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2 cryptocurrencies to reach $1 billion market cap in the first half of 2024
The post 2 cryptocurrencies to reach $1 billion market cap in the first half of 2024 appeared on BitcoinEthereumNews.com. As the first half of 2024 draws near, the cryptocurrency market has seen a significant sell-off, eroding the market capitalization of many assets. However, some cryptocurrencies still show strong potential for growth. Buoyed by strong underlying fundamentals, increasing community interest, and other favorable factors, these select cryptocurrencies could benefit if the market regains its bullish momentum. Finbold has identified two cryptocurrencies likely to attract significant capital inflows in the first half of 2024, propelling them toward the $1 billion market cap mark. Notably, these assets are already nearing this significant milestone. 1. Synthetix (SNX) Synthetix is a decentralized protocol on Ethereum (ETH) for issuing and trading synthetic assets. It addresses liquidity and slippage issues in decentralized exchanges (DEX), supporting synthetic fiat currencies, cryptocurrencies, and commodities. SNX market cap. Source: CoinMarketCap Currently, Synthetix is trading at $2.93 with a market cap of $959,783,821. Given its proximity to the $1 billion mark, it only needs a modest increase in market capitalization to reach this milestone. Recently, Synthetix has seen a massive surge in trading activity, with derivatives trading volume advancing by 208% over the past few days. This increase in trading volume has led to a 17.1% rise in open interest, now totaling $27 million. The price of SNX is trading between the 50-day and 200-day EMAs, indicating uncertainty. However, the MACD line has advanced to a bullish trajectory, and the relative strength index (RSI) has risen above the 50 level, currently at 62.02, signaling bullish momentum. 2. Notcoin (NOT) Notcoin (NOT) was initially introduced as a reward token for a Telegram game designed to onboard users to The Open Network (TON). Its unique application in the gaming world has garnered significant interest, contributing to its growth potential. Currently trading at $0.00949 with a market cap of $957,457,791, Notcoin recently experienced a…
The post 2 cryptocurrencies to reach $1 billion market cap in the first half of 2024 appeared on BitcoinEthereumNews.com.
As the first half of 2024 draws near, the cryptocurrency market has seen a significant sell-off, eroding the market capitalization of many assets. However, some cryptocurrencies still show strong potential for growth. Buoyed by strong underlying fundamentals, increasing community interest, and other favorable factors, these select cryptocurrencies could benefit if the market regains its bullish momentum. Finbold has identified two cryptocurrencies likely to attract significant capital inflows in the first half of 2024, propelling them toward the $1 billion market cap mark. Notably, these assets are already nearing this significant milestone. 1. Synthetix (SNX) Synthetix is a decentralized protocol on Ethereum (ETH) for issuing and trading synthetic assets. It addresses liquidity and slippage issues in decentralized exchanges (DEX), supporting synthetic fiat currencies, cryptocurrencies, and commodities. SNX market cap. Source: CoinMarketCap Currently, Synthetix is trading at $2.93 with a market cap of $959,783,821. Given its proximity to the $1 billion mark, it only needs a modest increase in market capitalization to reach this milestone. Recently, Synthetix has seen a massive surge in trading activity, with derivatives trading volume advancing by 208% over the past few days. This increase in trading volume has led to a 17.1% rise in open interest, now totaling $27 million. The price of SNX is trading between the 50-day and 200-day EMAs, indicating uncertainty. However, the MACD line has advanced to a bullish trajectory, and the relative strength index (RSI) has risen above the 50 level, currently at 62.02, signaling bullish momentum. 2. Notcoin (NOT) Notcoin (NOT) was initially introduced as a reward token for a Telegram game designed to onboard users to The Open Network (TON). Its unique application in the gaming world has garnered significant interest, contributing to its growth potential. Currently trading at $0.00949 with a market cap of $957,457,791, Notcoin recently experienced a…
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