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This strategy of evaluating various altcoins based on their TVL in relation to their market cap is how I identify hidden gems within the cryptocurrency sphere.
Tool #4: Arkham and Tracking Major Players
The final tool that I've found invaluable is Arkham, which offers the ability to follow major market players. Each cryptocurrency possesses a unique blockchain address, allowing for public tracking of all trades, purchases, and sales made by well-known figures.
For instance, when investigating Vitalik Buterin, the creator of Ethereum, one can trace all his portfolio movements and trades. If I notice a sudden surge in purchases of an obscure altcoin by Vitalik, it could indicate an impending opportunity, motivating me to explore that asset further.