Solana is a hugely popular blockchain for NFTs, with millions of active wallets all over the world. With a total volume locked of 4.1 billion dollars, to say that Solana is rapidly growing would be a huge understatement. A big contributor to this growth is due to NFTs.
With the help of apps like Hello Moon, now anyone can analyze the Solana blockchain like a veteran. For traders, this app can help you make wise trading decisions if your trading philosophy involves spotting trends.
Most people make decisions as a result of the noise and hype they read from the news, or Twitter posts from ‘Solana influencers’. This is not a great long term strategy. Luckily, there are a handful of tools that you can use to become a better trader. Enter HelloMoon!
Solana Analytics
Hello Moon helps Solana users analyze blockchain data, regardless of how technical they are. By translating raw data available into a visual dashboard, it is easier for people of all skill levels to use as a companion when buying or selling Solana NFTs.
A perfect case for using Hello Moon is in checking the price action of your favorite NFT collection.
Lets say that you have recently discovered that an NFT you own is going down in floor price by the minute. Instead of running to connect your wallet to sell (i.e. “paperhand”) it, you decide to check the price action of the NFT using the Hello Moon Data visualizer dashboard.
In this beginners guide, we are going to teach you how to use Hello Moon on Solana. We’ll start by going over the main features and show you how to use each one to your benefit. With that being said, let’s jump right in.
Solana Blockchain Metrics
If you’ve ever been curious about how to analyze the activities happening on Solana blockchain, Hello Moon has a great tool for that. This fancy dashboard takes data directly from the Solana blockchain and transforms it into pleasant interfaces like the graphs and charts shown below.
Metrics like total number of unique signers on Solana are displayed graphically. Some other parameters are also visualized in this section. For example, the Unique SOL lender, Average Wallet SOL balance, the total SOL volume processed within particular time frames are some examples of the data available.
Solana NFTs on Hello Moon
One of the main features of Hello Moon is the Solana NFT analytics. By selecting the NFT of your choice, you can gain access to important information that helps you make informed decisions prior to buying or selling an NFT.
Some of the data you can comb through includes the Floor Price of the collection, its 24-hour sales volume, and even a wash trading index score.
You can search for an NFT collection instead of scrolling down by selecting the search box located at the top of the page next to the Connect Wallet button.
Technical Analysis with Hello Moon
DegenSwings is a popular influencer in the Solana twitter community that uses Hello Moon to perform technical analysis on various Solana NFTs. In this series of tweets, DegenSwings shares some TA about DeGods, a popular Solana NFT known for buying a professional basketball team.
As you can see, Hello Moon can be a valuable tool for those who want to perform their own Trend Analysis for Solana NFTs!
Solana DeFi on Hello Moon
“What if NFTs aren’t my thing and I want to ’DeFi’”? Hello Moon’s got you.
In the DeFi section, you can track DeFi platforms and their stats on Solana. You can also view
In the DeFi token leaderboard, you see the list of the tokens used on the DeFi platforms in the Solana ecosystem. This includes SOL, USDC, USDT, mSOL, stSOL, RAY, and more.
DeFi Program Leaderboard
Another nice feature is the ability to view stats for entire Solana programs, not just wallets.
These are the DeFi plaforms used to facilitate the automated decentralized finance systems build on Solana. Some of the platforms listed include: the
Digging deep into Solend, you get a closer view of the Volume, the current active users and the number of new users using the DApp. On the right side, you can see the transactions people are performing on the application.
The image below is a more detailed graphical representation of the platform.
Smart Money Inflow
This section gives you an idea of where traders are moving their capital. Out of all of the indicators provided by Hello Moon, this is one of our favorites.
DeGods on Hellomoon
One of the top collections on Solana blockchain is DeGods NFT. For a 10,000 collection, DeGods have a strong floor of 348 SOL and a market cap of $121.13M, as shown on Hello Moon:
Apart from the different charts shown underneath, you can see the top holder’s wallet. (The Solana Burn Address was the one used to burn some of the DeGods NFT that were previously in circulation due to the Paper Hand B*tch Tax system used before). Can you spot SOLBigBrain? Dude’s everywhere!
Wash Trading is the process whereby a particular user uses their own funds to acquire their asset (NFTs in this case) so as to fool market watchers of the price of that asset or to make them think there is high demand for that asset. Imagine a case where someone sells their DeGods NFT to themself for 500 SOL and then list it for 300 SOL when the floor price is 200 SOL. It is easy for someone else to quickly pick it up thinking they have got a good discount for a rare NFT. Sike.
Hello Moon provides an easy way to spot wash trading on Solana NFTs. Simply click through a project (we are using DeGods as an example)
Social Trading
Smart Money inflow is a subsection of Socials. This encapsulates every from of trading performed by some of notable people in the Solana ecosystem.
Have you ever thought of copy trading Jagoe? Or try some Degen plays like The Solstice and 0xFunction?
With this Hello Moon Socials feature, from token sales to NFT trading, these traders’ activities are documented. Users can monitor the feed and see real time transactions from people who have linked their Twitter account e.g., “0xGabriele sells SOL for $37”, “hankobaggins sells Orca”… and so on.
Hello Moon in their novelty has linked these selected accounts with their wallets. With this knowledge you can enter and exit your trading position with discretion.
Portfolio Tool: Analyze your Solana assets
In this section, you can analyze the assets you have in your personal Solana wallet. After you have connected your wallet successfully, a summary of the worth of the wallet’s contents is presented on the page. There are sections such as the purchase price, Total USD Estimated Value etc. dedicated to giving the actual account of whatever is in one’s wallet.
In the NFT category under the Portfolio section, you can see new data like the date in which the NFT was acquired.
As shown below, I do not have any staked NFT there is no item there or else its value would have been displayed too.
Your Solana SPL tokens are displayed along with their worth also, just like the NFTs.
Conclusion
Hello Moon is a top tier Solana tool that deserves all the love! This is a must-use app for anyone who wants to make money buying/selling Solana NFTs, and definitely one of the best analytics tools on Solana.