Top Crypto Gainers Today on DEXTools – SENDEX, HABIBI, VIRTU
Bitcoin stole the headlines on Wednesday after briefly surging to $64,000, before an abrupt reversal back to $58,200 eroded intra-day gains back to about 5.5%, while traders hunting for exponential gains continue to turn to the on-chain shitcoin markets in the hunt for top crypto gainers today.
The driving force behind Bitcoin’s recent pump is a surge in demand for spot Bitcoin ETFs.
Indeed, daily trading volumes in BlackRock’s leading spot Bitcoin ETF hit fresh record highs above $2.7 billion on Wednesday.
As Bitcoin surged past $60,000 and on toward a new record, investors pumped a record $520 million into BlackRock’s Bitcoin ETF in a single day https://t.co/a1CkGR9J6w
— Bloomberg Crypto (@crypto) February 28, 2024
Meanwhile, US investment banking giant Morgan Stanley is mulling adding spot Bitcoin ETFs to its massive brokerage platform.
This could open the door to a fresh wave of inflows.
MORGAN STANLEY EVALUATING SPOT BITCOIN ETFS FOR ITS GIANT BROKERAGE PLATFORM- COINDESK
— First Squawk (@FirstSquawk) February 28, 2024
Leading US crypto exchange Coinbase also experienced various technical difficulties on Wednesday.
BREAKING: Coinbase, $COIN, crashes with many users showing $0 balance as #Bitcoin hits $64,000.
After Coinbase crashed, Bitcoin fell $4,000 in just under 30 minutes to $60,000.
Coinbase released a statement saying "your assets are safe" and that they are investigating the… pic.twitter.com/PvIoPensrH
— The Kobeissi Letter (@KobeissiLetter) February 28, 2024
Some analysts interpreted this as a bull-market signal, indicative of a sudden surge in retail demand.
While Bitcoin’s near-term outlook is very bullish, investors searching for much faster gains will continue to scour on-chain shitcoin markets.
Thanks to their low levels of liquidity and tiny market caps, shitcoins are always the top crypto gainers on any given day.
Here are some of the top crypto gainers today that shitcoin traders will be watching, as per DEXTools.
Top Crypto Gainers Today
Sendex AI ($SENDEX)
A just-launched privacy-focused shitcoin coin called Sendex AI ($SENDEX) has pumped 350% in the past 24 hours, as per DEXTools.
Its market cap was last around $650,000, with $103,000 in locked liquidity.
It already has over 350 holders and $630,000 in 24-hour trading volumes.
That’s impressive for the first few days of trade.
Investors should be very cautious of this coin given it has three smart-contract alerts, however.
Habibi ($HABIBI)
An old shitcoin called Habibi ($HABIBI) that was launched last June is up 275% on Wednesday, as per DEXTools.
Its market cap was last at around $400,000 with about $120,000 in liquidity.
It has an exceptional 1,860 holders and has seen 24-hour trading volumes of only around $82,000.
The fact that the latest rally has been pushed by such low trading volumes should serve as a warning sign.
If a small amount of buy pressure can trigger a more than 3x rally, a small amount of sell pressure could cause a catastrophic downside.
The token has been around for over half a year, so is unlikely to be a scam at this point.
VirtuCloud ($VIRTU)
Another just-launched shitcoin called VirtuCloud ($VIRTU) is up 250%, making it one of the top crypto gainers today.
As per DEXTools, its market cap was last around $3.6 million, and liquidity around $371,000.
Investors should be aware of the token’s 5% buy and sell tax.
They should also keep in mind that newly launched coins are nearly always pump-and-dumps or scams.
So investors should always do their due diligence. There’s no such thing as zero risk.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
An innocent-looking project could easily turn out to be a scam, and a few big sell orders could easily drive the price 80% lower.
A strategy that is still risky, but arguably has a better risk reward is getting involved in crypto presales.
The idea is that investors secure tokens of up-and-coming, high-potential crypto projects/protocols at a discounted early price.
These projects then put those funds to work, paying for protocol development and marketing.
While lots can go wrong when investing in crypto presales—unforeseen circumstances can prevent a project from delivering on its vision—savvy presale investors routinely secure gains of 10x or more.
With hundreds of presale projects vying for investor funds, analysts at Cryptonews have been combing the market.
Here are 14 of the presale projects with the highest potential.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
