Altcoins
And today’s top crypto gainers on DEXScreener are…
Last updated: May 2, 2024 at 8:47 p.m. EDT | 2 minutes of reading
As blue-chip cryptos stabilize after a slide earlier this week, with Bitcoin (BTC) consolidating below $60,000, traders are turning to on-chain markets as they search for top crypto winners Today.
Bitcoin was last trading near $59,000 as traders digest recent macroeconomic developments. Negative ETF flows are also on the radar after BlackRock’s IBIT saw its first capital outflows since its launch in January.
Yesterday’s ETF flows were extremely negative.
We had $563.7 million in cash outflows.$GBTC had $167.4 million, Fidelity $191.1 million, Ark $98.1 millionBlackrock had its first negative day with $36.9 million.
After the price dropped from $61,000 to $56,000, this is no surprise… pic.twitter.com/cwBR8epxvF
– WhalePanda (@WhalePanda) May 2, 2024
Meanwhile, most major altcoins are also consolidating following recent selling pressures.
Sluggish conditions in the blue chip market are encouraging traders to turn to volatile and unpredictable on-chain markets.
On-chain markets refer to the market for assets that have been issued and traded directly on the blockchain.
Dozens of new tokens are launched every day. Most are pump and dump systems or scams. But there are a few gems yet to be discovered, which could offer an early investor quick gains of 10x or even 100x.
Traders often refer to tools like DEXScreener to locate trends and pump coins.
That being said, here are some of the top gainers in crypto today on Ethereumaccording to DEXScreener.
Top Crypto Gainers Today
Crypto criminal (FELON)
A just-launched shitcoin called Crypto Felon (FELON) has seen a whopping 72,000% increase since its launch.
It depends DEXScreener, which puts its market capitalization at $2.2 million. The token also has $170,000 in locked liquidity.
Surprisingly, given that the token is literally called Crypto Felon, it only has one smart contract issue.
But traders should assume that all newly launched tokens are scams and always exercise caution.
Yield (Yield)
Another newly launched shitcoin called Yield (YIELD) is up over 48,000% in 24 hours.
DEXScreener estimates its market capitalization at $2.2 million, with just over $200,000 in cash tied up.
Traders should be very careful with this shitcoin. It features five smart contract issues, including changeable tax and non-waiver property.
Bitcoin Book (BOOB)
Following the success of the Book of Ethereum meme coin, a new Book of Bitcoin (BOOB) token has been launched, with the added benefit of boasting a comical ticker.
BOOB’s market cap stood at $1.1 million, having increased by 29,000% in 24 hours according to DEXScreener.
The token has $120,000 in stranded liquidity and only one issue with its smart contract, whitelisting.
Traders should be aware that its official account was suspended, that’s never a good sign.
Alternative Investment Strategy to Consider – Pre-Sales
If traders can reliably identify shitcoin gemsthey can earn a lot of money.
But the neglected strategy of investing in pre-sales can potentially yield even higher gains if executed correctly.
Web3 projects/protocols often sell their native tokens at a discount to early investors to fund development.
If investors can reliably identify projects that, thanks to their strong vision, use case and competent team, eventually gain traction in the market, they can make big profits.
Knowing where to start is one of the biggest barriers to entering the dreaded pre-sale market.
That’s why Cryptonews has put together a list of its top picks.
20 Best Crypto Presales to Invest in
You can also watch this video from Crypto Arjay of Cryptonews, who reviews his top 3 meme coins. All are currently available for pre-sale.
Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.