Blue-chip cryptos like Bitcoin are stabilizing after a recent tumble, with Bitcoin consolidating below $60,000. Traders are now turning to the on-chain markets in search of top crypto gainers. On-chain markets refer to assets that are issued and traded directly on the blockchain, with new tokens being launched daily. While many of these tokens may be scams or pump-and-dump schemes, there are some hidden gems that can provide early investors with significant gains. Tools like DEXScreener are used to identify trending and pumping coins in the market.
Some of the top crypto gainers today on Ethereum, as per DEXScreener, include Crypto Felon (FELON) and Yield (YIELD), both of which have seen substantial gains within a short period. While these tokens have experienced significant pumps in their prices, traders are advised to exercise caution as newly launched tokens carry a higher risk of being scams. Another token, Book of Bitcoin (BOOB), has also gained traction with its humorous ticker and its market cap soaring by 29,000% in 24 hours. Traders should keep in mind that official accounts being suspended can be a red flag when considering investments in such tokens.
An alternative investment strategy that traders are exploring is investing in presales of Web3 projects/protocols, where native tokens are sold at a discount to early investors to fund development. If investors can identify promising projects with strong vision, use case, and competent teams, they can potentially earn significant profits. Despite the potential for higher gains, the presale market can be daunting for newcomers. To assist traders, Cryptonews has compiled a list of top picks for crypto presales that could be worth investing in. It is important for investors to understand the risks associated with investing in crypto, as it is a high-risk asset class.
It is noteworthy that recent negative ETF flows are also impacting the crypto market, with funds like BlackRock’s experiencing outflows. The overall market sentiment appears to be subdued, leading many traders to seek opportunities in the on-chain markets rather than the blue-chip cryptos. Traders are suggested to approach the volatile on-chain markets with caution and conduct thorough research before investing in any tokens. While the potential for quick gains exists in the crypto market, it is essential for investors to be aware of the risks and volatility associated with trading in digital assets.
As traders navigate the shifting landscape of the crypto market, there is a growing interest in meme coins and other tokens with unique features and humorous names. While tokens like Crypto Felon and Yield have shown impressive gains in a short period, traders must be aware of the risks involved in investing in such tokens. Additionally, staying informed about presales and potential investment opportunities in promising projects can help traders make informed decisions and potentially maximize their profits. It is crucial for traders to stay updated on market trends and conduct thorough due diligence before engaging in any investment activities in the volatile crypto market.
