According to DEXTools, a platform that helps people trade cryptocurrencies on the Ethereum blockchain, some of the top gainers today are CSHIB, DADA, and FERRET. These tokens have seen significant increases in their prices compared to others in the market.
While Bitcoin is making headlines by surpassing $50,000 for the first time since late 2021, investors aiming for quick profits are focusing on the top cryptocurrency gainers listed today on DEXTools. These tokens are attracting attention due to their notable price increases in the market.
Bitcoin and Altcoins Show Positive Momentum Amid ETF Inflows
Amid growing optimism surrounding the inflows into spot Bitcoin ETFs, the price of Bitcoin edged close to $50,000, marking a 3.5% increase on Monday. According to CoinShares, spot Bitcoin ETFs recorded $1.1 billion in net inflows last week, while the assets under management (AUM) for nine newly launched spot Bitcoin ETFs surpassed $10 billion, excluding Grayscale’s converted GBTC.
Ether (ETH) also saw a positive movement, rising by just over 4% on Monday and crossing the $2,600 mark again. Similarly, other top 10 cryptocurrencies such as Solana (SOL), Cardano (ADA), Avalanche (AVAX), and Chainlink (LINK) exhibited gains ranging between 1-3% over the past 24 hours, as reported by CoinMarketCap.
However, the upcoming release of US Consumer Price Index (CPI) data on Tuesday could potentially trigger volatility in the crypto market, depending on its impact on expectations for Federal Reserve rate cuts. While blue-chip cryptocurrencies may continue to see upward momentum in the following sessions, meme coins and less established tokens could witness even larger gains due to their lower liquidity, making them susceptible to significant price movements.
Additionally, DEXTools highlights some of the top gainers today on the Ethereum blockchain, further indicating the dynamic nature of the crypto market.
Analysis of Top Crypto Gainers: CyberShib, DaDa, and Ferret AI
CyberShib ($CSHIB)
CyberShib ($CSHIB) has surged by an astonishing 4,700% on DEXTools, making it the leading gainer in the crypto market today. However, caution is advised, as there are suspicions that this token may be a scam. DEXTools’ smart contract audit revealed uncertainty regarding its status, with potential indicators of a honeypot scam. Moreover, its tax structure seems adjustable, allowing for sudden implementation of a 100% sell tax, raising concerns about investors potentially losing all their funds.
DaDa (DADA)
Chinese New Year meme coin DaDa (DADA) has experienced a significant pump of 140% on Monday, according to DEXTools. With a market cap surpassing $500,000, it boasts high DEXTscore of 90/99 and minimal smart contract alerts, indicating a lower likelihood of being a scam. However, investors are urged to exercise caution, particularly with low-cap coins, despite their seemingly innocent nature.
Ferret AI (FERRET)
Ferret AI (FERRET), a token capitalizing on the buzz surrounding a newly launched Apple AI tool, has seen a surge of around 130% in the past 24 hours, positioning itself as one of the top gainers in the crypto market today. With a market cap hovering around $485,000 and $110,000 in locked liquidity, it currently has over 2,600 holders. Nonetheless, investors should remain vigilant, as the token has received three smart contract alerts, suggesting potential scam risks.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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