As we approach the conclusion of the first half of the year, there are still uncertainties lingering in the economic realm. However, there are a few projects that stand out due to their solid foundations, growing community interest, and other positive factors, which could potentially benefit if the market moves in an upward direction. As we near the end of the first half of 2024, several cryptocurrencies are inching closer to the $1 billion milestone. Let’s take a closer look at two of these cryptocurrencies.
Synthetix (SNX)
Synthetix is a decentralized protocol that operates on the Ethereum (ETH) blockchain. Its main purpose is to address liquidity issues in decentralized exchanges (DEX) by facilitating the trading of synthetic fiat currencies, cryptocurrencies, and commodities. Stay up to date with the latest technology news on NEWSLINKER.
Currently, Synthetix is trading at $2.92 with a market value that exceeds $956 million. Considering its proximity to the $1 billion mark, a slight increase is all it needs.
Lately, there has been a significant surge in transactions on the Synthetix platform. In the past few days, the trading volume of derivatives has spiked by 208%. This increase in trading volume indicates a 17.1% rise in open interest, which currently stands at $27 million.
Notcoin (NOT)
Notcoin (NOT) has recently gained considerable attention in airdrop circles. It aims to integrate into The Open Network (TON), an innovation that has attracted substantial interest and greatly contributed to its growth.
At the time of writing, Notcoin is being traded at $0.00929, with a market value that surpasses $954 million. Between May 24 and May 28, it experienced a significant surge of 115% and encountered resistance at the $0.0099 level.
During this period, the relative strength index (RSI) remained above the neutral 50 level, indicating an upward trend. Additionally, Fibonacci retracement levels highlighted $0.0072 and $0.0066 as crucial support levels, with a potential rally towards $0.0112 and $0.0132.
The recent impressive performance and the increasing market value of Notcoin suggest that the altcoin might reach the $1 billion mark in the coming days, which could be an encouraging sign for investors. Key levels to keep an eye on include the critical resistance level at $0.010 and the support levels at $0.0048 and $0.0051.
Stay updated with our news on Telegram, Facebook, Twitter, and Coinmarketcap.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.