Top Crypto Gainers Today on DEXScreener CLYDE Jud BRUTE

Discover the Hottest Cryptocurrency Performers Today on DEXScreener – CLYDE, Jud, BRUTE


Authored by Hassan Shittu
Updated on:
June 10, 2024 20:00 EDT
|
Reading Time: 3 minutes


Discover the Hottest Cryptocurrency Performers Today on DEXScreener – CLYDE, Jud, BRUTE / Source: Cryptonews
The cryptocurrency market encountered a wave of turbulence on June 11, with Bitcoin (BTC) and various altcoins plunging into correction territory.
BTC
saw a dip to nearly $66,000 as traders awaited the U.S. inflation report and Federal Reserve meeting. Altcoins like
Ethereum’s ether
(ETH),
Solana
(SOL),
dogecoin
(DOGE),
Cardano’s ADA
, and Chainlink’s LINK also experienced losses ranging from 6% to 9%.
This downward trend resulted in over $250 million in liquidations of leveraged derivatives trading positions across crypto assets, marking the second significant flush of leverage within a week.
Investors were seen “de-risking“ from crypto assets in anticipation of the May Consumer Price Index (CPI) report and the Federal Reserve meeting. Analysts highlighted Bitcoin’s responsiveness to economic data, with its 30-day correlation with U.S. equities hitting its highest level since 2022.
The Federal Open Market Committee (
FOMC
) meeting and the release of interest rate forecasts, particularly the “dot plot,“ were seen as major market influencers.
Moreover, disparities in Bitcoin futures open interest across various exchanges hinted at strategic moves by major players, possibly indicating accumulation strategies amidst retail sell-offs. Some analysts viewed the market downturn as an opportunity to acquire coins.
The reversal of the GameStop (GME) stock rally also impacted sentiment within the cryptocurrency sector. The decline in GME stock prices led to losses in related meme tokens, showcasing the interconnectedness between traditional stocks and specific cryptocurrencies.
Additionally, Bitcoin’s decline was linked to a robust May employment report from the U.S., strengthening the U.S. dollar and leading to rising Treasury yields. This, in turn, influenced Bitcoin’s valuation and raised concerns about potential further sell-offs.
Despite the sell-off, some market observers identified positive signals pointing to a potential swift recovery.
Top Crypto Performers Today
CLYDE (CLYDE)
A newly emerged token, CLYDE, leads the pack today. CLYDE features a Pacman-like game where players can engage in tournaments.
According to data from
DEXScreener
, CLYDE has witnessed an astounding surge, achieving an impressive 15M% gain in just 24 hours.
This surge has propelled its market capitalization to a staggering $235 million at the time of writing.
On June 5, Clyde announced the launch of their new token, $CLYDE, scheduled for June 8. The launch commenced with a market capitalization of $100K.
Post-launch, Clyde encourages users to add $CLYDE to their @Blast_L2 deck for a chance to win the Blast Gold jackpot. Additionally, Blast Gold tournaments will be available for play post-launch.
Investors and traders closely monitor this unprecedented rally, with CLYDE attracting significant attention for being at the top.
jud boolishgam (
Jud)
Another standout performer today is Jud, a token that has surged by over 1M% within 24 hours, as per
DEXScreener
data.
This remarkable spike has driven Jud’s market capitalization to an impressive $58.1 million.
While the value surge garners attention from DEXScreener, it’s important to note that Jude also lacks a community, putting it in a similar category as the previous two tokens. Traders are advised to proceed with caution and conduct thorough research before engaging with these tokens.
Brute the Brett Killer (BRUTE)
BRUTE is another newly introduced token making waves. BRUTE appears to offer traders who missed out on the rise of WIF, Pepe, and Brett an opportunity to participate. Within just 24 hours, BRUTE has surged by an incredible 1M%, surpassing 2,000 holders, according to
DEXScreener
.
This rapid rise has propelled BRUTE’s market capitalization to an impressive $662 million.
Crypto Investment Alternatives to Explore
Altcoins present opportunities for quick gains in the crypto market. However, many established coins may not offer the potential for gains exceeding 10x. For higher returns, investors may need to get in early on newer coins.
Nevertheless, trading newly launched
meme coins
comes with risks. While some may see gains of 100x or more, most will not, and finding liquidity to sell can be challenging. The rapid price movements in the meme coin market often trigger FOMO, causing traders to overlook due diligence.
An alternative approach would be to consider investing in
presales
. This strategy allows traders more time to research projects and assess if they align with their investment objectives. Identifying projects that consistently gain traction can lead to significant gains.
For risk-tolerant investors seeking exposure to potential upside, presale investing could be a promising tactic. Web3 startups often offer their tokens at a discounted rate during presales to raise funds for development and generate hype.
With numerous presales competing for investment capital, it can be challenging to know where to start. Here are some of Cryptonews top picks for 2024.
15 Best Crypto Presales to Invest In Now
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