Powerful addition to NFT tracking
EtherDrops, a popular tool to monitor on-chain activity, has introduced a new setting to track NFT pump and dump activity. The new addition is designed to provide users with real-time insights into activity with NFTs, allowing them to make informed trading decisions.
NFTs have become a popular investment vehicle in recent years, with some collections selling for millions of $. However, the market has also been plagued by pump and dump schemes, so it is crucially important to stay up to date with the market.
The new tool from EtherDrops is designed to help traders identify pump and dump activity in real-time, allowing them to take action before prices plummet or rise. The tool works by analysing collective or individual activity with NFT`s. As an example, you can see a specific collection being bought or sold in noticeable quantities.
Apart from this, users can also analyse the data themseves, by checking the transactions and taking a closer look at the affected collection, and whether the price has been affected at all.
As NFTs continue to gain popularity as an investment vehicle, tools like this will become increasingly important for traders looking to make informed decisions and protect their investments.
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