As major cryptos struggle with elevated price pressures on Thursday as US equity markets continue to struggle amid the hang-over of recent poor earnings, crypto traders are turning to more speculative on-chain markets as they hunt top crypto gainers today.
Bitcoin (BTC) was last in the mid-$64,000s, down over 1%. Ethereum (ETH), meanwhile, was down over 6% and threatening a break below $3,100.
The crypto appears to be suffering a sell-the-fact reaction to its ETF launch this week. Big outflows from Grayscale newly converted Ethereum ETF aren’t helping.
Second day of the Ethereum ETF –> big outflow.
Why?
Grayscale’s Trust.
The outflow of $800 million is currently comparable to 8% of the actual trust.
Once this massive amount of outflow stagnates or goes sub $100 million, the markets are reversing up. pic.twitter.com/qFSpeGy7Wg
— Michaël van de Poppe (@CryptoMichNL) July 25, 2024
Markets could rebound this weekend depending on how US inflation goes on Friday, and commentary on crypto from US Presidential candidate Donald Trump on Saturday at a major Bitcoin conference.
But until then, things might remain rocky. Its no surprise then that traders continue turning to more speculative markets as they hunt for top crypto gainers today.
Top Crypto Gainers Today
Crypto degens are launching new meme coins and shitcoins on blockchains like Ethereum and Solana every day.
Most never gain traction. But some can post quick 100-200x gains, enriching early investors.
That’s why there is clamour amongst traders to try and indentify and get in early on trending coins.
Traders frequently use platforms like DEXScreener to indentify top crypto gainers today.
One strong gainer is a new shitcoin called Save America (SA).
Save America is one of the top crypto gainers today / Source: XThe new meme coin, which is themed on a historic picture of US Presidential Candidate Donald Trump brandishing his fist in the air with the US flag behind him after surviving an assassination attempt, is pumping hard, having already gained over 21,800% per DEXScreener.
SA now has a market cap of around $800,000, with just over $100,000 in locked liquidity.
But the community is divided over whether it might be a scam. Its has 54 rocket emoji votes on DEXScreener to 24 red flag emojis.
Another strong perform on Thursday is a fun new cat meme coin called hit meeeee upp (HM).
Hit meeee upp is one of the top crypto gainers today / Source: XThe token is up 7,000% in the past 24 hours, per DEXScreener, reaching a $1.6 million market cap.
The Solana-based token, which trades on Solana’s biggest DEX Raydium, has a lot of community support.
It has over 230 rocket emoji votes to just 4 red flag votes and 5 poop votes.
But that doesn’t mean this token isn’t a scam. Indeed, almost all nearly launched crypto tokens are either scams or pump-and-dump schemes of some sort.
Traders must do their own research before investing in new meme coins. They must also never risk more than they can afford to lose.
Better Alternative to Consider
Finding a newly launched crypto token using DEXScreener and aping in early could hand investors huge gains.
But, as noted, these are highly risky and volatile markets. Investors are much more likely to lose their entire initial investment than post big gains.
A potentially better way to generate big returns is via investing in crypto presales.
Web3 start-ups frequently sell their native tokens at a discount to raise funds for development and generate hype.
Presales normally run for a few weeks, giving investors time to do their research properly.
Here are some of Cryptonews.com’s favorite presales this summer.
15 Best Presales to Invest In Now
The post Top Crypto Gainers Today on DEXScreener – SA, HM appeared first on Cryptonews.
