The biggest crypto gainers today on Uniswap are $PNDC, $SPX and $MOG, while blue chip cryptocurrency markets are mixed on Wednesday in wake of the SEC’s approval of multiple spot Bitcoin ETFs.
Bitcoin (BTC) is choppy just under $46,000, with traders looking ahead to the launch of spot ETF trade on Thursday.
Ether (ETH), meanwhile, has pumped up over 7.5% and is leading an altcoin rally.
The overall crypto market’s total capitalization is up just over 2% in the last 24 hours to $1.71 trillion.
While the broader crypto market is performing well, the biggest crypto gainers of the day can be found on Uniswap.
Uniswap is a decentralized exchange (DEX) where web3 users can trade tokens issued on major blockchains like Ethereum.
Generally, these markets are much more illiquid and volatile than the markets for major cryptocurrencies.
Moreover, tokens trading on Uniswap generally have a much lower market capitalization than blue chip coins.
That being said, here are some of the biggest crypto gainers today on Uniswap.
PondCoin ($PNDC)
A shitcoin called PondCoin ($PNDC) has pumped up 160% in the past 24 hours, according to Uniswap.
That makes it one of the best-performing low-cap coins of the day.
As per DEXTools, its market cap was last $11 million, with $7.4 million of 24-hour trading volumes.
The token has close to $600,000 in liquidity and 15,700 holders.
Its latest rally comes as the price attempts a rebound from a recent severe dip.
Investors should be cautious that it could be nothing more than a dead cat bounce.
SPX6900 ($SPX)
Another shitcoin called SPX6900 ($SPX) has pumped up an impressive nearly 50% in the past 24 hours, as per Uniswap.
Its market cap was last around $9.66 million, with 24-hour trading volumes of $615,000, according to DEXTools.
The token also has over $800,000 in locked liquidity and nearly 4,400 holders.
Investors should be cautious because DEXTools’ security audit has revealed three concerning aspects to its smart contract.
These include potential antiwhale and trading cooldown functions.
Mog Coin ($MOG)
Meme community-focused shitcoin Mog Coin ($MOG) is up around 50% on Wednesday, as per Uniswap.
The token’s market cap was last around $26 million, with $1.7 million in locked liquidity and 5,800 holders.
Mog Coin also has three concerning aspects to its smart contract, as per DEXTools’ security audit.
Crypto Alternatives to Consider
Low-cap coins can offer huge potential returns but also come with a lot of risk.
For those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
See the 15 Cryptocurrencies
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes 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 commission.
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