Top Crypto Gainers Today on DEXScreener – BRR, r/gustav, GMEC
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 a day where major cryptos took a beating amid rising recession fears and headwinds relating to September seasonality, some traders switched their focus to the on-chain DEX markets as they hunted for top crypto gainers today.
The latest US jobs report, while not disastrous, seemingly didn’t do enough to ease growing fears that the US might soon slide into recession.
As US payrolls came in short of forecasts, Shana Sissel of @Banrion_Capital says the Fed is in line to cut 25 basis points this month https://t.co/PajWqQOdO9 pic.twitter.com/q12xKCLgcr
And as US equity markets crumbled and US bond yields slid, Bitcoin (BTC) led a crypto market decline, falling over 4% to under $54,000, per TradingView.
With blue-chip cryptos unlikely to deliver quick gains, impatient traders often turn to on-chain DEXmarkets instead.
Even in bearish crypto market conditions, newly launched coins can still post massive intra-day gains.
Indeed, the appeal of going from rags to riches in with a 100x investment in the DEX markets is a major reason why traders flock to these highly risky markets.
Newly launched coins are risky for a number of reasons. Firstly, low liquidity means extremely high levels of volatility.
Secondly, most newly launched coins are either scams, or pump-and-dump/exit liquidity schemes.
So traders must do their due diligence before getting involved in these markets and not risk more than they can afford to lose.
That being said, here are some top crypto gainers today in the DEX markets, per DEXScreener.
The top three crypto
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