Altcoins
Top Crypto Gainers Today on DEXTools – Data, CATBOY, SONA
Last Updated: February 26, 2024, 11:39 AM EST | 2 minutes of reading
Blue-chip cryptocurrencies hit new multi-month/year highs on Monday, but their impressive gains are dwarfed by the gains enjoyed by major crypto gainers in the on-chain shitcoin markets today.
Bitcoin (BTC) just crossed the $53,000 mark for the first time since late 2021, as part of an instinctive and short sell-off driven move.
Ether (ETH), meanwhile, last traded in the mid-$3,100s, both seemingly supported by ETF-related tailwinds.
Both BTC and ETH have lost almost 4% in the last 24 hours.
While this is impressive, it is nothing compared to the gains shitcoins can make over even shorter periods of time.
Indeed, due to their small market capitalization and liquidity, a little buying pressure can trigger big moves.
Here are some of the top crypto gainers today on the Ethereum on-chain market, according to DEXTools.
Top Crypto Gainers Today
Data token ($DATA)
A recently launched shitcoin called DataToken ($DATA) is up more than 11,000% on Monday, according to DEXTools.
But its still tiny market cap of just $165,000 suggests the token is nothing exciting.
$DATA last had approximately $185,000 in liquidity, approximately 300 holders, and $65,000 in 24-hour trading volumes.
Although it looks like a questionable coin, its audit record is impeccable and no smart contract issues have been identified.
Cat Boy ($CATBOY)
A shitcoin called Catboy ($CATBAY) rose almost 1,000% on Monday.
Its market capitalization was about $1.77 million, with about $440,000 in cash, according to DEXTools.
It has an impressive number of over 900 holders and has recorded 24-hour trading volumes of $1.2 million.
The token has been around for almost three months.
But it presents eight concerning smart contract issues, including a changeable tax, which last stood at 3%.
Sonata Network ($SONA)
Decentralized launchpad protocol Sonata Network ($SONA) suddenly reached new all-time highs over the past two sessions.
$SONA was last up more than 200% in the last 24 hours, according to DEXTools.
Its market capitalization was around $2.5 million, with around $300,000 in cash tied up.
Despite good progress in recent days, traders should remember that low-cap coins are almost always scams or scams.
Investors should therefore always carry out due diligence. No risk does not exist.
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 get 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 14 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.
Fuente