With the bulls clearly still in control of the broader crypto market, traders hunting for top crypto gainers today continue to flock to on-chain shitcoin markets in the hope of turning quick exponential profits.
Bitcoin (BTC) has been pumping hard in the weeks since the launch of US spot Bitcoin ETFs.
BlackRock’s IBIT ETF has been leading the charge, and set a new volume record on Thursday.
$IBIT had almost $4 billion in volume today.
Some crazy numbers.
Today was one of the highest volume days since #Bitcoin ETFs were launched. pic.twitter.com/nWjWMEW2RH
— Rajat Soni, CFA (@rajatsonifnance) March 14, 2024
Indeed, volumes have been swelling exponentially in the past few weeks. March volumes have already crushed January and February volumes, Bloomberg ETF analyst Eric Balchunas reported.
Here's monthly volume for the ten btc ETFs. March is only half over but has already smashed the numbers from Feb and Jan w/ $65b. pic.twitter.com/UpZ6pFgQgt
— Eric Balchunas (@EricBalchunas) March 14, 2024
As institutional money continues to poor in, Bitcoin could yet hit $100,000 before the April halving.
That means it could easily see gains of 50% from here.
But that’s nowhere near enough for many traders, who are looking to secure gains in the 50-100x region.
And the only place where a trader has any real shot of making such gains is by finding a diamond in the rough in the on-chain shitcoin markets.
On-chain markets refer to the market for digital assets that have been issued directly on top an existing blockchain.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can then be traded on decentralized exchanges, and also perhaps on centralized exchanges if they get big enough.
They are often referred to as shitcoin markets because virtually anyone can issue a token at any time.
As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
Here are a few of the top crypto gainers today on Ethereum that traders will be monitoring.
Top Crypto Gainers Today
BabySTRK ($BABYSTRK)
A shitcoin called BabySTRK ($BABYSTRK) has pumped up 67,000% since launching on Thursday, as per DEXTools.
Its market cap was last around $2.6 million, with close to $300,000 in liquidity and already 65 holders.
That’s not bad stuff for a first day of trade. Plus its smart contract appears squeeky clean, as per DEXTools’ smart contract audit.
Still, there are no zero-risk investments in the shitcoin market. Investors must always do their due diligence.
HuskyInu ($HUSKY)
A shitcoin called HuskyInu ($HUSKY) is trying to make a comeback. It was last up over 21,000% on Thursday, as per DEXTools.
Its market cap is just under $1 million and liquidity under $250,000.
But investors should be very cautious with this coin. Honeypot.io seems to think it might be a honeypot scam.
Drama AI ($DRAI)
Another just-launched shitcoin called Drama AI ($DRAI) is up close to 5,000% in under 24 hours, as per DEXTools.
Its market cap was still only around $750,000 with $220,000 in locked liquidity.
But investors shouldn’t let locked liquidity lure them into a false sense of security regarding this coin.
That’s because the token could be a honeypot scam, as per website Honeypot.io.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
An innocent-looking project could easily turn out to be a scam, and a few big sell orders could easily drive the price 80% lower.
A strategy that is still risky, but arguably has a better risk reward is getting involved in crypto presales.
The idea is that investors secure tokens of up-and-coming, high-potential crypto projects/protocols at a discounted early price.
These projects then put those funds to work, paying for protocol development and marketing.
While lots can go wrong when investing in crypto presales—unforeseen circumstances can prevent a project from delivering on its vision—savvy presale investors routinely secure gains of 10x or more.
With hundreds of presale projects vying for investor funds, analysts at Cryptonews have been combing the market.
Here are 14 of the presale projects with the highest potential.
See the 14 Cryptocurrencies
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