Keeping up with the rapid pace of the NFT space is without a doubt one of the most challenging problems for NFT traders. Fortunately, we have an increasing number of technologies that can aid in this regard, one of which is NFTGo. NFTGo all-in-one NFT analytics tool is jam-packed with capabilities that could propel your NFT trading to new heights.
In this article, we’ll go over one of NFTGo’s most extensive tools, the watchlist feature, and show you how to use it.
Everything you need to know about NFTGo’s watchlist feature.
As many people know, it’s easy to get lost in the sea of new and rising NFT projects that emerge daily. Even if one is only interested in several NFT initiatives, keeping track of them might not be easy. Indeed, attempting to monitor numerous projects at the same time might easily result in losing vital information about any of them. And in the world of NFT trading, information is the most valuable asset.
To solve this, NFTGo introduced its watchlist feature. This application can help you keep track of NFTs you want to buy as well as those you already own. So, what can the watchlist do?
Step 1: Create a collection dashboard.
Essentially, the collection dashboard on NFTGo allows you to compile multiple NFT collections in one location. This is a significant benefit for NFT traders who routinely assess numerous projects at once before making purchasing decisions. After all, you want to ensure that you’re investing your valuable ETH in the appropriate areas, don’t you?
NFTGo’s collection dashboard offers valuable analytics for each collection that you add to the dashboard to assist you in making these decisions. For each collection, the dashboard displays market cap and volume, floor price trend, whale actions, blue-chip holder activities, and more.
Clearly, measures like these assist traders in making more informed selections about which collections to invest in. For starters, these metrics will disclose which collections on your NFTGo dashboard have the largest trading volume. In addition, you can discover which collections have rising floor prices and the most long-term holders, among other things.
What types of NFTs are whales purchasing? NFTGo the NFT analytics tool allows you to track smart money.
Tracking smart money is a strategy that many NFT traders swear by. In essence, smart money refers to wallets that have traditionally been lucrative. In other terms, tracking smart money in NFTs is keeping an eye on the wallets of whales (wallets with significant assets) to observe which NFT collections they are investing in.
People can also use the NFTGo watchlist to log several wallet addresses in one location. As a result, tracking smart money is now easier than ever.
The wallet tracker functions in the same way as the collection dashboard. That is, it comprises a lot of important parameters for each wallet address. This covers information such as holding value, profits, and losses.
As a result, consumers can obtain an accurate picture of how specific wallets have been working. So, if you’re looking for collections to start thinking about, you can immediately find out which collections whales are buying and holding. On the other hand, you can notice when whale wallets begin to sell specific collections.
Looking at whale wallets and aping into random NFT collections is obviously not a prescription for long-term success. Tracking smart money over time and identifying some significant collectors whose track record impresses you, on the other hand, can be really beneficial. And, at the very least, witnessing one or many whale wallets offering a collection at a high volume can be a clear sign not to buy a collection at that time.
NFTGo recommends watching other people’s watchlists as an advanced strategy. If you notice a large number of smart money wallets adding a specific NFT collection, this could indicate that individuals are looking at and possibly investing in that project.
Make an NFT dashboard.
Finally, there’s NFTGo’s NFT dashboard. While the collection dashboard aggregates whole collections, the NFT dashboard combines single NFTs inside a collection. This allows you to highlight a specific NFT that you like. You can also add NFTs to your dashboard based on attributes, rarity, or other criteria.
The NFT dashboard displays the latest price an NFT sold for, the collection’s floor price, and the NFT’s rarity rank inside that collection. Although users can favorite NFTs on marketplaces such as OpenSea and LooksRare, the NFT dashboard includes some valuable information in addition to the other NFTGo capabilities.
NFTGo includes a trading aggregator as well as other tools.
Overall, NFTGo has a lot to offer both expert and inexperienced NFT traders. To that purpose, in late June, the site revealed its impending trade aggregator.
To summarize, you can use the trading aggregator to purchase numerous ERC-721 and ERC-1155 NFTs in a single purchase. As a result, traders can lower the gas expenses they must pay when purchasing a large number of NFTs.
Not just that, but the trade aggregator may also assist you in locating the best price for all of the things in your shopping cart. It will automatically detect and eliminate any suspicious objects if that isn’t enough.
There are numerous NFT analytics tool available aside from NFTGo, both paid and free. Some will naturally be superior to others. That being said, the top ones will undoubtedly assist you in your quest to become a profitable NFT trader. If you want to take your trading technique to the next level, NFTGo’s feature-rich platform may be worth considering.
Disclaimer: We are not affiliated with the NFTGo in any form. It is simply a personal preference and which is very useful.