Biggest Crypto Gainers Today on DEXTools – X, KITE, NYAN
Blue chip cryptocurrencies are going sideways as investors await the US Federal Reserve’s upcoming policy announcement, with a 25 bps rate hike to 5.25-5.5% widely expected by market participants.
The Fed’s tone on the likelihood for further interest rates hikes later this year will likely be the main catalyst for price action in the crypto market.
Expect bitcoin (BTC), ether (ETH) and the rest of the market to rally if markets deem more rate hikes as less likely later this year in wake of today’s policy announcement.
For now, bitcoin is going sideways in the low $29,000s while ether remains marooned in the mid-$1,800s.
With price action in blue chip crypto markets subdued, degens unsurprisingly continue to hunt for volatility and the prospect of short-term gains in the meme coin/shitcoin market.
Here are some of the top-gaining Ethereum-based coins of the day, as per DEXTools.
In wake of Elon Musk’s big Twitter rebranding to X, which opens the door for the social media platform to become an “everything” app, a number of copycat X tokens have spawned and been pumping.
The X (X) of the contract address 0xa62894d5196bc44e4c3978400ad07e7b30352372 was one of the first to pop up over the weekend and just hit fresh all-time highs at around $0.000015, giving it a market cap of around $15 million.
That means it is up around 7,500x versus its weekend DEX launch price of around $0.000000002.
Of course, the token has no real value and nothing to do with Musk’s rebranding from Twitter to X.
But it has still managed to garner around 5,860 holders, has a locked liquidity pool worth nearly $500,000 and has seen huge trading volumes of nearly $24 million since its launch, as per DEXTools.
Be aware of a scam coin called Kite (KITE) which sits near
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