The cryptocurrency market experienced a mostly bearish day on Tuesday, with Render (RNDR), Kaspa (KAS), and Tron (TRX) emerging as the top gainers trading in the green over the past 24 hours. Bitcoin (BTC) dropped 1.2% to the low $62,000s, remaining substantially higher compared to last week’s lows, but struggling to regain full control. The SEC issued a Wells Notice to Robinhood, raising regulatory uncertainty in the US, impacting the outlook for Bitcoin’s consolidation in the months ahead. As a result, Bitcoin lacks narrative strength to push higher and is expected to remain within recent trading ranges.
With blue-chip cryptocurrencies unlikely to provide excitement in the upcoming months, traders are looking for alternatives in the highly volatile and illiquid on-chain markets, using tools like DEXScreener to find top crypto gainers. However, investors must exercise caution as many new coins issued on-chain could be scams, rug pulls, or pump-and-dumps. Some of the top crypto gainers on Ethereum highlighted by DEXScreener include WalletAI (WALLETAI), Bobo (BOBO), and Mew on ETH (MEW). These cryptocurrencies have seen significant gains but lack certain key information, raising red flags about their credibility and potential risks.
For investors looking for high-risk, speculative investments, a better alternative could be presale investing in upstart crypto projects before they gain traction. Wiener AI (WAI), a new AI meme coin with sausage dog themes, has caught the attention of analysts for its AI trading capabilities. Investors with a high-risk tolerance have the opportunity to invest in WAI, which has raised over $1.2 million and offers potential gains of 10x or more. In addition to its AI capabilities, WAI also provides passive income opportunities with a significant percentage of supply allocated to staking rewards.
Considering the risks associated with investing in cryptocurrencies, investors should conduct thorough due diligence and research before investing. Scams, rug pulls, and pump-and-dump schemes are prevalent in the cryptocurrency market, and caution is advised when exploring new opportunities. Picking high-potential projects and conducting proper research can mitigate risks and increase the chances of significant gains. As the market continues to evolve, investors must stay informed about the latest developments, regulatory changes, and market trends to make informed investment decisions and navigate the volatile cryptocurrency landscape.
