In wake of the cryptocurrency market’s latest tumble which saw Bitcoin (BTC) drop convincingly below $60,000 for the first time since late February, traders are turning to the on-chain markets as they hunt for top crypto gainers today.
Bitcoin was last trading in the $57,000s as traders digest the latest Fed policy announcement. Negative ETF flows are also on their radar, with Bitcoin ETFs having seen outflows now for five straight days.
As per The Block, US ETFs have seen outflows now for five straight days.
Most altcoins are also in the red. That is encouraging traders looking to turn a quick profit to turn to the volatile, unpredictable on-chain markets.
On-chain markets refer to the market for assets that were issued and trade directly on the blockchain.
Dozens of new tokens are launched every single day. Most are pump-and-dump schemes or scams. But there are some gems to be uncovered, that could hand an early investor quick 10 or even 100x gains.
Traders often refer to tools like DEXScreener to locate trending and pumping coins.
That being said, here are some of the top crypto gainers today on Ethereum, as per DEXScreener.
Top Crypto Gainers Today
AITaxBot (AITAX)
A newly launched crypto called AITaxBot (AITAX) is up 1800% on Wednesday, as per DEXScreener.
The shitcoin last had a market cap of $370,000, with $130,000 in locked liquidity, with volumes so far of $520,000.
The token has four concerning aspects to its smart contract, as per Go+ Security. Investors need to be cautious.
America (AMERICA)
A meme coin called America (AMERICA) that was launched three days ago continues to push higher.
It was last up 220% in the past 24 hours, with a market cap of $5.1 million as per DEXScreener. It also has a solid $260,000 in locked liquidity.
The meme coin has been on a donating spree to US veterans.
BREAKING: $AMERICA (@0x1776America) on ETH has Officially Donated $10,000 to Veterans in the First 24 Hours of Launch!
Support this amazing team BELOW!
ca: 0x1776B223FF636D0d76aDF2290821f176421DD889 pic.twitter.com/KefPhZ94Hj
— Donald J. Trump News (@DonaldTNews) April 30, 2024
Donations to good causes are an interesting and commendable marketing strategy for a meme coin.
That could explain why AMERICA keeps pumping. Hopefully, it sets a trend.
The token has two smart contract issues, as per Go+ Security.
Book of Ethereum (BOOE)
A meme coin called Book of Ethereum (BOOE) challenged its record highs on Wednesday following a 50% intra-day gains.
That according to DEXScreener, that puts its market cap at $3.3 million and liquidity at $270,000.
As it was written…$BOOE | @Bookof_Eth is sending
Towards 100m – It shall not be denied!
Set your sails accordingly https://t.co/UO0Bjh1mGW pic.twitter.com/Ei1eT4ZsyY
— Uncle Bob Crypto (@unclebobcrypto) May 1, 2024
BOOE has no issues with its smart contract and appears not to be a scam. That being said, investors must always do their due diligence and remember that the vast majority of newly launched coins do not retain long-term value.
Alternative Investment Strategy to Consider – Presales
If traders can reliably identify altcoin gems, they can make a lot of money.
But the over-looked strategy of investing in presales can potentially net even higher gains if done 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, end up gaining traction in the market, they can make big profits.
Knowing where to start is one of the biggest barriers to entry in the daunting presale market.
That’s why Cryptonews put together a list of their top picks.
20 Best Crypto Presales to Invest In
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