Top Crypto Gainers Today on DEXTools – ANALOS, JUNO, VAB
Blue chip cryptocurrencies are mixed on Thursday, with Bitcoin (BTC) down 1.5% and back below $42,500, while Ether (ETH) is flat in the upper $2,300s, BNB is up 6.6% in the past 24 hours and Solana (SOL) and Avalanche (AVAX) are both down over 6% over the same time period, as per CoinMarketCap.
Downside in cryptocurrencies that have outperformed in recent months, like in BTC, SOL and AVAX, could be explained by profit-taking ahead of the year’s end.
BNB’s upside, an underperformer as of late, could be explained by a potential catch up trade as investors take profit on strong performers and mover into weaker performers.
Macro remains a tailwind for crypto right now as US equities hold close to yearly highs, and as the US Dollar Index (DXY) and US yields press lower, which should cap any short-term downside, in Bitcoin at least.
That being said, jitters are growing that spot Bitcoin ETF approvals in the US, expected before January 10th, could trigger a sell the news event and a flush out of leverage longs.
In a note to crypto media, CryptoQuant are warning that BTC could dip back as low as $32,000 next month.
While conditions are choppy and somewhat disjointed in the broader crypto market on Thursday, low-cap shitcoins/meme coins continue to pump.
Here are some of the top performers as per decentralized exchange (DEX) analytics website DEXTools.
A newly launched shitcoin called Analos ($ANALOS) has pumped an impressive near 1000% in the past 24 hours, as per DEXTools.
The token’s market cap was last around $470,000, with liquidity of just over $320,000, 350 holders and high 24-hour trading volumes of more than $4 million.
The token claims to be for Ethereum users who love Solana but can’t migrate there, and so appears to be tapping
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