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Following a favorable beginning to the week that has seen significant cryptocurrencies rebound from Sunday’s price decline, traders are shifting their focus to the micro-cap DEX markets as they search for leading crypto gainers today that may offer quick returns.
Bitcoin (BTC) has bounced back to the mid-$59,000s as of early Tuesday trading, having fallen to the low $57,000s on Sunday.
Other prominent cryptocurrencies are also showing gains, with Ethereum (ETH), BNB (BNB), and Solana (SOL) rising 4% over the past 24 hours, according to CoinMarketCap.
Despite Monday’s surge, major cryptocurrencies remain firmly within recent ranges and below their recent peaks.
This situation explains why some traders are opting for the more volatile on-chain DEX markets in search of price fluctuations.
However, the upward movement in major cryptocurrencies could gain momentum later in the week, particularly if forthcoming key US economic data reinforces expectations for a Federal Reserve rate cut.
The Fed is anticipated to lower interest rates for the first time since raising them to multi-decade highs of 5.25-5.5% in 2023.
This rate reduction is expected to be the first in a series of cuts.
Crypto advocates are optimistic that the narrative surrounding rate cuts could counteract the typically bearish trends seen in September, which is often one of the weakest months for price performance.
Nevertheless, ahead of these significant US data releases, volatility in on-chain DEX markets is increasing.
Here are some notable crypto gainers today, as reported by DEXScreener, that traders are likely monitoring.
Top Crypto Gainers Today – Which Are They?
Although it has retraced significantly from earlier session highs, a new Ethereum meme coin named VISTADOG has surged over 4,000% on Monday, making it one of the leading crypto gainers today.
#VISTADOG will work on creating the first meme token on @ethervista
According to the Ethervista protocol, there is a 5-day lockup period. This lockup period is designed to prevent developers and liquidity providers from jeopardizing the project by withdrawing liquidity prematurely.— VISTADOG (@VISTADOGETH) September 2, 2024
According to DEXScreener, its market capitalization was approximately $1.7 million, with trading volumes around $9.2 million thus far.
These figures are notable, but VISTADOG also presents several warning signs.
Firstly, its liquidity of $350,000 is not locked, meaning developers could potentially withdraw liquidity quickly in a so-called rug-pull.
Secondly, a Go+ Security audit has flagged various issues related to the token’s smart contract.
These concerns include a modifiable tax, unrenounced ownership, and the ability to pause transfers.
Traders should keep in mind that nearly all newly launched crypto tokens are either scams or pump-and-dump schemes, with very few retaining any long-term value.
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The next notable name among today’s top crypto gainers is ManBearPig (MPIG), a new meme coin on Solana.
This new token has risen 1,800% to a market cap of $1 million, according to DEXScreener.
However, with only $120,000 in locked liquidity, even a modest amount of buying or selling pressure could lead to significant price fluctuations.
Lastly, another top crypto gainer today, Ethervista (VISTA), has increased by 1,000%, as per DEXScreener.
In contrast to the other entries on this list, Ethervista may not be a worthless token.
It serves as a token issuance platform that some are likening to Solana’s pump.fun platform.
Ethervista is being described as the Pump Fun of ETH
ETH DeFi users are frustrated about the lack of innovation on mainnet@ethervista novel LP & fee mechanism aims to address this by exploiting an opportunistic gap in the market(1/8) pic.twitter.com/q3J2Ikez6q
— s4mmy.moca (@S4mmyEth) September 2, 2024
(1/8) pic.twitter.com/q3J2Ikez6qPump.fun and its Tron counterpart Sun Pump have both gained significant popularity since their recent launches.
VISTA’s market capitalization was last noted at around $16 million, but if this platform proves successful, it could reach hundreds of millions.
Among today’s top crypto performers, VISTA may be the most promising option for investment.
Traders could even be capitalizing on the dip, as VISTA has fallen nearly 50% from earlier session highs.
Alternative to Top Crypto Gainers Today
VISTA could potentially be a 20x coin. However, identifying coins with 20x potential in the on-chain shitcoin markets is challenging.
There are numerous scams and fraudulent projects attempting to deceive investors.
Investing in presales might present a more favorable opportunity. While there are many presale scams and fake projects, presales typically last for several weeks, providing investors ample time to perform due diligence.
If investors can accurately pinpoint high-potential presale projects, they can achieve substantial returns.
Analysts at Cryptonews.com are closely monitoring the presale market. Here are some of their current favorite projects.
19 Best Crypto Presales to Invest In Now
The post Top Crypto Gainers Today On DEXScreener – VISTADOGS, MPIG, VISTA appeared first on Cryptonews.
