🚀 Crypto Degens Still Hunting Fast Gains Despite Bitcoin Slide 📉

Although top-tier cryptocurrencies have decreased in value, smaller market cap coins are experiencing a surge, with CBDC, TEST, and TRUMP being the top performers on Uniswap today.

The biggest crypto gainers on Uniswap today – CBDC, TEST, TRUMP.

Last updated: January 18, 2024 02:03 EST | 3 min read

Joel Frank

Despite the recent slide in the Bitcoin (BTC) price to fresh 2024 lows under $41,500, crypto degens are still on the hunt for fast gains in low-cap markets. Today, CBDC, TEST, and TRUMP have been the biggest gainers on Uniswap.

📉 Bitcoin Price Slump Triggers Sell-Off 💔

Many major cryptocurrencies are trading in the red today, likely due to Bitcoin’s sell-off. The cryptocurrency is still experiencing a sell-the-fact reaction to last week’s spot Bitcoin ETF approvals.

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The launch of new spot Bitcoin ETFs has generated strong demand, with BlackRock’s ETF already attracting over $1 billion of inflows. However, this seems to be a rotation, as Grayscale is currently selling substantial amounts of Bitcoin from its Grayscale Bitcoin Trust ETF. Concerns about these sales are weighing on the Bitcoin price.

Additionally, the macro backdrop is also a headwind, with the US dollar and US yields pushing higher.

🏆 The Future Looks Promising for Bitcoin 👀

Despite the short-term price decline, Bitcoin’s long-term outlook remains strong. Factors such as the upcoming halving, expected Fed rate cuts this year, and ongoing ETF inflows contribute to this positive outlook. However, it’s important to acknowledge that the price may continue to decline in the near term, potentially retesting sub-$40,000 levels.

This downbeat outlook is likely to increase the attractiveness of the wild low-cap crypto markets. These markets are known for their volatility, where new meme coins and shitcoins can deliver gains of 5-10x within 24 hours. The low levels of liquidity in these markets contribute to these drastic price movements. But as tokens rise quickly, they can also fall just as fast.

⚠️ Beware of Scammers and Rug Pulls 👀

While the potential for huge gains exists in the low-cap token market, it is also plagued by scams. Scammers may promote a new token to generate a price pump, only to abandon the project after cashing in — a phenomenon known as a “rug pull.” They may also insert nefarious code into the token’s smart contract to deceive potential buyers.

Investors must exercise great caution when getting involved in these markets.

🚀 Today’s Biggest Crypto Gainers on Uniswap 📈

Here are some of the biggest gainers today on Uniswap, one of the best-known decentralized exchanges:

CBDC (CBDC)OnedayafterformerUSPresidentDonaldTrumpvowedtoneverallowacentralbankdigitalcurrency(CBDC)intheUSA, ashitcoincalledCBDC(CBDC) has experienced significant gains. As per Uniswap, it was up over 1,100% in the past 24 hours, making it one of the biggest gainers today. However, its market cap has decreased to around $150,000.

TEST Token (TEST)AnewmemecoinnamedTESTToken(TEST) has risen by 250% in the last 24 hours on Uniswap. With a market cap of around $360,000, it’s one of today’s top gainers. Additionally, it has nearly $200,000 in locked liquidity, reducing the risk of a rug pull.

FreeTrump (TRUMP)Trump − relatedtokenslikeFreeTrump(TRUMP) have surged after Trump’s victory in the Iowa primary election. $TRUMP is up 140%, making it one of the biggest gainers today. As per DEXTools, its market cap is approximately $270,000, with around $73,000 in locked liquidity.

🚨 Consider Alternative High-Risk, High-Reward Investments 🆕🔝

For those seeking better near-term gains, participating in crypto presales can be an alternative high-risk, high-reward investment strategy. In presales, investors buy tokens of upstart crypto projects to help fund their development. These tokens are usually sold at lower prices, and historically, presales have delivered exponential gains to early investors.

However, it’s essential to thoroughly research the projects before investing. The team at Blocking.net has compiled a list of what we believe to be the 15 best crypto presales of 2023.

See the 15 Cryptocurrencies

⚠️ Disclosure: Crypto is a high-risk asset class. This article provides information and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilize affiliate links within our content and receive a commission.

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📚 References

• Bitcoin ETF Excitement
• CoinMarketCap
• Bitcoin’s Sell-the-Fact Reaction
• Low Cap Crypto Markets
• Web3’s Best-known Decentralized Exchange
• Crypto Presales

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