Altcoins
Top Crypto Gainers Today on DEXScreener – RWA, PoP, PARO
Last updated: April 11, 2024 at 9:19 p.m. EDT | 3 minutes of reading
On a boring day in the blue chip cryptocurrency markets where Bitcoin (BTC) moved sideways in the $70,000 to $71,000 zone and Ether (ETH) was limited in the $3,500 zone, traders instead turned to the highly volatile and illiquid micro-cap on-chain markets to seek out the top crypto gainers today.
Although considerably riskier than spot markets for major cryptocurrencies, on-chain markets offer the opportunity for quick gains.
Recently launched micro-cap cryptos traded on on-chain markets regularly post 20-100x winnings in just one day.
That being said, it is not uncommon for these cryptos to drop 90% or more in one day.
In such illiquid markets, a few large buy or sell orders can trigger huge price movements.
But on-chain markets carry far more risk beyond their low liquidity and volatility.
Indeed, given that there are virtually no barriers to a blockchain user launching their own coin, the vast majority of tokens launched each day are scams, pumps and dumps or rug pulls .
In other words, they are a way for scammers to offload their worthless tokens onto unsuspecting victims.
On-chain micro-cap markets are therefore extremely risky. It is essential that traders do their own research before purchasing tokens.
And even if they believe they understand a token/project well, traders should never invest more than they can afford to lose. Even the most legitimate new projects and tokens can turn out to be scams.
Let’s take a look at some of the top crypto gainers today in the Ethereum chain markets.
Top Crypto Gainers Today
RWA-AI (RWA)
A just-launched token that claims to sit at the intersection of two major themes in crypto, the tokenization of real world assets And AIcalled RWA-AI (RWA), pumped hard on Thursday.
https://twitter.com/RWA4AI/status/1778405387126865985
Since its launch earlier today, it is up 6,000%, with a market cap of $688,000.
It depends DEXScreenerwhich puts its liquidity at $170,000 and its 24-hour trading volume at $640,000.
Go+ Security, however, identifies five concerning aspects of its smart contract. Traders should be wary that this could be a scam.
PondPay (PoP)
A shitcoin called PondPay (PoP) is circulating for a second consecutive day.
Today marks a monumental milestone for us.
This is the start of a new era in the world of crypto payments. For the first time, you can now access a refund option and send payments securely, even between anonymous Web3 users, with PondPay. pic.twitter.com/V9TAN05vjO
– PondPay (@pondpay_ai) April 12, 2024
According to DEXScreenerit is up 567% in the last 24 hours, with a market cap of $674,000.
The token last had liquidity of $358,000 and over $1 million in 24-hour trading volumes.
Traders should pay attention to this coin. It only has two smart contract issues, identified by Go+ Security.
But there are spelling mistakes in his bio on DEXScreener. Additionally, out of the 8 votes left for DEXScreener users regarding the coin, 5 are red flags.
Obviously, we don’t really believe that this piece has any real use.
Parobot (PARO)
A new shitcoin called Parobot (PARO) is up 356% one day after its launch, according to DEXScreener.
The token last had a market cap of $322,000, with $260,000 in locked liquidity and $1.9 million in 24-hour volumes.
Traders should be wary of the token. Go+ Security shows that token transfers are suspended and there is a 4-5% buy/sell tax.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
A seemingly innocent project could easily turn out to be a scam, and a few large sell orders could easily drop the price by 80%.
A strategy that is still risky, but arguably offers a better risk-reward ratio is getting involved in crypto presales.
The idea is that investors get tokens from promising, high-potential crypto projects/protocols at a discounted anticipated price.
These projects then put these funds to use, financing the development and commercialization of the protocol.
Although many things can go wrong when investing in cryptocurrency presales (unforeseen circumstances can prevent a project from realizing its vision), savvy presale investors routinely achieve gains of 10x or more.
With hundreds of pre-sale projects vying for investor funds, Cryptonews analysts have been combing the market.
Here are 17 of the pre-sale projects with the greatest potential.
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.