a dedicated section for coins from Four.meme, supporting 【Hot Internal Listings】, 【New Internal Listings】, 【Upcoming Full Listings】, 【New External Listings】, and 【Hot External Listings】. It is quite good for chain scanning and feels much more comfortable than the official chain scanner; I hope other tools can catch up soon.
6. DexScreener
Website: https://dexscreener.com/
DexScreener is also an old tool like ave, supporting many chains. It allows filtering by time period, trends, TOP trading volume/number of trades, returns, new pools, etc., and can customize various filtering conditions. Overall, the indicators are very rich. I have previously used DexScreener's filtering indicators to run data for several years and developed many strategies.
The advantage of DexScreener is its comprehensiveness, while the downside is that the candlestick charts are not as fast, being a few seconds behind compared to other tools. Its multicharts feature is particularly useful, especially for monitoring multiple coins. Some other tools also have this feature, but none are as user-friendly as DexScreener, although there are still some areas for improvement.
3. How to Find Smart Money
Monitoring smart money is an effective way to obtain early golden dogs and popular coins on the current chain. Many people use it more on SOL, but the BSC chain has been quiet for too long in this bull market, and many around me do not have accumulated smart money on the BSC chain. So how should we find smart money?
First, we can look at the smart money from other EVM chains, such as ETH and BASE, to see if the smart money on these chains is active on the BSC chain. If it remains active, it can be directly utilized.
Second, we can analyze the emerging golden dogs using existing tools to identify smart money.
1. debot
Website: https://debot.ai?inviteCode=175623
In debot, enter the CA of the coin you want to analyze and open the 【Transaction Analysis】 at the bottom. We focus on the 【Top Holdings】 and 【Top Earnings】 sections. The 【Top Holdings】 section lists the addresses of the Top 100 holders, while the 【Top Earnings】 section lists the addresses of the Top 100 most profitable addresses.
Clicking on any address will display detailed profit data and transaction records for that address on the right side of the interface.
If we want to see an address's overall profit data, recent gains and losses, held tokens, and recent transaction records, we can also enter that address into the search box to view detailed data.
2. gmgn
Website: https://gmgn.ai/?ref=sxsy7oyJ
In gmgn, enter the CA of the coin you want to analyze, focusing on the 【Traders】 and 【Holders】 sections at the bottom.
The 【Traders】 section lists the Top 100 most profitable addresses, categorized by "Smart Money", "KOL/VC", "New Wallets", "Developers", "Rats", "Phishing Wallets", and "Bot Degen". We can sort by "Total Profit", "Realized Profit", "Unrealized Profit", etc., to filter for smart money that meets our criteria.
The 【Holders】 section lists the Top 100 holding addresses, categorized by "Smart Money", "KOL/VC", "Blue Chip Holders", "New Wallets", "Developers", "Rats", "Phishing Wallets", and "Bot Degen". We can sort by "Funds Injected/Quantity" and "Total Profit" to filter for smart money that meets the conditions.
Clicking on any address will display detailed profit data and transaction records for that address on the right side of the interface.
Currently, gmgn does not support analyzing the overall profit situation and historical data for a specific address, and I hope gmgn will add this support soon.
3. ave
Website: https://ave.ai/
ave also provides analysis for 【Holders】 and 【Top Traders】.
The 【Holders】 section lists the Top 100 holding addresses, further divided into "Smart Money", "DEV", and "Snipers".
When we click the filter button next to an address, we can see the profit and transaction data for that address on this coin.
The 【Top Traders】 section currently only lists the Top 15 profitable addresses, with limited data.
4. DexScreener
Website: https://dexscreener.com/
The 【Top Traders】 section of DexScreener lists the top 100 most profitable addresses, which can be sorted by total profit and unrealized profit, but the displayed information is limited and not as useful as the features of debot and gmgn.
4. Monitoring Smart Money
With smart money, we need to monitor it so that we can know what these powerful players are trading on the chain in real-time. When it comes to monitoring, I recommend debot, as it is currently the most feature-rich and granular monitoring product I have used.
The wallet monitoring in debot is divided into two types: wallet behavior monitoring and wallet group behavior monitoring, as shown in the image.
1. Wallet Behavior Monitoring
This monitoring is a standard feature available in all tools, but the advantage of debot is that it allows addresses to be grouped and then pushes notifications to different TG groups based on the grouping situation, as shown in the image.
This way, we can create different TG groups for notifications based on tagging, such as internal players, external secondary players, key addresses, etc. A tool that can categorize monitoring information is a good tool. When I previously used abot for monitoring, I had to tag addresses first and then develop a secondary distribution based on the tagged information after the TG group received the monitoring message. Now with debot, there is no need for secondary development.
2. Wallet Group Behavior Monitoring
If we are monitoring a large number of addresses, there is an unavoidable issue: too many push notifications. If there are too many messages, the human brain cannot process them, leading to a sense of burnout, which defeats the purpose of monitoring. To address this issue, my previous strategy was to develop a secondary filtering for the push notifications, setting a threshold for the number of different addresses buying within a certain time frame before sending a notification. For example, if 5 different addresses buy within 30 minutes, then push a notification. I used this strategy for about a year, and it worked very well, reducing many messages while still not missing out on popular coins.
