SNX, FIL, MKR, RNDR, STX – Find out more here
The cryptocurrency market has risen by 7.5% in the last 24 hours, and its total cap reached $1.05 trillion after what had been a difficult weekend.
In fact, the market’s value had plunged to as low as $966 billion on Saturday, following the news of the collapse of Silicon Valley Bank.
While the similar collapse of Signature Bank (and not to mention Silvergate Bank) has potentially now made it harder for cryptocurrency firms to bank, the intervention of US regulators has stabilized the market, helping it recover from its losses.
And some coins have won more than others, with this article rounding up the 10 biggest crypto winners today.
Synthetix Network (SNX)
SNX has risen by an impressive 30% in the last 24 hours, reaching $2.83.
However, it is still down 8% in a week, although it has risen 18% in the last 30 days.
SNX’s indicators reveal very strong momentum, suggesting today’s rally could continue for some time yet.
Its relative strength index (purple) has jumped from below 40 to above 50 in the past day, while its 30-day moving average (red) has resumed its rise above the 200-day (blue).
Given how strongly it has risen today, there is a good chance that the coin could go back to the seven-day high of $3.24.
Aside from today’s market-wide recovery, SNX is boosted by the ongoing rollout of Synthetix V3, which promises to make the decentralized asset insurance protocol more efficient and interoperable.
Buy SNX now
Conflux (CFX)
CFX is also up 30% in the last 24 hours, but is still down 5% in the last seven days.
That said, at $0.189695, the coin has risen by a whopping 233% in the past month, making it one of the best coins of this period.
The indicators suggest that it may continue the recent rallies, with the RSI starting to rise again after a decline in recent days.
Similarly, its 30-day moving average shows no signs of stopping its steep climb beyond the 200-day, although a correction is likely sooner or later.
CFX is the native token of Conflux, a layer-one network that claims to be China’s only government-sanctioned blockchain.
Conflux has announced a steady stream of new partnerships in recent weeks, helping to expand awareness of the network and increase demand for CFX.
Buy crypto now
Maker (MKR)
At $876.92, MKR is up 26% over the past 24 hours, although last week’s selloff means it’s still down 7.5% over the past seven days.
MKR is also up by 13% in a fortnight and by 23% in the last 30 days, and the coin is also up by 70% since the start of 2023.
The indicators suggest that it still has more room left to rise, with the RSI jumping up to almost 60 from 40 a few days ago.
At the same time, its 30-day moving average passed its 200-day in early March and looks like it may continue to rise higher, along with MKR’s price.
A major resistance level for MKR currently lies somewhere around $910 or $920, so if it can break through this level convincingly, the rally could continue for a while yet.
MKR is the governing token of MakerDAO, which oversees the Dai algorithmic stablecoin.
It’s worth pointing out that Dai has been affected by concerns surrounding fellow stablecoin USDC, which Dai uses as collateral.
Buy Maker now
Optimism (OP)
OP has risen by 23% in the last 24 hours, with the current price of $2.31 also representing a 5% drop in one week.
OP has also fallen by 23% in a fortnight and by 4% in the last 30 days, although the coin is up 151% since the start of the year.
The main reason OP has done well this year is because Coinbase announced its own layer-two network, Base, last month, with this network using Optimism’s development stack.
In fact, Coinbase will be joining the Optimism ecosystem as its second core developer, creating the sense that Optimism itself could witness very significant growth this year.
Buy crypto now
Stacks (STX)
STX is up 22% in the last 24 hours, with the coin down 3% in a week, but up a whopping 151% in the last 30 days.
STX’s indicators suggest the possibility of further gains in the near term, although the coin is approaching overbought.
Its RSI has shot up to nearly 60 in recent hours, revealing increasing buying momentum.
Much the same applies to the 30-day average, which shows no sign of ending its steep climb.
As a side network for Bitcoin, Stacks has benefited greatly from growing interest recently in Bitcoin-based NFTs, known as Ordinals.
Buy crypto now
Render (RNDR)
RNDR is up 19.5% in the last 24 hours, to $1.18.
This represents a loss of 1.4% in one week and a drop of 20% in the last 30 days, even though the decentralized data coin has increased by almost 200% since the start of 2023.
With the RSI recently falling to near 30 (indicating oversold), there is a good chance that RNDR’s rally today could continue a bit longer before running out of steam.
Buy crypto now
Filecoin (FILE)
At $5.80, FIL is up 18% in the last 24 hours, despite being down 5% in the last week.
However, FIL is still up 19% over the past 30 days, and with the coin’s price yet to rise above its 30-day moving average, there is still plenty of scope for it to continue to rise before becoming overbought.
Buy Filecoin now
Lido DAO (LDO)
LDO is up 17.5% in the last 24 hours, and the $2.48 price also represents a 160% year-to-date gain.
The original symbol of the Lido Finance betting platform, LDO’s RSI has started to recover after being in an oversold position, meaning it has the potential to continue rallying today.
Buy crypto now
The Graph (GRT)
At $0.132583, GRT is up 17% in the last 24 hours, although it is still down 6% in a week and 20% in the last month.
Graph is a decentralized network for indexing and accessing public blockchain data, and has seen increasing use this year, with its customers including Messari, Lido Finance and Sushi (formerly SushiSwap).
Buy The Graph now
ImmutableX (IMX)
At $0.912447, IMX has gained 15% in one day, while it has decreased by 13% in the past week, as well as by 5% in the past 30 days.
With the price still below its 30-day moving average, there is a very real chance that IMX’s rally today could continue for at least a few more days before running out of momentum.
Buy ImmutableX now
