Conditions in blue-chip cryptocurrency markets are tepid on Tuesday, with major names largely within recent ranges, but the biggest crypto gainers today on Uniswap keep pumping.
Bitcoin (BTC) was last up 1% in 24 hours, as per CoinMarketCap, and trading to the north of $43,000.
Ether (ETH), meanwhile, was last up around 2.5% and above $2,350.
Crypto markets continue to monitor themes such as flows into recently launched spot Bitcoin ETFs and US inflation.
Speaking of, US Consumer Price Index (CPI) data is set for release next Tuesday.
It could well be the next major catalyst for the crypto market.
Bitcoin bulls are hoping that bets that the Fed will ease interest rates later this year as inflation falls, spot Bitcoin ETF flows and the upcoming issuance rate halving can inject upwards momentum back into the price, and that BTC can retest its recent $49,000 highs in the upcoming months.
But with the market remaining subdued for now, AZR, YES and PANDORA have emerged as the biggest crypto gainers today.
Small-cap cryptocurrencies are almost always pumping and nearly always also take the mantle for the biggest crypto gainers each day.
That’s because their low level of liquidity means that relatively small buy pressure can easily result in fast exponential gains.
While blue-chip cryptocurrencies can offer good upside prospects, traders looking to make quick profits usually turn to low-cap markets.
That being said, here are some of the biggest crypto gainers today on web3’s best-known decentralized exchange (DEX) Uniswap.
Biggest Crypto Gainers Today
Azure (AZR)
An Ethereum layer-2 scaling solution called Azure (AZR) that was launched last month just pumped around 950% as per Uniswap.
That makes it one of the biggest crypto gainers today.
As per DEXTools, the token’s market cap was still modest at just $2.3 million.
Meanwhile, it has locked liquidity of around $150,000 and just over 1,000 holders.
The protocol boasts EVM and zero-knowledge technology.
But is has a 5% buy and sell tax, so traders should be cautious of getting involved.
Yes (YES)
A shitcoin called Yes (YES) is up around 300% in 24 hours, as per Uniswap.
That makes it one of the biggest crypto gainers today, with its market cap last around $1.5 million.
It also has locked liquidity of around $180,000 and over 1,300 holders, according to DEXTools.
DEXTools identifies four concerning aspects to its smart contract, however, so investors should be cautious.
Pandora (PANDORA)
Experimental mixed ERC20/ERC721 token Pandora (PANDORA) rallied another 90% on Tuesday, making it one of the biggest crypto gainers today.
As per Uniswap, the token has a TVL of nearly $12 million and 24-hour trade volumes of $54.6 million.
The token’s market cap, meanwhile, was last around $60 million.
But investors should be very cautious as DEXTools smart contract audit reveals some potentially very concerning aspects to the token’s smart contract.
For example, it isn’t fully agreed yet amongst code auditors that Pandora isn’t a honeypot scam.
The token also has three other alerts.
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 in Presale
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.
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