Bitget and Nansen Research Release Report on Token-Discovery Strategies

Bitget, a cryptocurrency exchange and Web3 company partnered with Nansen Research, a blockchain analytics platform, to release a report on token-discovery strategies.

Cryptocurrency exchange Bitget has joined forces with blockchain analytics platform Nansen Research to release a report on token-discovery strategies. The report is designed to provide traders with key insights and methodologies for investing in early-stage and chain governance tokens.

The report assesses two main data sets linked to token prices. For early-stage tokens, it analyzes factors such as on-chain trading volume, community strength, technology, tokenomics, and security. For established chain governance tokens, metrics like chain fees and Total Value Locked (TVL) serve as reliable price indicators. Moreover, Nansen’s social sentiment data from Discord shows a correlation with weekly token price movements, offering traders with valuable investment insights.

Bitget and Nansen disclose their evaluation methodologies, emphasizing off-chain metrics and market traction for early-stage tokens while utilizing on-chain metrics to predict prices for established tokens. Identifying promising early-stage tokens, or “hidden gems,” is particularly challenging due to limited data. Bitget’s approach, highlighting market traction and on-chain trading volume, has led to substantial user growth and the listing of over 180 tokens since April 2024 via its new products, PoolX and Premarket.

Bitget’s listing strategy combines aggressive and conservative approaches, prioritizing high-quality projects while capitalizing on lucrative opportunities. The exchange carries out a quantitative evaluation process, integrating market traction, community sentiments, technological innovation, token economics, and ecosystem security. Bitget’s automated on-chain data monitoring system identifies trending tokens early, ensuring timely access for users.

“We aim to balance aggressive and conservative listing strategies, ensuring we prioritize high-quality projects while capturing lucrative opportunities,” said Gracy Chen, CEO of Bitget. “Our collaboration with Nansen enhances our ability to empower traders with the knowledge needed for informed investment decisions in the evolving cryptospace.”

Nansen’s research highlights the importance of TVL and fees in ETH as predictors of price changes. While social sentiment data from Nansen’s Alpha Discord channel shows some correlation with weekly token prices, the combination of on-chain, off-chain, and qualitative data offers a more comprehensive market analysis.

“Our collaboration with Bitget provides a dual approach to token evaluation,” said Aurelie Barthere, research analyst at Nansen. “Bitget focuses on community strength, security, and innovation for early-stage tokens, while Nansen excels in on-chain data analysis. This combined approach offers a clearer picture of a project’s true potential.”

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