Discover the Biggest Crypto Gainers Today on DEXTools – GeneraitivAI, ZkTsunami, Prophet
Bitcoin (BTC) experienced a brief dip below $26,000 on Monday, marking its lowest point in over a week. However, it has since recovered to the $26,200 range. Despite this recovery, it has struggled to surpass its 21-day moving average which is currently just below $26,300. The leading cryptocurrency is on track to end Q3 with a 15% loss, largely impacted by increasing US government bond yields that suggest the Federal Reserve will maintain higher interest rates for a longer period due to the strong US economy. Higher yields on risk-free assets such as US government bonds reduce the appeal of non-yielding assets like Bitcoin.
Ether (ETH) is also trading below its 21-day moving average, indicating a bearish trend in the overall market. Currently valued just under $1,600, Ether’s performance mirrors the broader market sentiment.
This week, the release of US Core PCE Inflation data on Friday will be a significant event to monitor as it is the Federal Reserve’s preferred measure of inflation. Prior to that release, the crypto market is expected to be relatively quiet, with major cryptocurrencies likely to remain range-bound.
Meanwhile, traders seeking short-term gains are turning their attention to low-cap coins known as “shitcoins” or meme coins. Several low-cap coins on DEXTools have shown impressive gains recently. Let’s take a closer look at three of the top performers:
GeneraitivAI ($GIA) is an AI platform that aims to empower and reward AI contributors in a community-driven manner. Over the past 24 hours, $GIA has experienced a nearly 100% increase in value. It is poised to reach its previous all-time high of around $0.40 per token, achieved back in February. The current market capitalization of $GIA is over $2.5 million, with locked liquidity exceeding $530,000. However, a security audit by DEXTools has identified some concerning aspects of $GIA’s token contract, including a modifiable 5% buy and sell tax that enables potential interference with trades.
ZkTsunami ($:ZKT) is a platform leveraging ZK-AnonSNARK-powered transactional anonymity for users. On Monday, $:ZKT surged by 50%, making it one of the best performers on DEXTools. It currently boasts a market capitalization close to $2.0 million, with locked liquidity amounting to $240,000 and over 2,600 holders. However, potential investors should exercise caution due to certain elements of $:ZKT’s token contract, such as a 4% buy and sell tax and functions that allow improper influence on trades. Moreover, DEXTools’ community trust score reveals that only 60% of users have upvoted $:ZKT.
A newcomer in the crypto market, Prophet ($PROPHET), has gained nearly 50% in value on Monday. Its market capitalization is close to $2 million, with locked liquidity just below $200,000 and approximately 1,200 holders. Despite its recent strong performance, there are certain aspects of $PROPHET’s token contract that raise concerns, including a modifiable 5% buy and sell tax and functions that allow unfair trade interference. Additionally, DEXTools’ community trust score indicates a 55% downvoting rate for $PROPHET. Traders should exercise extreme caution when considering investments in this coin.
Crypto Alternatives to Consider
Investing in “shitcoins” or meme coins carries inherent risks due to their limited value proposition. For those seeking higher probabilities of short-term gains, an alternative strategy to consider is participating in crypto presales. These presales involve purchasing tokens of emerging crypto projects to support their development. Typically, these tokens are sold at low prices, and historical data shows that early investors in presales have reaped significant gains.
However, it is crucial to identify promising projects with strong teams and innovative visions for revolutionary crypto applications/platforms. To assist investors in this regard, Cryptonews has diligently curated a list of 15 top crypto presales for the year 2023.
Click here to see the 15 recommended cryptocurrencies.
Disclaimer: Crypto investments are high-risk ventures, and this article is provided for informational purposes only and should not be considered investment advice. There is a potential risk of losing all invested capital.