Biggest Crypto Gainers Today on DEXTools – PEGASUS, DUNG, ASC
Blue chip cryptocurrencies remain marooned within recent intra-day ranges, with bitcoin (BTC) stuck in the low $29,000s and ether (ETH) in the mid-$1,800s.
Friday saw the release of fresh economic data that boosted hopes of a so-called “soft landing” for the US economy – i.e. a scenario where the Fed is able to bring inflation back to the 2% target without dragging the economy into a recession with all of its rate hikes.
Core PCE inflation data for June showed US inflation was mostly softer than expected, Q2 Employment Cost Index data showed wage pressures easing more than expected, while a measure of US consumer sentiment rose to its highest level since 2021.
That batch of good data, which is lifting sentiment in the US stock market, comes after the release of positive Q2 GDP growth (stronger-than-expected) and inflation (lower-than-expected) data on Thursday, bolstering sentiment at the time.
But crypto markets are for now ignoring the positively developing macro story, with focus seemingly more on more crypto-specific themes right now, such as recent spot bitcoin ETF filings and regulation.
With price action in blue chip crypto markets subdued, degens unsurprisingly continue to hunt for volatility and the prospect of short-term gains in the meme coin/shitcoin market.
Here are some of the top-gaining Ethereum-based coins of the day, as per DEXTools.
Amid the recent success of tokens relating to Telegram crypto bots, a newly launched token called Pegasus SniperBot (PEGASUS) is performing well on Friday.
As per DEXTools, the token has gained over 120% on the day, and was last trading at record highs in the $0.60 per token range, giving it a market cap of around $600,000.
The token now has nearly 400 holders and has seen trading
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