As major cryptocurrencies like bitcoin (BTC) and ethereum (ETH) continue to trade with a bearish bias during Wednesday Asia Pacific trade, traders are turning to the on-chain DEX markets in their hunt for top crypto gainers today that might be able to deliver quick gains.
bitcoin ebbed lower towards $57,000 while ethereum bears eyed another push under $2,400, as US recession fears lingered ahead of key upcoming US economic data releases.
ISM Manufacturing PMI data released on Tuesday and JOLTs Job Openings data released on Wednesday were weak, weighing on sentiment.
But the most important data releases this week are yet to arrive.
If Thursday ISM Services PMI report and Friday’s August jobs data also underwhelm, risk assets could continue to drop.
That’s despite the likelihood that expectations for Fed rate cuts would also rise.
Top crypto Gainers Today – Which Are They?
A new ethereum token launching protocol called Taxfarm.ing (FARM) has seen an explosive start to life.
FARM’s market cap was last just over $10 million, up a stunning 250,000% since its launch.
That makes FARM undisputedly one of the top crypto gainers today, per DEXScreener.
Traders will have to do their own due diligence before investing, but Taxfarm.ing does look like an interesting project.
Traders should note that, with just over $300,000 in locked liquidity, the FARM price could see large swings due to a relatively small amount of buy or sell pressure.
Elsewhere, another one of the top crypto gainers today is another token creation protocol called Ethervista (VISTA).
VISTA, which has been described as the pump.fun of ethereum, last had a market cap of $35 million.
VISTA was last up 70% in the past 24 hours, per DEXScreener.
Ethervista has been securing dozens of lower-tier exchange listings over the past 24 hours.
And the protocol’s just launched “safe token” standard on its in-house DEX could spur fresh hype surrounding the project.
Finally, an ethereum meme coin called Neiro (NEIRO) is another one of the top crypto gainers today.
NEIRO was last up around 110% in the past 24 hours, its market cap just under $60 million per DEXScreener.
With NEIRO down nearly 80% from its August highs, some traders might be tempted to buy the dip.
But in on-chain DEX markets, most tokens don’t recover following their first pump-and-dump cycle.
Better Alternative to Top crypto Gainers Today
Trading new coins in the on-chain DEX markets is highly risky.
Most are scams or pump-and-dump schemes.
And almost none go on to hold long-term value.
Meanwhile, volatility often scares traders into making poor buy/sell decisions.
A common mistake is that a trader will see a coin rapidly rising and FOMO in, only for the price to then sharply drop.
A better idea might be to invest in meme coin presales.
Presales normally run for a few weeks before launching their token.
That allows investors plenty of time for research and due diligence.
Here are some of the best crypto presales in the market right now, per analysts at Cryptonews.com.
crypto-presales/#:~:text=Our%20analysis%20shows%20the%20best,Meme%20Games%2C%20and%20Shiba%20Shootout.">19 Best crypto Presales to Invest In Now
