As Bitcoin (BTC) pushed towards $73,000 on Monday and Ether (ETH) above $4,000, the crypto market rally has broadened in favor of recent laggards, with the likes of XRP (XRP) and Litecoin (LTC) experiencing notable pumps–though these coins were far from the top crypto gainers today.
XRP rallied 16% and Litecoin 20% in the past 24 hours, CoinMarketCap data shows.
Bitcoin (BTC) and Ether (ETH), meanwhile, were each up in the region of 4% over the same time period.
The market continues to derive strong support from spot Bitcoin ETF inflows, which come ahead of next month’s halving.
Ethereum is also set to undergo a major upgrade this week that should give a particular boost for layer-2 protocols.
While the outlook for the broader market remains positive, crypto traders looking for quick gains continue to hunt low-cap coins.
And the undoubtedly best, though also riskiest, place to find such coins is in the on-chain shitcoin markets.
On-chain markets refer to the market for assets (like NFTs or ERC-20 tokens) that have been issued on another blockchain.
For example, the Shiba Inu (SHIB) token lives on the Ethereum blockchain as an ERC-20 token.
The thing with on-chain markets is that almost anyone can launch any coin at any time.
On-chain markets are thus a swamp of shitcoins, the majority of which are either scams or pump-and-dump schemes.
Still, thanks to their low liquidity and tiny market caps, shitcoin markets are the only market where an investors can 10x (or more) their initial investment in under 24 hours.
Here are some of the top crypto gainers today in the shitcoin market that traders will be watching.
A just-launched shitcoin called OpClouds ($OPC) which claims to be transforming decentralized physical infrastructure (DePIN)
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