Top Crypto Gainers Today on DEXScreener – BUFFI, DRGN, BOB
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
On an unequivocally bullish day in crypto markets, which saw most major coins post impressive gains after Fed Chair Jerome Powell opened the door to a series of interest rate cuts, traders turned to the on-chain micro-cap markets in their hunt for top crypto gainers today.
“Inflation has declined significantly,” Fed Chair Powell says at Jackson Hole, later adding: “The time has come for policy to adjust. The direction of travel is clear.” pic.twitter.com/H6AdwPVr0O
Bitcoin (BTC) rallied 6% to the $64,000s, while Ethereum (ETH) and Solana (SOL) gained 5-6% each, per CoinMarketCap.
Some top altcoins, like Popcat (POPCAT), Sui (SUI) and Artificial Intelligence Alliance (FET) gained as much as 20-25% over the last 24 hours, ranking them amongst the top performing major cryptos of the day.
Incoming Fed rate cuts mean that liquidity conditions are going to ease, which tends to be very bullish for risk assets like crypto.
While blue-chip cryptos performed well, new tokens trading in the on-chain DEX markets were still the top crypto gainers today.
Hundreds of new crypto tokens are launched every day on DEXs. And due to their exceedingly low liquidity levels, and the fact they start with market caps of virtually nothing, these tokens can sometimes post huge, rapid gains.
If a trader gets into a token early enough before it goes viral, they stand to make gains of potentially as much as 100x.
But traders attracted at the prospect of going from rags to riches with a small investment are often caught out.
That’s because almost all newly
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