Top Crypto Gainers Today on DEXScreener – MUFFIN, PVGO, GPT
As blue-chip cryptocurrencies nurse losses on a Friday that saw a further hawkish repricing of Fed rate cut expectations, investors looking for top crypto gainers today are turning to the highly illiquid and volatile on-chain markets for quick returns.
The latest US jobs report was strong and various Fed policymakers jawboned about it being too soon for rate cuts.
Bitcoin swung between $66,000 and $68,500 and was last down close to 5% for the week.
Other major cryptos also nursed losses. Solana (SOL) was last down 5.5% in 24 hours, while Dogecoin (DOGE) was down 3%, as per CoinMarketCap.
Rather than jumping into the bearish blue-chip market, many would prefer to bet on newly launched on-chain tokens.
On-chain markets refer to the market for digital assets that have been issued directly on top of an existing blockchain.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can then be traded on decentralized exchanges (DEX) and perhaps on centralized exchanges if they get big enough.
They are often referred to as meme coin (or shitcoin) markets and virtually anyone can issue a token at any time.
As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
But shitcoin markets are the only place to find tokens that can rally in the 50-100x region.
Here are a few of the top crypto gainers today on Ethereum that traders will be monitoring, as per DEXScreener.
A just-launched shitcoin called MUFFIN (MUFFIN) is up 17,000% in 24 hours, as per DEXScreener.
Despite those big gains, the token’s market cap is still very small at just $674,000.
Its liquidity pool, meanwhile, has $94,000 locked. 24-hour volumes sits at a decent $1.2 million, with nearly 500 unique wallets having
Read more on cryptonews.com
