Solscan for in-depth Analysis
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Solscan is an easy to use block explorer specifically designed for the Solana blockchain. It allows users to track every transaction, wallet, and token movement happening on-chain. By leveraging Solscan traders can identify patterns, validate tokens, and track wallet activities effectively.
Real-Time Transaction Feed: View blockchain activity as it happens.
Comprehensive Search: Locate wallets, tokens, and transactions with ease.
Dashboard Insights: Access critical Solana network data such as SOL supply, epoch, and total transactions.
Each Solana transaction contains detailed information that helps traders assess its legitimacy and impact.
Enter the Transaction Hash:
Open Solscan.io and enter the transaction hash in the search bar.
Key Transaction Components:
Signature: The unique identifier of the transaction.
Block Number: The point in Solana's history where the transaction is recorded.
Timestamp: The exact date and time of the transaction.
Result: Whether the transaction succeeded or failed.
Signer: The wallet that initiated the transaction.
Transaction Actions: Displays the details of the token swap, transfer, or stake.
Fee: The cost required to process the transaction.
Priority Fee: The additional fee paid to expedite the transaction.
Solscan serves as an essential tool for conducting a thorough investigation on tokens before copy-trading.
Search for the Token Contract Address:
Enter the contract address in Solscan's search bar.
Analyze Key Metrics:
Basic Stats: Includes market cap, total supply, and holder count.
Transfers: Tracks all buy, sell, and movement activities.
DeFi Activities: A user-friendly interface to monitor token transactions.
Holders: Helps identify if a few wallets hold a significant supply, which could indicate manipulation.
Spotting Red Flags:
Look for bundled wallets holding identical percentages.
Observe unusual trading activity and large token movements.
Each wallet on Solana tells its own story. Solscan enables users to analyze wallet activity for valuable insights.
When analyzing a wallet on Solscan, several key metrics provide valuable insights:
SOL Balance:
Displays the available SOL in the wallet, providing insight into the wallet's liquidity and its ability to execute future trades.
High balances may indicate potential for large trades, while low balances could suggest recent withdrawals or inactivity.
Token Holdings:
Shows all tokens stored in the wallet along with their respective quantities.
Useful to determine diversification and exposure to different assets.
DeFi Activities:
Lists transactions related to SPL tokens (Solana-based tokens), such as token swaps, transfers, and liquidity provisions.
Helps identify patterns in trading behavior across decentralized exchanges.
Portfolio Overview:
Provides an in-depth look at all token holdings with their market values and potential unrealized gains/losses.
Useful for understanding the wallet’s overall exposure and investment strategy.
Applying Filters for DeFi Activities:
Filter transactions by time, action, and platform to detect trading patterns.
Analyze wallet trends to determine whether the user engages in scalping or long-term holding.
Navigate to Solscan.io and enter the wallet address in the search bar.
The wallet's page will display an overview, including SOL balance, token holdings, and transaction history.
The DeFi Activities Tab provides detailed records of the wallet's interactions with DeFi platforms.
Signature: A unique identifier for each transaction.
Time: Indicates when the transaction occurred.
Action: Buy, sell, swap, or transfer.
From: The sender wallet.
To: The recipient wallet.
Amount: Number of tokens exchanged.
Value: Transaction’s USD value.
Platform: The decentralized exchange (DEX) where the trade occurred.
Source: The originating DEX for the trade.
Solscan provides powerful filtering options to help traders analyze a wallet’s trading activity more effectively:
Filter by Time:
Click the clock icon to analyze wallet activity within a specific period.
Helps detect trading behavior over different market conditions.
Filter by Action:
Choose specific actions like token swaps to focus on trading strategies.
Determine if the wallet engages in frequent buying/selling of specific tokens.
Filter by Platform:
Analyze interactions with platforms like Raydium or Pump.fun.
Useful to identify which exchanges the wallet prefers.
By reviewing transaction frequency, asset allocations, and trading behaviors, you can detect:
Scalping or Sniping:
If the wallet engages in frequent, small trades, it may be a scalping bot.
Look for high transaction counts within short timeframes.
HODLing Strategies:
If the wallet holds onto tokens for extended periods, it follows a long-term investment strategy.
Pump-and-Dump Indicators:
Sudden high-volume buys followed by mass sell-offs could indicate market manipulation.
