Crypto influencer “Coin Bureau” (“@coinbureau” on Twitter) is offering some tips for spotting the next big altcoins.
In a recent video titled “Where To Find 100x Tokens Before It’s TOO LATE!!”, the show’s host predicted the current bull rally was coming to an end, making it paramount for investors to find the last remaining altcoin gems.
Coin Bureau recommended looking into assets powered by Binance Smart Chain (BSC), and told followers he was using decentralized finance (DeFi) leaderboard and analytics website DeFi Station to find more information on DeFiprojects on BSC. He noted that DeFi Station lets users know if the protocols it keeps track of have been audited or not.
The popular analyst also told investors if they wanted to find the next 100 altcoins, their “best bet” was to examine the “Yield Farms” list of BscScan. He reminded followers of the high-risk, high-reward behavior of DeFi products and that most altcoins would undergo extreme gains before making it onto mainstream exchanges.
He said:
“Although some of these projects have already been labeled as possible rug pulls, there is no way of knowing whether that designation was made by a competing project. That means it’s going to be on you to figure out whether these up-and-coming CeDeFi (bridging of centralized and decentralized finance) protocols are rug pulls or not…
“Once you’ve identified a CeDeFi token that looks promising, the next step is to buy it. Most of the time, the CeDeFi token you’re looking for will only be available on PancakeSwap and possibly a few sketchy centralized exchanges that you should stay away from at all costs. If the CeDeFi you’re looking at has already listed on a reputable exchange like Binance, it probably has its most extreme gains behind it already.”
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.