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Cryptowire: Top Crypto Gainers Today on DEXScreener
It’s been a relatively quiet start to the week for cryptocurrency markets, with major coins mostly trading within recent ranges. However, traders are now turning their attention to the more volatile on-chain altcoin markets in search of top crypto gainers today.
Bitcoin and Ethereum Update
Bitcoin (BTC) is currently trading in the $68,000s, slightly down from its recent peak above $70,000 due to concerns surrounding Mt Gox wallet movement. Ethereum (ETH) is trading in the $3,800s as traders eagerly await the launch of recently approved Ethereum ETFs.
Market Expectations
The upcoming Core PCE inflation data release is anticipated to impact the market dynamics. Analysts predict a decline in MoM core price pressures from 0.3% in March to 0.2% in April, potentially signaling future Fed rate cuts.
Political and Regulatory Influences
Recent pro-crypto statements from US Presidential candidate Donald Trump and the SEC’s approval of Ethereum ETFs indicate a positive shift in the regulatory landscape. This could lead to a resurgence in major cryptos reaching new highs.
Risks in On-Chain Markets
While major cryptos may see gains, traders seeking quick profits are exploring the risky on-chain markets where new meme coins and tokens are launched daily. However, caution is advised as many of these projects turn out to be scams or pump-and-dump schemes.
Top Crypto Gainers Today
- King of Memes (KING): A Solana meme coin that has surged nearly 750% in the past 24 hours, reaching a market cap of $642 million. However, with low liquidity and trading volume, caution is advised as it may be a potential scam.
- Swapuz (SWAPUZ): Another suspicious coin with a market cap of $420 million and a staggering 640,000% increase since launch. Despite the impressive growth, low trading volumes and lack of recent activity raise red flags for traders.
- MOJO The Gorilla (MOJO): An Ethereum meme coin that has skyrocketed by nearly 80,000% since launch, achieving a market cap of $3.1 million. While appearing less scammy, traders should remain cautious as most newly launched tokens carry inherent risks.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
