The cryptocurrency markets were in turmoil due to geopolitical tensions in the Middle East, leading to declines in most major altcoins. Traders turned to on-chain shitcoin markets, which offer the potential for significant gains within 24 hours. With tensions escalating between Iran, Israel, and the US, Bitcoin remained relatively stable compared to other cryptocurrencies, dropping only 4.5% to $67,000. Bitcoin is increasingly being viewed as a digital safe haven, and its value could potentially increase if tensions in the Middle East escalate further. However, with the halving approaching and fading bets on Fed rate cuts, investors may be cautious about entering the market and instead exploring opportunities in the volatile on-chain shitcoin markets.
On-chain markets involve tokens issued directly onto blockchains like Ethereum and Solana, with the term “shitcoin” referring to tokens that are often scams or lacking utility. Despite the risks, on-chain shitcoin markets provide opportunities for traders to secure gains of 10x or more in a short period. Some of the top gainers on Ethereum’s on-chain market include tokens like 42 times 10 (420), WojakPepe (WOPE), and pepcoin (PEP). However, traders are advised to exercise caution and conduct thorough research before investing in these highly illiquid and volatile tokens.
42 times 10 (420) is a meme coin that surged 1,750% on Friday, with a market cap of $150,000 and low liquidity. WojakPepe (WOPE) gained 550% with a market cap of $1 million and liquidity of $100,000. Pepcoin (PEP) saw a 1,150% increase but had a market cap of only $60,000, highlighting the risks associated with investing in such illiquid coins. While shitcoins offer the potential for quick gains, they also come with significant risks, including the possibility of scams or pump-and-dump schemes.
A potentially safer alternative for investors looking for quick gains in the crypto market is to participate in crypto presales. Up-and-coming web3 projects often offer their native tokens at a discount to early investors to fund development. By identifying projects with strong use cases, visions, and competent teams, investors may be able to profit by selling their presale tokens at a premium once the project gains traction. Analysts at Cryptonews regularly research and identify promising presales in the market, offering investors insights into potential opportunities in the crypto space.
Investing in presales can be a more strategic and potentially less risky approach compared to trading in on-chain shitcoin markets. While shitcoins may offer quick gains, they also pose significant risks due to their volatile and illiquid nature. By focusing on promising presales and conducting thorough research, investors can identify opportunities with strong growth potential in the crypto market. Cryptonews provides valuable insights and analysis on presales, helping investors navigate the competitive landscape and make informed decisions when seeking opportunities for quick gains in the cryptocurrency space.
