As bullish momentum returned to the crypto market on Monday and Bitcoin (BTC) looks to retest all-time highs, traders looking for quick profits will be looking for the cryptocurrency's top gainers. They are flocking to the on-chain microcap market. today.
The blue-chip cryptocurrency market was lively on Monday, with Bitcoin up more than 2% and trading above $71,500. Ether (ETH) is up nearly 8% in 24 hours, reaching the mid-$3,600 range, according to CoinMarketCap.
Rising prices of major cryptocurrencies may cause an increase in risk-taking activity for on-chain microcaps.
That's because crypto investors who hold high-quality cryptocurrencies suddenly have more money to play with. And they may be hoping that outperformance in the blue-chip market will lead to a rise in the on-chain market.
For reference, on-chain markets refer to markets for digital assets issued directly on existing blockchains.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can be traded on decentralized exchanges (DEXs) and perhaps even centralized exchanges if they grow large enough.
These are often referred to as memecoin (or shitcoin) markets, and virtually anyone can issue tokens at any time.
As a result, these on-chain markets are rife with fraud and pump-and-dump schemes.
However, the shitcoin market is the only place to find tokens that have the potential to rise in the 50-100x region.
Here are some of today's top crypto profiteers on Ethereum that traders are monitoring, according to DEXScreener.
Today’s top crypto earners
TNSR (TNSR)
A newly launched shitty coin called TNSR (TNSR) is surging in price on Monday.
According to DEXScreener, it is up over 1,000,000% since its launch. Also, although its market capitalization is still small at $117,000, it has secured liquidity of $1.2 million.
Traders should not be fooled by these impressive numbers as this token is likely a scam.
Go+ Security’s smart contract audit revealed that the token is mintable and the issuer can change the balance. This suggests that you may pull the rug at any time.
Traders should always do their due diligence before stepping into risky on-chain markets.
Notification AI (NOAI)
The just-launched decentralized communications protocol Notifi AI (AI) has increased 656% since its launch on Monday.
This is according to DEXScreener, which puts the token’s market cap at $290,000.
The token also has $201,000 of unlocked liquidity, which could ultimately add up to a lot of money.
Go+ Security did not find any concerning aspects of the token's contract. But that doesn't mean it's a safe investment.
Clover Swap (Clover)
The just-launched decentralized trading token Clover Swap (CLOVER) is up 400% since its launch on Monday.
According to DEXScreener, it has a market capitalization of $376,000 and liquidity of $325,000.
Go+ Security found no issues with the smart contract. This may be a low-cost gem, but there are no zero-risk investments in the on-chain market.
Cryptocurrency Alternatives to Consider
Investing in low cap shitcoins is a very risky strategy.
An innocent-looking project could easily be a scam, and a few large sell orders can easily cause the price to drop by 80%.
A still risky, but perhaps better risk-reward strategy is to participate in crypto presales.
The idea is that investors secure tokens of promising crypto projects/protocols at a discounted early price.
These projects leverage those funds and pay for the development and marketing of their protocols.
Many failures can occur when investing in a cryptocurrency presale, and unforeseen circumstances can prevent the realization of a project's vision, but smart presale investors routinely make 10x more mistakes. We have secured more profits.
CryptoNews analysts are combing the market as hundreds of pre-sale projects compete for investors' money.
Here are the 14 presale projects with the most potential.
See 14 cryptocurrencies
Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could lose all your capital.
