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Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
News that Mt Gox repayments will be delayed for another year has been met with cheers across crypto markets. Most major coins enjoy substantial upside, though the top crypto gainers today can all be found in the DEX markets.
Bitcoin (BTC) surged 5.5% in the past 24 hours to rise above $63,000, while the likes of Ethereum (ETH) and Solana (SOL) also saw strong gains.
Could the Mt Gox repayment delay have triggered the start of the next leg of the crypto bull market?
Well, we are in the middle of October, which is historically BTC’s best month of the year.
History could repeat itself this month, setting up a strong end to the year—ardently pro-crypto Republican Presidential nominee Donald Trump is increasingly favored to win next month’s US Presidential election.
And his (potential) win comes against the backdrop of the Fed easing rates to keep the US economy out of recession and (potentially) the onset of post-Bitcoin halving tailwinds.
Major cryptos could soon be headed back towards yearly highs.
But many impatient traders are hunting for faster gains and often hunt for top crypto gainers today in the highly risky DEX markets
Trading in the DEX Markets – What You Need to Know
The prospect of getting rich quickly is the main allure of the DEX markets.
In their early stages, new tokens often experience significant price volatility, and traders can capitalize on sharp price movements.
Investing early in the right project can lead to exponential gains, as seen with some well-known tokens that started small and became market leaders.
No wonder traders flock here on the hunt for top crypto gainers today.
Moreover, DEXs operate in a permissionless and decentralized manner.
That means anyone with a cryptocurrency wallet can trade new tokens without needing approval or permission from a centralized authority.
New coins are frequently listed on DEXs first, making them accessible before they reach centralized exchanges (CEXs).
Another benefit of DEXs is the variety of new coins.
The choices are endless, from meme coins to innovative DeFi (decentralized finance) projects.
However, DEX trading is fraught with risk. The potential for scams or “rug pulls” is very high.
Rug pulls occur when developers abandon the project after collecting funds, leaving traders with worthless tokens.
Anyone can easily create and list a token on a DEX, meaning it’s easy for malicious actors to create fraudulent projects.
Traders must diligently research the credibility and transparency of projects before investing.
Extreme price volatility due to low liquidity is another consideration for traders.
Prices can spike or crash within minutes, and low liquidity means large trades can significantly impact the market price.
Traders who aren’t careful can buy at a peak or sell during a sharp dip, leading to substantial losses.
That said, according to DEXScreener, here are some top crypto gainers today that traders will be looking at.
Top Crypto Gainers Today – Which Are They?
An Ethereum meme coin called NVDA6900 (NVDA) has increased by a staggering 63,000% in the past 24 hours, according to DEXScreener.
NVDA has already experienced huge volatility.
While its price has recovered in recent trade, with its market cap last at $1.5 million, NVDA saw a whopping price crash a few hours ago from over $0.0043 to around $0.0003.
This looks very much like a pump-and-dump token.
Elsewhere, a new Solana meme coin called Goatseus Maximus (GOAT) is another one of the top crypto gainers today.
Per DEXScreener, it was last up 24,900% in the past 24 hours, reaching a market cap of $13.1 million.
The fun meme coin is community-owned and has seen strong price action since launching on Thursday.
Of course, that doesn’t mean this token is without risk. Traders must always do their due diligence.
The final name on the top crypto gainers today list worth mentioning is Base meme coin Russell (RUSSELL).
According to DEXScreener, after rising 6,500% in 24 hours, RUSSELL has reached a market cap of $4.4 million.
The cute meme coin has 139 rocketship emoji votes on DEXScreener versus 46 red flag emoji votes.
It also has no concerning aspects to its smart contract, per a DEXScreener audit.
Again, that doesn’t mean a DEX coin like this is without risk.
Perhaps a safer way for investors to get into high-potential new meme coins early would be for them to check out meme coin presales.
Presales provide investors with a longer time to conduct their due diligence and research, reducing the likelihood that they will make a bad, FOMO-fuelled decision.
Here is Cryptonews.com’s list of the best meme coin presales right now.
18 Best New Meme Coins to Buy in October 2024
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.
