With blue-chip cryptocurrency markets recovering on Friday as macro traders price back in multiple rate cuts for 2024 following the latest US jobs report, traders looking for top crypto gainers today continue to turn to the highly illiquid and volatile on-chain markets for opportunities.
On-chain markets refer to the market for crypto tokens and assets issued directly on the blockchain.
For example, Shiba Inu (SHIB), crypto’s second-largest meme coin, was issued as an ERC-20 token on Ethereum.
It can be traded off-chain on centralized exchanges, but the “real” SHIB trade all occurs on Ethereum.
Wallets can send these tokens between themselves, or SHIB can be traded on decentralized exchanges (DEX).
There is virtually no barrier to anyone launching their own token on a blockchain like Ethereum.
That’s why new meme coins and shitcoins are popping up all the time. New coins often post fast exponential gains – this is why traders flock to the on-chain market. To try to hit the jackpot.
But in these highly illiquid markets, a token can lose virtually all of its value in next to no time.
And that’s not the only risk. Most newly launched tokens are either scams or pump and dump schemes and have no long-term value.
Traders must always do their due diligence before investing. And traders must never risk more than they can afford to lose.
That being said, here are some top crypto gainers today on Ethereum, according to DEX analytics tool DEXScreener.
Top Crypto Gainers Today
Arky (ARKY)
A new dog meme coin called Arky (ARKY), which claims to be named after the Bitcoin founder’s dog, is pumping.
Last up 15,300% as per DEXScreener, it’s one of the top crypto gainers today.
https://twitter.com/Arky_Coin/status/1786257974639661389
The token last had a market cap of around $630,000 with around $100,000 in locked liquidity.
The token has two issues with its smart contract, so traders should be careful. That being said, the community appears to like this coin.
ARKY has 82 rock emoji votes on DEXScreener versus only 3 shitcoin votes and 7 red flag votes.
PEEPO (PEEPO)
A shitcoin called PEEPO (PEEPO) that has been around for over a year has suddenly sprung into life.
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— $PEEPO – OFFICIAL ARMY (@PEEPOCOIN_ARMY) April 23, 2024
As per DEXScreener, it just hit new yearly highs after pumping 320%.
The token’s market cap was last around $5.6 million, with around $930,000 in locked liquidity.
Having been around over a year, PEEPO probably isn’t a scam at this point. More of just a failed meme coin trying to make a comeback.
Three Protocol Token (THREE)
Three Protocol Token (THREE) is pumping on Friday, having gained 100% in 24 hours as per DEXScreener.
The decentralized marketplace-focused protocol’s token was last at a market cap of around $28 million.
The Three Protocol expansive roadmap has just been released:
Numerous AMAs
Rust on chain smart contracts
Jobs3 portal
Decentralised platforms rivaling Fiverr, Ebay, Uber, Autotrader and JustEat
$THREE Launch date 29th of April
Roadmap link:… pic.twitter.com/FtP9a0AAUj
— Three Protocol – Jobs3 (@ThreeProtocol) April 22, 2024
The token has amassed an impressive $800,000 in locked liquidity and only has one smart contract issue.
Alternative Investment Strategy to Consider – Presales
If traders can reliably identify micro-cap gems, they can make a great return.
But an often over-looked strategy can potentially net even higher gains if executed correctly. Investing in crypto presales/ICOs.
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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