As we approach the conclusion of the first half of the year, the economic world remains uncertain. However, there are some projects that have strong foundations, increasing community interest, and other positive factors that could benefit if the market moves upward. As we near the end of the first half of 2024, several cryptocurrencies are rapidly approaching the $1 billion mark. Let’s take a closer look at two of these.
Synthetix (SNX)
Synthetix is a decentralized protocol built on the Ethereum (ETH) blockchain. It tackles liquidity issues in decentralized exchanges (DEX) by supporting synthetic fiat currencies, cryptocurrencies, and commodities. Stay updated with the latest technology news on NEWSLINKER.
As of today, Synthetix is trading at $2.92 and has a market value exceeding $956 million. With Synthetix approaching the $1 billion mark, a small increase is needed.
There has been a significant increase in transactions on the Synthetix platform recently. In the past few days, derivative trading volume has surged by 208%. This rise in trading volume indicates a 17.1% increase in open interest, which currently stands at $27 million.
Notcoin (NOT)
Notcoin (NOT) has gained significant attention in airdrop circles lately. NOT aims to integrate into The Open Network (TON), which has sparked significant interest and contributed to its growth.
At the time of writing, Notcoin is trading at $0.00929 and has a market value exceeding $954 million. Between May 24 and May 28, it experienced a notable 115% increase and faced resistance at the $0.0099 region.
During this period, the RSI remained above the neutral 50 level, indicating an upward trend. Additionally, Fibonacci retracement levels identified $0.0072 and $0.0066 as crucial support levels, with a potential rally towards $0.0112 and $0.0132.
The recent impressive performance and rising market value of Notcoin could indicate that the altcoin will reach $1 billion in the coming days. Key levels to watch include the critical resistance level at $0.010 and support levels at $0.0048 and $0.0051.
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Disclaimer: The information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.
