Top Crypto Gainers Today on DEXScreener – ARKY, PEEPO, THREE
With blue-chip cryptocurrency markets recovering on Friday as macro traders price back in multiple rate cuts for 2024 following the latest US jobs report, traders looking for top crypto gainers today continue to turn to the highly illiquid and volatile on-chain markets for opportunities.
On-chain markets refer to the market for crypto tokens and assets issued directly on the blockchain.
For example, Shiba Inu (SHIB), crypto’s second-largest meme coin, was issued as an ERC-20 token on Ethereum.
It can be traded off-chain on centralized exchanges, but the “real” SHIB trade all occurs on Ethereum.
Wallets can send these tokens between themselves, or SHIB can be traded on decentralized exchanges (DEX).
There is virtually no barrier to anyone launching their own token on a blockchain like Ethereum.
That’s why new meme coins and shitcoins are popping up all the time. New coins often post fast exponential gains – this is why traders flock to the on-chain market. To try to hit the jackpot.
But in these highly illiquid markets, a token can lose virtually all of its value in next to no time.
And that’s not the only risk. Most newly launched tokens are either scams or pump and dump schemes and have no long-term value.
Traders must always do their due diligence before investing. And traders must never risk more than they can afford to lose.
That being said, here are some top crypto gainers today on Ethereum, according to DEX analytics tool DEXScreener.
A new dog meme coin called Arky (ARKY), which claims to be named after the Bitcoin founder’s dog, is pumping.
Last up 15,300% as per DEXScreener, it’s one of the top crypto gainers today.
https://twitter.com/Arky_Coin/status/1786257974639661389
The token last had a market cap of around $630,000
Read more on cryptonews.com
