Cryptocurrency Development Tutorials, Guides & Insights

In this tutorial, you learned how to use Ethers.js to query ERC-20 token balances and how to leverage the Etherscan API to retrieve token transaction histories. These are essential techniques for building decentralized applications, wallets, or blockchain explorers that interact with ERC-20 tokens on the Ethereum network.

You now have the tools to query token balances and transaction histories programmatically, enabling you to create powerful blockchain-based applications.

We will use Axios to make HTTP requests to the Etherscan API. To install Axios, run the following command in your project folder:

npm install axios

To follow along, you’ll need the following:

• Node.js installed on your machine.
• Basic understanding of JavaScript.
• An Ethereum wallet (with private key or mnemonic phrase).
• (Optional) An Infura account to access the Ethereum network.

Although token burns can increase the scarcity of a token, they are not without risk:

• Overuse: If token burns are overused or if the project relies too heavily on them to drive up value, it can create instability in the market.
• Misuse: Token burns can be misused by projects to manipulate token value artificially, without creating any real underlying value or utility for the token.
• Irreversibility: Once tokens are sent to a burn address like "0x000000000000000000000000000000000000dead," they cannot be retrieved, even if the burn was done accidentally.

This code sets the leverage to 10x for the BTC/USD trading pair. Adjust the leverage value as needed.

A stop-loss order helps limit potential losses by automatically closing a position at a specified price level.