Uniswap logo
The latest Bitcoin (BTC) surge is keeping investors at the edge of their seats, with the BTC price reaching $44,000 before settling in the upper $43,000s, marking an impressive 15% gain since last Friday.
Investors are eagerly waiting for the approval of spot Bitcoin ETFs in the US, which is expected to drive substantial institutional demand. Additionally, bets are being placed on a more dovish Fed policy in the coming months, with potential rate cuts in early 2024.
With Bitcoin surpassing resistance levels and aiming for a quick test of the 2022 highs at $48,000, the bullish sentiment is palpable.
While Bitcoin dominates the market, other major altcoins like Ether (ETH), Cardano (ADA), and Dogecoin (DOGE) are making their moves with 2-4% gains in the past 24 hours. However, XRP (XRP), Solana (SOL), and BNB (BNB) are experiencing a slight dip.
Dogecoin received a significant boost from Elon Musk’s X.AI Corp’s announcement of raising $1 billion in equity, sparking speculation about its potential integration into Musk’s future business plans.
Although Bitcoin remains stable and promising, traders seeking rapid gains continue to explore the high-risk, high-reward market of illiquid and volatile meme coins, known as “shitcoins.”
Here’s a look at some of the biggest gainers on the Uniswap decentralized exchange (DEX) on Tuesday.
Ordinal Doge ($ODOGE)
The low cap token Ordinal Doge ($ODOGE) recently spiked over 300% in the past 24 hours, making it one of the top-performing coins, with trading volumes surging to over $850,000.
While the sudden spike is impressive, investors should remain cautious due to the coin’s small market cap, low liquidity, and smart-contract alerts identified by DEXTools’ security audit.
ordinex ($ORD)
ordinex ($ORD), which powers a platform for trading Bitcoin-based NFTs, has observed an astounding 200% surge in the past 24 hours, with a market cap of approximately $6 million and $1.5 million in trading volumes in the same period.