3 Secret Tricks to Find Crypto Projects on Defi Llama
Defi Llama is one of the best free resources to find new crypto projects to research and potentially invest in. I will share three tricks I use for finding good projects.
Defi Llama is quickly growing to be one of the best resources for finding and learning about new crypto projects to research. It’s easy as a crypto investor to feel overwhelmed with over 10,000 crypto platforms to invest in. How do we find something with strong potential? Is it going to be a rugpull? Do other investors see potential in the platform?
Defi Llama can help point you in the right direction for these projects if you know what to look for. I check DeF Llama daily, and it’s one of the primary resources I use to find projects to invest in and write about.
So, let me share three secret tricks I use to determine where I will spend my time researching. If you haven’t visited Defi Llama yet, I’m confident you will have it bookmarked to your favorites by the end of this article.
Defi Llama Secret Trick #1: Discovering which chain to look at
Simply stated, you want to follow where the money is going in crypto. If you suddenly see a chain popping off, it may be a good idea to take a closer look at which projects reside on that chain.
But how do we determine which chains are growing and which are shrinking? It’s extremely easy with Defi Llama. First, you click the DeFi button on the left to see several subcategories. Next, you click on chains. A page will come up with all the major DeFi chains. Here’s a screenshot I’m taking while writing this.
This page contains loads of data, including how many protocols are on the chain, the total value locked (TVL), fees generated, and changes in TVL.
The metric that I look at is the 7d Change and 1m Change in TVL. If both numbers are green, money has been or is moving toward this chain.