Top Cryptocurrency Performers Today on DEXScreener – FELON, YIELD, BOOB

As leading cryptocurrencies stabilize after a decline earlier this week, with Bitcoin (BTC) holding steady below $60,000, traders are shifting their focus to the on-chain markets in search of today’s top crypto gainers.

Bitcoin was recently trading near $59,000 as traders process the latest macroeconomic developments. Deteriorating ETF flows are also being monitored following BlackRock’s IBIT experiencing its first outflows since its launch in January.

Yesterday’s ETF flows were notably negative.
We recorded $563.7 million in outflows. $GBTC had $167.4 million, Fidelity $191.1 million, Ark $98.1 million.

BlackRock experienced its first negative day with $36.9 million.

Given the price drop from $61k to $56k, this isn’t unexpected… pic.twitter.com/cwBR8epxvF

— WhalePanda (@WhalePanda) May 2, 2024

In the meantime, most significant altcoins are also stabilizing following recent selling pressure.

The subdued conditions in the blue-chip market are prompting traders to explore the volatile and unpredictable on-chain markets.

On-chain markets pertain to the trading of assets that are issued and exchanged directly on the blockchain.

Numerous new tokens are introduced daily. While many are pump-and-dump schemes or fraudulent, there are valuable opportunities that could yield early investors substantial returns of 10 or even 100 times their investment.

Traders frequently utilize tools like DEXScreener to identify trending and surging coins.

With that in mind, here are some of the leading crypto gainers today on Ethereum, according to DEXScreener.

Top Crypto Gainers Today

Crypto Felon (FELON)

A newly launched token known as Crypto Felon (FELON) has experienced an astonishing 72,000% increase since its inception.

According to DEXScreener, its market capitalization stands at $2.2 million, with $170,000 in locked liquidity.

Surprisingly, despite the token’s name, it has only one issue related to its smart contract.

However, traders should approach all newly launched tokens with skepticism and exercise caution.

Yield (YIELD)

Another recently launched token, Yield (YIELD), has surged over 48,000% within 24 hours.

DEXScreener estimates its market cap at $2.2 million, with just over $200,000 in locked liquidity.

Traders should be particularly cautious with this token, as it has five issues with its smart contract, including a modifiable tax and unrenounced ownership.

Book of Bitcoin (BOOB)

Following the success of the meme coin Book of Ethereum, a new token named Book of Bitcoin (BOOB) has been launched, featuring a humorous ticker.

As per DEXScreener, BOOB’s market cap was last recorded at $1.1 million, having increased by 29,000% in 24 hours.

The token has $120,000 in locked liquidity and only one issue with its smart contract, which is a whitelist.

Traders should note that its official X account has been suspended, which is typically a negative indicator.

Alternative Investment Strategy to Consider – Presales

If traders can effectively identify promising shitcoins, they can achieve significant profits.

However, the often-overlooked strategy of investing in presales can potentially yield even greater returns if done correctly.

Web3 projects and protocols frequently offer their native tokens at a discount to early investors to support development.

If investors can accurately pinpoint projects that, due to their strong vision, use case, and capable team, gain traction in the market, they can realize substantial profits.

Understanding where to begin is one of the primary challenges in the complex presale market.

That’s why Cryptonews has compiled a list of their top selections.

20 Best Crypto Presales to Invest In

Alternatively, check out this video from Cryptonews’ Crypto Arjay, who discusses his top 3 meme coins, all currently available in presale.

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