The top crypto gainers today on DEXScreener are KING, SWAPUZ, MOJO.

crypthub

1/24/2025, 11:47:10 AM

Crypto Market Overview

The cryptocurrency market started the week with a calm atmosphere, major coins reaching multi-week highs while experiencing minor fluctuations. Traders' focus has shifted to exploring promising altcoins in decentralized markets rather than traditional trading. Bitcoin (BTC) traded around $68,000, temporarily retreating due to wallet movement concerns, while Ethereum (ETH) was valued at approximately $3,800.

Market Drivers and Upcoming Events

The market is awaiting the launch of Ethereum exchange-traded funds (ETFs), approved recently. The release of Core PCE inflation data later in the week is expected to significantly impact dynamics, showing a decrease in price pressures from 0.3% to 0.2% in April, potentially signaling an easing of inflation and suggesting upcoming Federal Reserve interest rate adjustments.

Political and Regulatory Environment

The current political landscape and regulatory environment are favorable for cryptocurrencies. Donald Trump's recent statements and the SEC's approval of Ethereum ETFs indicate a shift from anti-crypto sentiment in the US. This positive outlook contributes to market stability.

Volatility and New Tokens

While major coins may revisit their highs, traders seeking faster gains are drawn to more volatile on-chain markets. The launch of numerous new meme coins and speculative tokens daily creates opportunities for significant returns but also poses risks. Many newly launched tokens turn out to be scams or pump-and-dump schemes with little long-term value, emphasizing the need for thorough research and risk management by traders.

Notable Token Examples and Warnings

King of Memes (KING) on Solana experienced a 750% surge in 24 hours, yet concerns remain due to limited liquidity, low trading volume, and lack of community trust. Swapuz (SWAPUZ) and MOJO The Gorilla (MOJO), other meme coins with extreme price increases, raise red flags regarding fraudulent activities. Traders are advised to exercise caution when dealing with newly launched tokens.