Been diving into on-chain data for DEX volumes and unique active wallets. Seeing some interesting trends in specific ecosystems. Has anyone identified any alpha by tracking new user acquisition on smaller DEXs that could signal an upcoming pump for their native token?
That's an interesting angle, tracking new user acquisition on smaller DEXs. I've mostly focused on liquidity depth and slippage, but identifying early adoption could definitely give an edge. What kind of ecosystems are you finding most promising for this?
While new user acquisition is a valid metric, aren't smaller DEXs often prone to wash trading or bot activity, which could skew those numbers? You'd need a robust way to filter out inorganic growth before making any investment decisions based on that.
I'm not sure if 'alpha' is the right word, but I've noticed spikes in new wallets interacting with certain smaller DEXs before an ecosystem-wide narrative gains traction. It's more about identifying emerging trends than predicting pumps, in my experience.