The broader crypto market saw the bears take control on Monday, with concerns over the Iran/Israel situation and strong US economic data impacting sentiment. Bitcoin was trading near $63,000, while other major altcoins like Ether, Solana, XRP, and Toncoin were also off their session highs. Reports of Israel retaliating against Iran after a weekend attack added to market uncertainty. Stronger-than-expected US retail sales data further weakened the argument for near-term Fed rate cuts, leading to rising US bond yields and the US dollar, which are major headwinds to the crypto market.
With the blue-chip crypto market experiencing bearish conditions, traders are turning to on-chain micro-cap markets in search of potential gains. On-chain markets, despite being highly volatile and illiquid, offer the opportunity for high rewards, with newly launched meme coins and shitcoins constantly pumping. However, traders should exercise caution and conduct thorough research before investing in on-chain markets, as they are also rife with scams and pump-and-dump schemes. Despite the risks involved, on-chain markets remain appealing to traders looking for significant gains in a short period.
Some of the top crypto gainers on DEXScreener that are catching traders’ attention include SHIELD, a newly launched coin that has surged 21,400% since its launch on Monday. Despite its high gains, SHIELD has concerning aspects in its smart contract, such as a modifiable tax and unrenounced ownership. Another token, InnovateAI, has also shown a substantial increase of 5,400% on Monday but is relatively illiquid with potential for price crashes due to low volume of sales. While shitcoins offer quick gains, they are risky due to their volatile nature and potential scams, making them a less preferable option for investors looking for long-term gains.
Investing in crypto presales could offer a potentially better way to make quick exponential gains in the crypto market. Up-and-coming web3 projects often offer their native tokens at a discount to early investors, with the aim of funding development. By identifying projects with a solid use case, vision, and competent team, investors may have the opportunity to flip their presale tokens for a premium at a later date. However, with numerous presales competing for investor funds, it can be challenging to find promising projects. Analysts at Cryptonews regularly research and provide insights on promising presales, offering investors guidance on where to look for potential opportunities.
In conclusion, the current market conditions in the crypto space have driven traders towards on-chain micro-cap markets in search of high gains. While these markets offer significant opportunities, they also come with substantial risks, including volatility, illiquidity, and potential scams. It is essential for traders to conduct their due diligence and be cautious when investing in such markets. Additionally, exploring crypto presales could present a more stable and potentially lucrative option for investors seeking quick gains in the evolving crypto landscape. By identifying promising projects and understanding the market dynamics, investors can position themselves for potential success in the highly competitive crypto market.
