Major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) have been consolidating close to two-week highs, prompting traders to turn to on-chain shitcoin markets in search of quick gains. On-chain markets are where digital assets are issued directly on an existing blockchain, such as Ethereum, as ERC-20 tokens. These tokens can be traded on decentralized exchanges and potentially on centralized exchanges if they gain enough traction. While on-chain markets are known for scams and pump-and-dump schemes, they are also where tokens can rally significantly, making them attractive to traders looking for high returns.
Some of the top crypto gainers today on Ethereum include Voidz ($VDZ), which has seen gains of around 135,000% in the past 24 hours with a market cap of $10.8 million and just under $600,000 in liquidity. However, caution is advised as there are concerning aspects to its smart contract that suggest it could be a scam. Shiva Inu ($SHIV) is another recently launched shitcoin that has surged 65,000% in 24 hours, reaching a market cap of $2.7 million with $224,000 in locked liquidity. Traders are urged to do their due diligence when investing in such volatile markets.
Decentralized Cloud Infrastructure ($DCI) has seen an increase of 13,000% since launching on Ethereum, with a market cap nearing $3 million and $1 million in trading volumes. The token also has $427,000 in locked liquidity. However, the issuer retains the power to change the token’s tax, posing a risk to investors. Investing in low-cap shitcoins is risky as projects could turn out to be scams, and large sell orders could significantly decrease the price. An alternative strategy is getting involved in crypto presales, where investors can secure tokens of promising projects at an early discounted price, potentially leading to significant gains.
Crypto presales involve investors securing tokens of high-potential crypto projects at an early stage, before they are available to the public. Investors then contribute funds to the projects for development and marketing. While investing in presales is risky and unforeseen circumstances could impact the projects, savvy investors can secure gains of 10x or more. Analysts at Cryptonews have identified 14 presale projects with high potential that investors may consider. It is important to note that investing in crypto is a high-risk asset class, and individuals should exercise caution and conduct thorough research before making any investment decisions. Risk of losing all capital is present in this volatile market.
