Blue-chip cryptocurrency markets have been hit everywhere on Friday, amid a wave of options expirations on the last trading day of the year for traditional asset markets (cryptocurrency markets never close, so that the last day of operations of the year will be the 31ststreet from December).
bitcoin (BTC) fell just over 1% and was last trading around $42,000 after a record over $11 billion in options were unwound.
The expansion of the crypto derivatives market to new record levels should be seen as a long-term positive sign for the market, as it suggests a growing participation of more sophisticated market participants (many of which will be institutional), validating cryptocurrencies as an asset class. .
Ether (ETH) was last trading around $2,300, up a little over 2% in the last 24 hours according to CoinMarketCapwhile BNB (BNB) was down 5.5% and solarium (SOL) rose just over 7%.
Traders look ahead to key factors in 2024, including possible near-term swings. detect US Bitcoin ETF approvals, Ethereum Dencun Updatehe Bitcoin issuance rate halvesthe perspective of Start of a new cycle of Fed interest rate cutsUS elections and new developments in several major cryptocurrency lawsuits, including US SEC vs Ripple and the US SEC vs. Binance and Coinbase.
While trading in blue-chip markets is likely to remain choppy in the coming days, highly volatile and illiquid small cap shit coin/same corner The market continues to see explosive exponential movements.
These are some of the biggest winners today in decentralized exchange (DEX) protocol DEXTools.
Catcoin ($CAT)
After a quiet first few days after its launch last week, a shitcoin called Catcoin ($CAT) saw a sudden 400% surge, according to DEXTools.
$CAT last had a market capitalization of just over $1.4 million amid $800,000 in 24-hour trading volumes, and the token amassed over 540 holders and $400,000 in unlocked liquidity.
Investors should be cautious, as the unlocked liquidity means the token could end up being a draw.
That said, $CAT has no concerning aspects in its smart contract according to the DEXTools smart contract audit.
PolarSync ($POLAR)
Blockchain data query protocol PolarSync ($POLAR) has seen its native token explode 150% higher in the last 24 hours, making it one of Shitcoin's top performers according to DEXTools.
It last had a market capitalization of around $2.5 million, unlocked liquidity of around $165,000, and over 1,600 holders.
However, the relatively low 24-hour trading volumes of just over $60,000 are a warning sign that the recent bounce lacks conviction and could easily reverse if some large sell orders come in.
WhatBot ($WHAT)
WhatBot ($WHAT), the recently launched native token of a protocol that aims to simplify token creation, marketing, and management, is up an impressive 150% in the last 24 hours according to DEXTools.
The market capitalization of $WHAT last stood at a still modest $180,000, with just over $125,000 in liquidity, 250 holders, and 24-hour trading volumes of around $65,000.
Potential investors should take note of the four issues with the $WHAT smart contract that DEXTools' security audit identified, as well as the sales tax and 3% token tax.
Crypto Alternatives to Consider
Small cap coins can offer huge potential returns, but they also carry great risk.
For those looking for a higher probability of short-term profits, an alternative high-risk, high-reward investment strategy to consider is to get involved in crypto presales.
This is where investors buy tokens of new crypto projects to help fund their development.
These tokens are almost always sold at a low price and there is a long history of pre-sales generating huge exponential profits for 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 pre-sale investment is very good.
The Cryptonews team spends a lot of time reviewing pre-sale projects to help investors.
Here is a list of 15 of what the project considers the best cryptocurrency pre-sales of 2023.
Disclosure: Cryptocurrencies are 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 use affiliate links within our content and receive commissions.
