Top Crypto Gainers Today on DEXScreener – MDAI, COCO, TARGET
On a day that crypto markets succumb to profit-taking, traders are turning to the on-chain shitcoin markets in order to hunt for top crypto gainers today that could deliver quick profits.
Bitcoin (BTC) was last trading in the $68,000s, down about 3.5% in the past 24 hours. Ether (ETH), meanwhile, was last down about 4.2% over the same period and trading near $3,700.
Both cryptos continue to trade with 30-day gains of over 30%, thanks mostly to huge spot Bitcoin ETF demand.
But the ETF buyers were strong enough to hold up the market on Friday. More traders started taking profit in the latter half of the week thanks to the macro backdrop turning into a headwind.
The DXY and US yields have pushed up this week as macro traders downsized bets on Fed rate cuts in wake of the latest CPI and PPI inflation figures.
Some think that $74,000 may have been the pre-halving peak for Bitcoin. If the blue-chip markets are going to spend the next few weeks consolidating/falling, on-chain shitcoin markets all of a sudden become more attractive.
On-chain markets refer to the market for digital assets that have been issued directly on top an existing blockchain.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can then be traded on decentralized exchanges, and also perhaps on centralized exchanges if they get big enough.
They are often referred to as shitcoin markets because virtually anyone can issue a token at any time.
As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
Here are a few of the top crypto gainers today on Ethereum that traders will be monitoring.
An AI shitcoin called MindAI ($MDAI) is up 6,753% in the past 24 hours, as per DEXScreener.
That makes it the top
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