Top Crypto Gainers Today on DEXTools – BIAO, HEMULE, XFER
While blue-chip cryptocurrencies are attempting a recovery in wake of broadly bearish price action since last Friday, $BIAO, $HEMULE and $XFER are the top crypto gainers today on DEXTools.
Bitcoin (BTC) was last trading hand around $43,000, up around 3% on the day.
Meanwhile, Ether (ETH) was last up just over 2.5% and the major altcoin picture was mixed.
With most US market participants away for MLK Day celebrations, trading volumes were low.
As per Yahoo Finance, major exchanges saw around $25 billion in spot trading volumes on Monday.
That’s well below last Monday’s $42.7 billion in volumes.
Trading conditions are thus likely to remain subdued until markets in the world’s largest economy come properly back online.
With blue-chip cryptocurrencies marooned within recent ranges, traders looking for quick gains will continue to turn to low-cap markets.
The market for shitcoins/meme coins is highly illiquid and thus can be very volatile.
Shitcoins routinely post 5-10x gains in a single day, something blue-chip markets cannot offer.
That means, on any given day, the top crypto gainers are likely to be low-cap shitcoins.
Here are some of the top crypto gainers today, as per the Decentralized Exchange (DEX) analytics tool DEXTools.
A shitcoin that was launched last May called Biaocoin ($BIAO) which looked to have died has gained a new lease of life in the past two days.
As per DEXTools, $BIAO is up nearly 300% in the past 24 hours.
Its market cap was last above $500,000, with liquidity of $440,000 and nearly 400 holders.
The shitcoin has been around a while so it probably isn’t a scam.
That being said, it has four smart contract alerts, as per DEXTools’ security audit, so investors should be cautious.
A meme coin based after Ethereum
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