Biggest Crypto Gainers Today on DEXTools – XD, JBX, FUKU
Blue chip cryptocurrencies are still trading with a positive bias on Wednesday, despite Bitcoin (BTC)’s failure to hold to the north of the $30,000 following two attempted pushes higher.
Bitcoin (BTC) was last trading with gains of around 1% in the last 24 hours, while Ether (ETH) was up close to 0.7% over the same time and changing hands near $1,850.
Traders seem reluctant to push both cryptocurrencies, as well as the broader market, to the north of key short-term resistance levels in the run up to Thursday’s US Consumer Price Index inflation data release.
That data is expected to show a slight rise in the YoY rate of headline inflation in the US to 3.3% in July from 3.0% in June.
For now, optimism about the prompt approval of spot bitcoin ETF applications following commentary from Galaxy Digital CEO Mike Novogratz on Tuesday, as well as regarding PayPal’s move to create its own dollar-pegged stablecoin that should act as an easy fiat to crypto on/off ramp, should keep prices relatively well supported.
In the meantime, volatility will likely remain subdued, meaning traders will continue to turn to the shitcoin/meme coin market for a better prospect of near-term gains.
Here are the top-performing small cap coins as per DEXTools.
A copycat version of Dogecoin, XDoge (XD) has seen an almighty more than 500% pump on Wednesday, surging from around $0.0000000003 to around $0.000000002, as per DEXTools.
Its market cap is now around $850,000, with over 1,250 holders and over $150,000 in trading volumes in the past 24 hours.
As per DEXTools’ GoPlus security audit of the coin, the token’s contract has a 1% buy and sell tax, plus a function that could place limits on transactions and or transaction sizes.
Traders should thus be cautious
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