Top Crypto Gainers Today on DEXScreener – SPURDO, BRETT, OMIKAMI
As blue-chip cryptocurrencies post a strong finish to the week, with Bitcoin (BTC), Ether (ETH) and Solana (SOL) up 2.5%-5.5% each over the past 24 hours, traders are turning to the on-chain meme coin markets as they hunt for top crypto gainers today.
Bitcoin topped $67,000 on Friday, while Ether and Solana rallied to the upper $3,000s and $160s respectively.
US CPI data earlier this week bolstered hopes for multiple Fed interest rate cuts later in the year.
US core #inflation cools for 1st time in 6 mths in relief for Fed and financial markets. April core CPI, which excl food and energy costs, increased 0.3% from March MoM after +0.4% MoM prev month. From a year ago, it advanced 3.6% in Apr after +3.8% YoY in March. Overall… pic.twitter.com/0MzgiswrxF
— Holger Zschaepitz (@Schuldensuehner) May 15, 2024
That helped launch major US equity indices back to record highs, whilst weighing on the US Dollar and US yields.
Spot Bitcoin ETF inflows have also risen this week. As per The Block data, inflows are already above $750 million since Monday.
Meanwhile, more than 500 asset managers revealing exposure to the new Bitcoin ETFs in their 13F filings.
These include some major and some surprising names, such as Morgan Stanley and a US state pension fund.
On net, in wake of all this bullish news flow, it’s no surprise that cryptos are trading with decent momentum.
Let’s not forget that GameStop icon Roaring Kitty also returned on Monday, injecting huge excitement into meme stock/meme coin markets.
With most major cryptos still some way below yearly highs, the outlook for a continued rally is good.
However, for some impatient traders, the prospect of a 10-20% rally in a few weeks isn’t nearly enough.
These traders prefer to turn to the highly
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