As Bitcoin (BTC) pushes back to the north of $64,000 on anticipation that the imminent launch of spot Bitcoin and Ether (ETH) ETFs in Hong Kong might inject fresh bullish impetus into the crypto market, on-chain markets are heating up and attracting traders in droves as they hunt for top crypto gainers today.
An executive at China AMC was confident that Hong Kong’s first day of issuance could best that of the US.
China AMC is pretty confident that HK can outdo the US in bitcoin ETF flows and volume on Day One (which starts in a few hrs). Also says other regions like Singapore and Middle East could seek out the ETFs altho confirmed off limits for China mainland invs https://t.co/J2YwF9LMZU pic.twitter.com/TRXRNNthBC
— Eric Balchunas (@EricBalchunas) April 29, 2024
China AMC is one of the issuers of the new ETFs in Hong Kong.
Whether that will be enough to drastically shift the narrative for Bitcoin and Ether remains to be seen.
Bitcoin remains locked near the mid-point of its multi-month $60,000-$74,000ish range.
With Bitcoin locked within recent multi-month ranges, traders are turning to altcoins for top crypto gainers today. Source: TradingView
Ether, meanwhile, remains locked in a gradual downtrend from its March highs.
With Ether trending lower, traders are turning to altcoins for top crypto gainers today. Source: TradingView
Macro remains a headwind for crypto right now. Recent data out of the US has shown weaker-than-expected growth, but hotter-than-expected inflation.
That’s a bad combination for risk assets and complicates the outlook for Fed rate cuts.
Indeed, fading rate cut bets has been one reason for major cryptos losing bullish momentum in recent weeks.
With blue-chip cryptos likely to continue trading with a lack of impetus, on-chain markets are becoming more attractive.
That’s because on-chain markets are highly illiquid and volatile. Traders can quickly lose everything.
But just as quickly, if they are smart/lucky, traders can make a small fortune.
On-chain markets refer to the tokens that are issued directly on-chain.
Most are scams and pump-and-dumps. But hidden in the mountain of excrement, traders can sometimes stumble across gems and bag big gains.
Here are some top crypto gainers today that traders will be monitoring, as per DEX monitoring DEXScreener.
Top Crypto Gainers Today
Three Protocol Token (THREE)
An overly complicated and difficult-to-understand AI shitcoin called Three Protocol Token (THREE) is pumping since its Monday launch.
It was last up over 280,000% in the past 24 hours, as per DEXScreener, with $15 million market cap.
The token has around $570,000 in locked liquidity.
Liquidity Locked!
The liquidity on UniSwap for the $THREE token has just been locked for 18 months on @UNCX_token
Locker: https://t.co/NyNlMPJ3Cf
Trade $THREE with complete confidence: https://t.co/dHyZhuiDfX pic.twitter.com/pA46L7kyN0
— Three Protocol – Jobs3 (@ThreeProtocol) April 29, 2024
But that doesn’t mean the token won’t be a rug pull or scam. Indeed, it has three concerning aspects to its smart contract, including a 100% sell tax.
BNDR ($SWIPES)
Project discovery app BNDR ($SWIPES) had a strong first day of trade on Monday.
Some Numbers
Within 3 hours $Swipes has reached:
+$1,500,000 Volume
+250 Holders
Discover Your Next Project, In Just A Few $Swipes pic.twitter.com/25rWPcwhZI
— Bndr.ai (@Bndr_AI_) April 29, 2024
As per DEXScreener, it already has a market cap of $26.6 million and $560,000 in locked liquidity.
Liquidity successfully locked!
This move demonstrates our dedication to transparency and building a strong foundation for $Swipes
Liquidity Locked: https://t.co/oZYq61hDXr pic.twitter.com/pMcC9nsb3D
— Bndr.ai (@Bndr_AI_) April 30, 2024
Over 300 unique wallets have already traded the token, which has already seen over $1.6 million in 24-hour trading volumes.
But the token has a concerning seven issues with its smart contract, as per Go+ Security. It could easily be a highly sophisticated and well-executed pump-and-dump scheme.
America (AMERICA)
A new meme coin based on the USA has seen a 13,000% pump since its launch, as per DEXScreener.
It last had a market cap of around $660,000, with $85,000 in locked liquidity.
The meme coin doesn’t appear to have any major smart contract issues and liquidity is locked.
That being said, this token has no clear utility and is probably just a pump-and-dump. Traders who buy this token could quickly lose everything.
Alternatives to Consider – Crypto Presales
Investing in the on-chain markets is fraught with risk.
An alternative often overlooked but frequently profitable crypto investment strategy is investing in presales.
Up-and-coming web3 projects often conduct ICOs in order to raise funds for project development.
To attract early interest/investors to their project, they usually sell these tokens at a very low market cap.
That offers presale investors the chance to make big gains.
With so many projects vying for investor funds, it can be tough to know where to start.
Luckily, analysts at Cryptonews.com spend a lot of time combing through the altcoin market in search of high-potential projects.
Here are some of their favorite picks in the market right now.
21 Best Crypto Presale Projects for April 2024
Alternatively, see Cryptonews analyst Crypto Arjay’s top picks in the below video.
The post Top Crypto Gainers Today on DEXScreener – THREE, $SWIPES, AMERICA appeared first on Cryptonews.