Top Crypto Gainers Today on DEXTools – ELON, BOYSCLUB, VITALIK
On a bearish day in the blue-chip crypto markets that saw Bitcoin (BTC) dip 3% back towards $64,000 and Ether (ETH) dip 2% to the mid-$3,100s, traders are flocking to the on-chain markets as they hunt for top crypto gainers today that might deliver fast profits.
On-chain markets refer to crypto assets issued and traded directly on the blockchain. Ethereum, Solana, and BNB are the most commonly used chains by those issuing or trading on-chain tokens.
On-chain cryptos are highly illiquid compared to those that trade on centralized spot cryptocurrency exchanges.
That means they are highly volatile – a relatively small amount of buy or sell pressure can trigger big price moves.
A newly launched coin can easily see gains of 100x in days as its market cap surges from the tens of thousands to millions.
Equally, a coin can quickly lose 90% of its value. And that’s not the only risk.
There is almost no barrier to entry for someone to create their own token. As a result, scammers flock to the on-chain crypto markets in an attempt to siphon funds from unknowing investors.
They can do this in various ways. One way is to insert malicious code into the token’s smart contract, creating unfair trading conditions.
Alternatively, the token might be a pump-and-dump scheme. This is where the team behind a token builds up artificial hype to create demand, cash in, and abandon ship.
One popular technique is for a token’s issuer to watch the ETH in the token’s liquidity pool rise as the token’s price pumps, only to withdraw and make off with this ETH abruptly.
That’s why many on-chain investors look for “locked liquidity,” which prevents so-called “rug pull” attempts.
That being said, let’s have a look at top crypto gainers today that traders will be
Read more on cryptonews.com