Wallet analysis extends beyond tracking the wallet itself; it also provides valuable insights into specific tokens that the wallet interacts with. By analyzing token activity, traders can detect potential trends, market manipulations, and profitable opportunities. Below are detailed steps for investigating a token through wallet interactions.
Before diving into the token's data, the first step is to retrieve its contract address.
Locate the token within the wallet's holdings on Solscan.
Hover over the token name to reveal the contract address.
Copy the contract address for further analysis in Solscan.
Alternatively, click on the token name to navigate directly to its detailed page.
Once you have identified the token you wish to analyze, Solscan's DeFi Activities Tab offers an effective way to track token transactions in a time-sensitive manner. This section provides valuable insights into how the token has been traded over time and helps identify key trading patterns.
Search for the token using its contract address on Solscan.
Once the token's page loads, click on the DeFi Activities Tab to access its transactional data.
Here, you can analyze the movement of the token across various wallets and trading platforms.
Solscan provides a useful feature to track transaction timestamps with precision. This is especially valuable when analyzing highly volatile tokens.
Click on the Time button within the DeFi Activities tab.
The displayed timestamps will change to the HH:MM:SS format, offering an exact breakdown of each transaction.
This feature helps determine whether a wallet is engaging in high-frequency trades such as sniping or farming.
Solscan allows users to filter transaction history based on specific time periods, which is critical when analyzing tokens with high volatility.
Use the Time Filter option to narrow down the transactions within a defined timeframe.
This is particularly useful when the token experiences rapid buy/sell actions, as Solscan displays only the latest 100 pages of data.
If your mirror trade falls outside the displayed range, the filter will help in pinpointing it.
After narrowing down the time frame, traders can search for specific wallet transactions using their buy signatures.
Identify the wallet that initially purchased the token.
Copy the wallet's buy signature, which is a unique identifier associated with each transaction.
Use the browser’s search function (Ctrl + F) to locate the wallet's buy order within the displayed transaction list.
Example: Wallet AG9cLeM8JaJ61TZbPbgDWXgCJkSuPXG4FSgY5wQnsaHj first traded Token SNAKE2025 at 10:29:23 UTC, so we will use this timestamp to filter results. Once we find the buy signature, we can track subsequent movements.
Once the transaction is located using the buy signature, traders can analyze what happened in the time interval between the buy and the sell.
Identify the token buy transaction and note its timestamp.
Search for the corresponding sell transaction within the same wallet.
This provides valuable insights into holding periods and potential exit strategies.
Set Show to 100 Transactions Per Page:
This ensures a broader view of trades, reducing the need for frequent page navigation.
Analyze Market Movements Over Time:
Filtering trades by time helps detect token price fluctuations and liquidity shifts.
Identify Profit Patterns:
Comparing buy and sell timestamps reveals potential profit-taking strategies used by successful traders.
Identifying related wallets is crucial to gaining a complete understanding of a trader's broader strategy.
Some wallets, such as those funded by centralized exchanges (e.g., Binance, Coinbase), cannot be tracked further due to off-chain management.
Example: Wallet: AG9cLeM8JaJ61TZbPbgDWXgCJkSuPXG4FSgY5wQnsaHj earned over $21,000 in 7 days but has no SOL left, indicating funds were moved to another wallet.
Steps to Investigate Untrackable Wallets:
Identify Parent Wallets:
Locate the wallet that initially funded the analyzed wallet:
Track Profit Destinations:
Analyze outgoing transactions to wallets:
isOnCurve = False means the wallet address is program derived and does not have a corresponding private key.
Unlike exchange-funded wallets, trackable wallets provide valuable insights for copy-trading.
Example: Wallet: A profitable wallet made $5,500 in a day but currently has no SOL.
Steps to Investigate Trackable Wallets:
Analyze the First Deposit:
Identify the source of funds to the wallet:
Track Outgoing Transfers:
Track Outgoing Transfers:
Find related wallets that are still active:
Mastering Solscan is an essential skill for any OdinBot user aiming to optimize copy-trading strategies. With consistent practice, users can identify high performing wallets, avoid risky trades, and improve profitability.
Regularly monitor wallets and token activity.
Investigate tokens before making trade decisions.
Use filters to refine your copy-trading strategy.
