Go see this data for yourself. From using the below crypto tools, you will be able to see firsthand how active Bitcoin’s network is and how active a coins’ development team is.
Why is this important?
If you see lots of transactional activity on Bitcoin’s network, it can be an indicator for future price movement. Understanding how active Bitcoin’s network (or any other cryptocurrency’s network) is and validating a team’s development activity, will give you an edge over most traders.
To Gather Coin Insights, we highly recommend:
This site is a super underrated crypto tool. BitcoinVisuals is great for keeping up with the king of crypto, Bitcoin. Quickly see median fee costs per transactions, hashrate, and see for yourself how the network is doing from a technical perspective. For example if you see fees are down and the amount of miners is increasing, then you may have a good edge to purchase some coin. Also, if you see a news piece that claims Bitcoin is dying, you can go look for yourself.
This applies to all coins, not just Bitcoin. If a project’s development isn’t active, then it may be dead. Check up on a coin’s Github with CryptoMiso to confirm that they are still active. Ensuring that open-sourced projects are active is very important when analyzing a coin. If there is no activity, it may be a dead project.