In the aftermath of the recent cryptocurrency market downturn that saw Bitcoin drop below $60,000 for the first time in months, traders are turning to the on-chain markets in search of top crypto gainers. Bitcoin is currently trading in the $57,000 range as traders monitor the latest Federal Reserve policy announcement and negative ETF flows. Most altcoins are also experiencing losses, prompting traders to explore the volatile on-chain markets where new tokens are constantly being launched. While many of these tokens are pump-and-dump schemes or scams, there are potential investment opportunities that could result in significant gains.
Among the top crypto gainers today on Ethereum, as identified by DEXScreener, is AITaxBot (AITAX), a newly launched crypto that has surged by 1800% in just one day. Despite its impressive gains, investors should exercise caution as there are four concerning aspects to its smart contract, as flagged by Go+ Security. Another notable gainer is America (AMERICA), a meme coin that has risen by 220% in the past 24 hours and has been actively supporting US veterans through donations. While the token has smart contract issues, its charitable initiatives may be contributing to its continued price increase.
Additionally, Book of Ethereum (BOOE), a meme coin, has seen a 50% gain in a single day, pushing its market cap to $3.3 million and liquidity to $270,000. Unlike other tokens, BOOE does not have any smart contract issues and appears to be a legitimate project. However, investors should always conduct thorough due diligence before investing in newly launched coins, as most do not maintain long-term value. One alternative investment strategy that traders can consider is participating in presales of Web3 projects/protocols, which often offer their native tokens at a discount to early investors to fund development. Identifying promising presale opportunities can potentially yield high returns if done correctly.
Cryptonews has compiled a list of the top 20 crypto presales to invest in, highlighting projects with strong vision, use case, and competent teams that have the potential to gain traction in the market. It is important to note that investing in cryptocurrency is a high-risk endeavor, and investors should be prepared to lose all of their capital. While the crypto market presents opportunities for significant gains, it is essential to conduct thorough research, exercise caution, and stay informed about market developments. By staying informed and identifying promising investment opportunities, traders can navigate the volatile cryptocurrency market and potentially generate profits.
