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This guide walks through a structured due diligence sequence for evaluating a token. The flow is designed to take you from initial orientation to a complete analytical picture, using one Command per step. The sequence is not prescriptive — analysts adapt it to their specific theses. It is offered as a reliable starting point.

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Before you begin

You will need:
  • The token’s name or symbol (e.g. SOL, ETH).
  • A clear question you are trying to answer (e.g. “Is this a viable allocation candidate?”, “Why is volume spiking today?”).
The question shapes which Commands you spend the most time in.

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The full sequence

1

Orientation — Token Description (TKD)

Open Token Description (TKD) ↗ for high-level summary, key attributes, and market data.What to look for: market cap, current price, supply at a glance, listed exchanges, network(s) the token operates on, and the date of first listing or launch.
2

Supply structure — Tokenomics (TKE)

Move to Tokenomics (TKE) ↗ to understand supply mechanics.What to look for: total supply, circulating supply, emission schedule, inflation rate, vesting schedules, and unlock events. Material upcoming unlocks are often the most actionable signal.
3

Funding and history — Fundraising (FRS)

Open Fundraising (FRS) ↗ to review the token’s funding history.What to look for: funding rounds, valuations at each round, named investors, and total raised. This provides context on backers and historical valuation marks.
4

Holder analysis — Ownership (OWN)

Move to Ownership (OWN) ↗ to examine distribution.What to look for: holder concentration (top 10, top 100), exchange holdings, smart contract holdings, and notable wallet activity. High concentration is not inherently negative but always worth understanding.
5

Valuation context — Valuation (VAL)

Open Valuation (VAL) ↗ for cross-chain valuation context.What to look for: market cap and fully diluted valuation across chains, and how these compare to peers in similar categories.
6

Cross-chain presence — Multichain Monitor (MTM)

If the token is multichain, open Multichain Monitor (MTM) ↗.What to look for: distribution of supply and activity across chains, and whether the token’s activity is concentrated on one chain or distributed.
7

Activity and liquidity — Live Trades (LTD) and Market Liquidity Analysis (MLA)

Examine current trading behavior with Live Trades (LTD) ↗ and depth with Market Liquidity Analysis (MLA) ↗.What to look for: live trade size distribution, buy/sell pressure, liquidity depth at various price levels, and major venues by volume.
8

Flow signals — CX Whale Tracker (CWT)

Open CX Whale Tracker (CWT) ↗ to examine CEX flows.What to look for: net inflow or outflow patterns at major exchanges, which can indicate accumulation or distribution.
9

Performance — Performance Analysis (PFA)

Close with Performance Analysis (PFA) ↗ to contextualize returns.What to look for: performance across multiple time frames, drawdowns, and comparison to relevant benchmarks.

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Adapting the sequence

The full sequence is appropriate for first-time evaluation of a candidate asset. For other situations:
  • Re-evaluating a held position: focus on OWN, MLA, CWT, and PFA. The structural Commands (TKE, FRS) are unlikely to have changed materially.
  • Investigating an unusual move: start with LTD and CWT, then move to OWN if large-holder activity is implicated.
  • Sector comparison: apply this sequence across multiple tokens, or use Token Comparison (TCP) ↗ for direct side-by-side.

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What to do next

After completing the sequence:
  • Save the token to a watchlist if it warrants ongoing tracking.
  • Set alerts on conditions material to your thesis — large unlocks, unusual volume, whale movement.
  • Document your findings. Peak provides the data; the analysis lives in your notes.

For Research Analysts

The broader research workflow this sequence supports.

Portfolio & Watchlist Setup

Organize ongoing tracking after due diligence is complete.