With major cryptos likes Bitcoin (BTC) and Ether (ETH) consolidating close to two-week highs in the $70,000 and $3,600 areas, traders are turning to the on-chain shitcoin markets to find top crypto gainers today as they hunt for quick gains.
On-chain markets refer to the market for digital assets that have been issued directly on top of an existing blockchain.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can then be traded on decentralized exchanges (DEX), and also perhaps on centralized exchanges if they get big enough.
They are often referred to as meme coin (or shitcoin) markets and virtually anyone can issue a token at any time.
As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
But shitcoin markets are the only place to find tokens that can rally in the 50-100x region.
Here are a few of the top crypto gainers today on Ethereum that traders will be monitoring, as per DEXScreener.
Voidz ($VDZ) has been pumping hard since its launch two days ago.
As per DEXScreener, it was last trading with gains of around 135,000% in the past 24 hours.
$VDZ’s market cap was last around $10.8 million, with just under $600,000 in liquidity.
Whilst those are very impressive numbers for a recently launched coin, traders should exercise extreme caution.
$VDZ has various concerning aspects to its smart contract that suggest it could be a scam.
Its tax (currently 5% buy and sell) is modifiable and Transfers are pausable.
Another recently launched shitcoin called Shiva Inu ($SHIV) is also pumping hard.
As per DEXScreener, it was up 65,000% in 24 hours, reaching a market cap of $2.7 million. It also has $224,000 in locked liquidity, reducing rug pull risk.
But this token also
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