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Top Crypto Gainers Today on DEXTools
As leading cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) stabilize near recent peaks while investors assess the rising demand for spot Bitcoin ETFs, highly risk-tolerant traders, commonly known as “degens,” are increasingly entering the on-chain shitcoin markets in search of today’s top crypto gainers.
According to data from TheBlock, trading volumes in BlackRock’s Bitcoin ETF IBIT exceeded $1 billion for the fourth consecutive session.
The average daily volume from the previous week was below $500 million.
On Wednesday, net inflows into spot Bitcoin ETFs surpassed 11,000 BTC.
This figure is more than ten times the increase in BTC supply through token issuance to miners.
Oh my goodness
Two days ago, $BTC Bitcoin ETFs were acquiring 9,000 Bitcoin daily
Yesterday, they purchased 11,000
Miners $CLSK $MARA only generated 900
Demand exceeds new supply created by more than 10x
Post halving, miners will only produce 450 a day pic.twitter.com/lvEerHBE5g
— amit (@amitisinvesting) February 29, 2024
The substantial demand for BTC from spot ETF investors is occurring ahead of the Bitcoin halving scheduled for April.
This event will halve the rate at which BTC is issued to miners, thereby decreasing long-term selling pressure.
In light of the surge in demand and the impending supply shock, it is not surprising that Bitcoin has risen approximately 20% this week.
Current monthly gains are around 44%, marking the highest increase in three years.
While these gains are certainly remarkable for an asset of Bitcoin’s magnitude, they pale in comparison to the daily price fluctuations observed in shitcoin markets.
Below are three notable crypto gainers today in the shitcoin sector that degens will be watching, according to the Decentralized Exchange (DEX) analytics tool DEXTools.
Top Crypto Gainers Today
MEMEAICoin ($MEMEAI)
A newly launched shitcoin named MEMEAICoin ($MEMEAI) has surged 5,500% following its debut today, as reported by DEXTools.
Its market capitalization was approximately $2.4 million, with liquidity just under $300,000 and nearly 300 holders.
However, the token may be a scam, so investors are advised to exercise caution.
According to DEXTools’ smart contract audit, Honeypot.is considers the token to be a honeypot scam.
Honeypot tokens may be unsellable or could contain harmful code.
FR22 GPT ($FR33)
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The Telegram-based AI tool FR33 GPT has increased by 800% on Thursday, according to DEXTools.
Its market cap was around $1.17 million, with liquidity exceeding $200,000.
The token has 350 holders and has recorded nearly $1 million in trading volumes over the past 24 hours.
It imposes a 3% buy and sell tax, along with two additional smart contract alerts.
GPUBot ($GPUBot)
Another AI-focused shitcoin, GPUBot ($GPUBot), which claims to offer decentralized infrastructure with blockchain-based and AI-enabled node services, is experiencing a price surge.
As per DEXTools, it ranks among the top crypto gainers today, having risen 360% within 24 hours.
Its market cap was approximately $2 million, with locked liquidity around $300,000.
It features two smart contract alerts, so investors should proceed with caution.
Even seemingly benign coins carry the risk of total loss in the shitcoin market.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a highly speculative approach.
A project that appears harmless could easily be a scam, and a few significant sell orders could drastically reduce the price by 80%.
A strategy that remains risky but may offer a better risk-reward ratio is participating in crypto presales.
This involves investors acquiring tokens from emerging, high-potential crypto projects/protocols at a discounted early price.
These projects utilize the funds for protocol development and marketing.
While various issues can arise when investing in crypto presales—unexpected events may hinder a project from achieving its goals—astute presale investors often realize gains of 10x or more.
With numerous presale projects competing for investor capital, analysts at Cryptonews have been analyzing the market.
Here are 14 presale projects deemed to have the highest potential.
See the 14 Cryptocurrencies
The post Top Crypto Gainers Today on DEXTools – MEMEAI, FR33, GPUBot appeared first on Cryptonews.
