Top Crypto Gainers Today on DEXScreener – DOGE, DWOLF, DEV
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
While major cryptocurrencies are in a buoyant mood on Friday as risk appetite across financial markets improves on the prospect of easier incoming financial conditions, the top crypto gainers today are all to be found in the on-chain DEX markets.
That’s because newly launched crypto tokens start life with tiny market caps and next to no liquidity, so a small amount of buy pressure can send them surging exponentially higher in very short order.
So while Bitcoin (BTC) is up 2% in the past 24 hours, per CoinMarketCap, some new micro-cap coins are up 10-20x over the same time period.
Bitcoin was last trading around $59,500 and eyeing a retest of its 50DMA at $60,000.
Major cryptos have been pushing higher this week in tandem with stocks and gold ahead of widely anticipated rate cut from the Fed next week, which will mark the start of a new liquidity/financial condition easing cycle.
Current Market expectations for Fed Rate Cuts…
-Sep 18, 2024: 25 bps cut to 5.00-5.25%
-Nov 7, 2024: 50 bps cut to 4.50-4.75%
-Dec 18, 2024: 25 bps cut to 4.25-4.50%
-Jan 25, 2025: 50 bps cut to 3.75-4.00%
-Mar 19, 2025: 25 bps cut to 3.50-3.75%
https://t.co/l5IYmkf6Ih pic.twitter.com/Y2wZRHE4r5
Such an environment is generally very good for speculative risk assets like crypto.
In particular, newly launched on-chain DEX tokens could see increased trading activities as retail participation in crypto rises.
All that being said, here are some top crypto gainers today, per DEXScreener.
A copycat version of a recently launched meme coin called Department of
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