Top Cryptocurrency Performers Today on DEXTools – BABYSTRK, HUSKY, DRAI

Top Crypto Gainers Today on DEXTools

With bullish sentiment prevailing in the wider cryptocurrency market, traders seeking today’s leading crypto gainers are increasingly turning to on-chain shitcoin markets, aiming for rapid exponential returns.

Bitcoin (BTC) has experienced significant upward movement in the weeks following the introduction of US spot Bitcoin ETFs.

BlackRock’s IBIT ETF has been at the forefront, achieving a new volume milestone on Thursday.

$IBIT recorded nearly $4 billion in volume today.

Some astonishing figures.

Today marked one of the highest volume days since the launch of #Bitcoin ETFs. pic.twitter.com/nWjWMEW2RH

— Rajat Soni, CFA (@rajatsonifnance) March 14, 2024

Indeed, trading volumes have surged dramatically over the past few weeks. March’s volumes have already surpassed those of January and February, according to Bloomberg ETF analyst Eric Balchunas.

Here’s the monthly volume for the ten BTC ETFs. March is only halfway through but has already exceeded the figures from February and January with $65 billion. pic.twitter.com/UpZ6pFgQgt

— Eric Balchunas (@EricBalchunas) March 14, 2024

As institutional investments continue to flow in, Bitcoin may potentially reach $100,000 before the April halving.

This implies it could easily achieve gains of 50% from its current position.

However, this is still insufficient for many traders, who are aiming for returns in the 50-100x range.

The only avenue where traders have a genuine chance of realizing such gains is by identifying promising opportunities in the on-chain shitcoin markets.

On-chain markets pertain to the trading of digital assets that have been created directly on an existing blockchain.

For instance, the Shiba Inu (SHIB) token is created on Ethereum as an ERC-20 token.

These tokens can be traded on decentralized exchanges and potentially on centralized exchanges if they gain sufficient traction.

They are often labeled as shitcoin markets because virtually anyone can create a token at any time.

Consequently, these on-chain markets are filled with scams and pump-and-dump schemes.

Here are several of the leading crypto gainers today on Ethereum that traders will be observing.

Top Crypto Gainers Today

BabySTRK ($BABYSTRK)

A shitcoin named BabySTRK ($BABYSTRK) has surged by 67,000% since its launch on Thursday, according to DEXTools.

Its market capitalization was approximately $2.6 million, with nearly $300,000 in liquidity and already 65 holders.

This is a notable performance for its first day of trading. Additionally, its smart contract appears to be thoroughly vetted, as indicated by DEXTools’ smart contract audit.

Nevertheless, there are no risk-free investments in the shitcoin market. Investors should always conduct their own research.

HuskyInu ($HUSKY)

A shitcoin called HuskyInu ($HUSKY) is attempting to stage a comeback. It was last reported to be up over 21,000% on Thursday, according to DEXTools.

Its market cap is just below $1 million, with liquidity under $250,000.

However, investors should exercise extreme caution with this coin. Honeypot.io suggests it may be a honeypot scam.

Drama AI ($DRAI)

Another newly launched shitcoin, Drama AI ($DRAI), has increased by nearly 5,000% in less than 24 hours, according to DEXTools.

Its market cap was still around $750,000 with $220,000 in locked liquidity.

However, investors should not let locked liquidity create a false sense of security regarding this coin.

This is because the token could potentially be a honeypot scam, as indicated by Honeypot.io.

Crypto Alternatives to Consider

Investing in low-cap shitcoins is a highly speculative strategy.

A seemingly harmless project could easily turn out to be fraudulent, and a few large sell orders could quickly drive the price down by 80%.

A strategy that remains risky but arguably offers a better risk-reward ratio is participating in crypto presales.

The concept is that investors acquire tokens from emerging, high-potential crypto projects/protocols at a discounted early price.

These projects then utilize those funds for protocol development and marketing.

While numerous issues can arise when investing in crypto presales—unexpected events can hinder a project from achieving its goals—astute presale investors often secure returns of 10x or more.

With hundreds of presale projects competing for investor capital, analysts at Cryptonews have been analyzing the market.

Here are 14 presale projects with significant potential.

See the 14 Cryptocurrencies

The post Top Crypto Gainers Today on DEXTools – BABYSTRK, HUSKY, DRAI appeared first on Cryptonews.