Biggest Crypto Gainers Today on Uniswap – ODOGE, ORD, MATTER
The Bitcoin (BTC) melt-up has continued on Tuesday, with the BTC price briefly hitting $44,000 before pulling back to the upper $43,000s, taking its run of gains since last Friday to around 15%.
Investors continue to panic buy amid bets that 1) spot Bitcoin ETFs will soon gain approval in the US, driving a wave of new institutional demand and 2) bets that Fed policy will be more dovish in the coming months, with rate cuts possible in early 2024.
And with Bitcoin having broken convincingly to the north of resistance in the $43,000 area in the form of the late-April 2022 highs, the pathway higher to a quick test of the 2022 highs at $48,000 is clear.
Major altcoins are mixed, with Ether (ETH) up around 2% in the past 24 hours and Cardano (ADA) and Dogecoin (DOGE) up between 3-4%, while the likes of XRP (XRP), Solana (SOL) and BNB (BNB) are slightly lower.
Dogecoin got an intra-day boost from the news that Elon Musk’s X.AI Corp will raise $1 billion in equity, perhaps related to speculation that Dogecoin may somehow feature in Musk’s future plans for his companies.
While Bitcoin is the star of the show in the blue-chip crypto market right now and its outlook remains very strong, traders looking to turn quick exponential profits will continue to turn to the highly illiquid and volatile shitcoin/meme coin markets, where tokens can routinely post gains of as much as 10x in one or two days.
Of course, these tokens can lose their value just as quickly as they gained it, given most are backed by projects of questionable or no utility.
Here are some of the biggest gainers on the Uniswap decentralized exchange (DEX) on Tuesday.
A shitcoin that launched earlier this year called Ordinal Doge ($ODOGE) has seen a sudden more than 300% spike
