Biggest Crypto Gainers Today on DEXTools – BIC, ULTRA, 0xS
Blue chip cryptos like Bitcoin (BTC) and Ether (ETH) are trading within their thin weekend ranges on Monday, with the latter recently edging back under $26,000 and the former holding just to the north of the $1,650 level.
Cryptocurrency markets took a beating last week as the recent pullback in US stocks extended and long-dated US bond yields rose back to multi-year highs amid bets that interest rates in the US will remain higher for longer thanks to sticky inflation and continued economic strength.
Reports that the US Securities and Exchange Commission (SEC) is close to approving a raft of Ether futures exchange-traded funds (ETFs), which while not as useful a financial product as equivalent spot ETFs could still attract significant inflows, failed to lift the broader market’s mood.
Rather, sell pressure was high following Bitcoin and Ether’s respective breaks below their 2023 uptrends and 200DMAs.
Traders will be monitoring remarks from Fed Chair Jerome Powell, who will be speaking alongside other major central bankers on Friday.
In the meantime, bearish but for now contained market conditions mean that traders looking for quick gains will likely continue to turn to the highly illiquid meme coin/shitcoin market.
Here are some of the best-performing low cap coins on Monday.
A new shitcoin called Bic Token ($BIC) has been pumping since its launch on Sunday.
$BIC was last changing hands around $0.012, up 300% in the last 24 hours as per DEXTools, making it one of the best performers in the shitcoin market.
The token has fallen back 70% versus its Sunday highs, but has been picking up pace in the last few hours.
$BIC currently has a market cap of around $230,000, with $160,000 in liquidity that is locked for at least six months.
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