Biggest Crypto Gainers Today on Uniswap – MBX, MORRA, AGRS
Bitcoin (BTC) is backing off after hitting fresh highs for the year in the $38,800s earlier in the session, but at current levels in the $38,300s, is still up close to 2% in the past 24 hours.
Other major cryptocurrencies like Ether (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA) were all also trading with moderate gains over the same time period, with analysts citing a recent uptick in demand for Bitcoin futures ETFs as a sign that institutional demand for crypto continues to pick up.
Regulated crypto investment products have been enjoying inflows in recent weeks thanks to bets that spot Bitcoin ETFs will soon garner approval in the US, which is widely viewed as bullish for the BTC price.
Meanwhile, just released weaker than expected US ISM Manufacturing PMI figures for November strengthens the narrative that the US economy is cooling, just as Fed policymakers appears to be warming to the idea of interest rate cuts next year.
Chicago Fed President Austan Goolsbee on Friday remarked that US Core PCE inflation data released earlier in the week was in fitting with inflation falling back to the bank’s 2% goal, a viewpoint that could be used to argue in favor of a lowering of interest rates in 2024.
If the Fed does start lowering interest rates in 2024, this would result in a broad easing of financial conditions and injection of new liquidity into the economy, which has historically been bullish for BTC and the broader crypto market.
While the crypto market outlook subsequently continues to look bright, traders looking to turn even quicker profits will continue to turn to the highly illiquid and volatile shitcoin/meme coin markets.
Here are some of the biggest gainers according to decentralized exchange (DEX) Uniswap.
Gaming
