Top Crypto Gainers Today on DEXScreener – RWA, PoP, PARO
On a boring day in the blue-chip cryptocurrency markets where Bitcoin (BTC) went sideways in the $70,000-$71,000 area and Ether (ETH) was rangebound in the $3,500 area, traders instead turned to the highly volatile and illiquid micro-cap on-chain markets to hunt for top crypto gainers today.
While substantially riskier than the spot markets for major cryptos, on-chain markets offer the possibility of quick gains.
Newly launched micro-cap cryptos trading in the on-chain markets routinely post 20-100x gains in as little as one day.
That being said, it’s not uncommon for these cryptos to drop 90% or more in one day.
In such illiquid markets, a few big buy or sell orders can trigger huge price moves.
But on-chain markets carry many more risks beyond their low liquidity and volatility.
Indeed, given there is virtually no barrier to a blockchain user launching their own coin, the vast majority of tokens launched each day are scams, pump-and-dumps or rug pulls.
In other words, they are a means for scammers to unload their worthless tokens on unsuspecting victims.
On-chain micro-cap markets are thus exceedingly risky. It is crucial that traders do their own research before buying any tokens.
And even if they feel they understand a token/project well, traders should never invest more than they can afford to lose. Even the most legitimate-looking new projects and tokens can turn out to be scams.
Let’s take a look at some of the top crypto gainers today in the Ethereum on-chain markets.
Top Crypto Gainers Today
RWA-AI (RWA)
A just-launched token that claims to sit at the intersection of two major themes in crypto, the tokenization of real-world assets and AI, called RWA-AI (RWA) has pumped hard on Thursday.
https://twitter.com/RWA4AI/status/1778405387126865985
Since its launch earlier in the day, its up 6,000%, with a market cap of $688,000.
That’s according to DEXScreener, who puts its liquidity at $170,000 and 24-hour trading volumes at $640,000.
Go+ Security identifies five concerning aspects to its smart contract however. Traders should be wary that it could be a scam.
PondPay (PoP)
A shitcoin called PondPay (PoP) is pumping for a second straight day.
Today marks a monumental milestone for us.
This is the beginning of a new era in the crypto payment world. For the first time ever, you can now access a refund option and send payments with total security, even among anonymous Web3 users, thanks to PondPay. pic.twitter.com/V9TAN05vjO
— PondPay (@pondpay_ai) April 12, 2024
As per DEXScreener, it was last up 567% in the past 24 hours, with a market cap of $674,000.
The token last had liquidity of $358,000 and over $1 million in 24-hour trading volumes.
Traders should be careful of this coin. It only has two smart contract issues, as identified by Go+ Security.
But there are spelling errors in its bio on DEXScreener. Moreover, of the 8 votes that DEXScreener users have left regarding the coin, 5 are red flags.
Clearly there isn’t much trust that this coin has any real utility.
Parobot (PARO)
A new shitcoin called Parobot (PARO) is up 356% one day after launch as per DEXScreener.
The token last had a market cap of $322,000, with $260,000 in locked liquidity and $1.9 million in 24-hour volumes.
Traders should be cautious of the token. Go+ Security shows that token transfers are pausable and that there is a 4-5% buy/sell tax.
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 17 of the presale projects with the highest potential.
See the 17 Cryptocurrencies
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