The wallet group behavior monitoring in debot perfectly implements my above strategy and does it even more finely, with more detailed indicators, as shown in the image. We can monitor based on buying and selling, set monitoring time periods, transaction amounts, notification frequency, and market capitalization size. It can fully meet various monitoring needs, and I strongly recommend this feature.
3. Group Trading Tokens and Recent Transactions
After importing smart money into debot, we can view 【Group Trading Tokens】 and 【Recent Transactions】 by group in the 【Observe Groups】 section.
The 【Group Trading Tokens】 section lists all the coins traded by smart money in this group within a certain time frame, such as 24 hours, and can be filtered and sorted by different indicators. When we do not have real-time monitoring messages for smart money but want to know which coins these smart money have bought, this feature is very useful.
The 【Recent Transactions】 section lists the transaction records of smart money in this group, displayed in chronological order.
4. Holding Details and Transaction Details
After importing smart money into debot, we can see 【Holding Details】 and 【Transaction Details】 in the 【My Observations】 section on the coin's candlestick page.
The 【Holding Details】 section lists all the data of smart money that has traded this coin, which can be sorted and filtered by various indicators, making it easy for us to see which smart money has already entered.
The 【Transaction Details】 section lists every transaction record of smart money trading this coin in chronological order, which can be displayed in ascending or descending order. This way, when we want to know which address among our smart money was the first to buy this coin, we can sort in ascending order, and the first transaction will show up. This feature is very practical and can filter out the fastest smart money messages.
5. Security Check Tools
A significant issue with EVM chains is the risk of encountering scams, so conducting a security check before buying is essential. The common security check tools mainly include the following.
1. goplus
Website: https://gopluslabs.io/token-security
goplus is a security check tool that emerged during the last bull market, backed by Binance Labs. Many tools currently integrate goplus's features, and it can be used via the web version or as a plugin, and it also provides a security check API, which can be considered for scripting strategies.
2. honeypot.is
Website: https://honeypot.is/
honeypot.is was quite popular during the last bull market and is relatively accurate in security checks; they also have an API.
3. tokensniffer
Website: https://tokensniffer.com/
tokensniffer is also an established security check tool.
Due to the many tricks and various scams on EVM, it is advisable to use multiple tools together to prevent losses caused by relying on a single tool.
6. Trading
The BSC chain was very popular in the last bull market, and many trading tools that were used back then are no longer updated. Fortunately, more trading tools have emerged now, and here are a few currently popular tools.
1. UniversalX
Website: https://universalx.app/user/x/0x_zibu?inviteCode=E8LJSP
UniversalX is an on-chain CEX that allows trading with balances from all chains. When the account has usdt, usdc, eth, btc, or sol, trading can be done. Currently, it supports regular buying and selling, with plans to add internal trading and limit orders in the future.
The advantage of UniversalX is that it is chain-agnostic, allowing trading of coins from 15 chains as long as there are base tokens. This is particularly useful when there are no coins on other chains and the exchange is slow to process withdrawals. Additionally, UniversalX has very fast charting and trading speeds, automatically preventing sandwich attacks, and it supports mobile trading, making it very convenient.
Moreover, UniversalX has reduced trading fees for mainstream coins to 0.1%, consistent with CEX, including $AI16Z, $Fartcoin, $ARC, $AIXBT, $TST, etc.
With investment from Binance Labs, they expect to issue tokens this year, and trading on UniversalX is equivalent to engaging in interactions, with expectations for airdrops.
2. debot
Website: https://debot.ai?inviteCode=175623
debot supports trading on the BSC chain, currently offering basic buying and selling, with plans to add sandwich protection features in the future. One advantage of trading with debot is that it can display all pools for the current coin, which is currently the most comprehensive feature of debot, making it easier for us to choose different pools for trading.
debot has a mobile version for convenient and quick trading.
3. gmgn
Website: https://gmgn.ai/?ref=sxsy7oyJ
gmgn now supports the BSC chain, currently offering basic buying and selling. The advantage of using gmgn is the convenient access to its data analysis features, with clear basic data on holders.
gmgn supports mobile trading.
4. okx
Website: https://www.okx.com/zh-hans/web3
okx is a large platform that supports basic buying and selling in regular mode, with MEV protection to prevent sandwich attacks. The meme mode supports BSC celebration pickups, allowing for quick buying and selling, and also allows for preset parameters. Its advantages include multi-platform coverage, supporting web, plugin, and mobile versions.
5. PinkPunk
Link: https://t.me/PinkPunkTradingBot?start=ref_8CEB8FBBC7EE9B050033
PinkPunk is an established TG bot that supports multiple chains. Its advantages include basic buying and selling, as well as limit orders and sniping, with relatively fast speeds.