The cryptocurrency market is up 7.5% in the last 24 hours, bringing its total cap to $1.05 trillion after a rough weekend.
In fact, on Saturday the market cap had come down to $966 billion. News of the collapse of Silicon Valley Bank,
While the similar collapse of Signature Bank (and not to mention Silvergate Bank) potentially makes it difficult for cryptocurrency firms to bank now, intervention by US regulators Stabilized the market, which helped it recover from its losses.
And some coins have made more gains than others, this article compiles the top 10 biggest crypto gainers of today.
Synthetix Network (SNX)
SNX has gained an impressive 30% in the last 24 hours to reach $2.83.
However, it remains down 8% in one week, although it has gained 18% in the last 30 days.
SNX’s indicators are showing some very strong momentum, suggesting that its rally could continue for some time today.
Its Relative Strength Index (purple) has moved from below 40 to above 50 in the past one day, while its 30-day moving average (red) has resumed a rise above its 200-day (blue).
Given how strongly it rallied today, there is a good chance that the coin may return to its seven-day high of $3.24.
In addition to today’s market-wide improvements, SNX is being further fueled by the ongoing rollout of Synthetix V3, which promises to make the decentralized asset insurance protocol more efficient and interoperable.
Conflux (CFX)
CFX is also up 30% over the past 24 hours, but remains down 5% over the past seven days.
That said, at $0.189695, the coin has gained a massive 233% in the past month, making it one of the best performing coins during this period.
Its indicators suggest that it could continue its recent rallies, with the RSI starting to rise again after a decline over the past few days.
Likewise, its 30-day moving average shows no signs of stopping its steep climb beyond its 200-day mark, even though a correction is likely sooner or later.
CFX is the native token of Conflux, a layer-one network that claims to be the only government-approved blockchain in China.
Conflux has been announcing a steady stream of new partnerships over the past few weeks, helping to increase awareness of its network and boost demand for CFX.
Manufacturer (MKR)
At $876.92, MKR is up 26% over the past 24 hours, although last week’s selloff means it is still down 7.5% over the past seven days.
MKR is also up 13% in a fortnight and 23% in the last 30 days, with the coin also up 70% since the start of 2023.
Its indicators suggest that it still has room to grow, with its RSI jumping from 40 to nearly 60 a few days ago.
Meanwhile, its 30-day moving average surpassed its 200-day high in early March, and it looks like it could continue higher higher along with MKR price.
A major resistance for MKR is currently near the $910 or $920 level, so if it can break above this level, its rally could continue for some more time.
MKR is the governance token of MakerDAO, which oversees the Dai algorithmic stablecoin.
It is worth pointing out that Dai has been hit by concerns surrounding the companion stablecoin USDC, which Dai uses as collateral.
optimism (op)
OP is up 23% in the last 24 hours, with its current price at $2.31 representing a 5% drop in one week.
OP has also lost 23% in a fortnight and 4% in the last 30 days, although the coin is up 151% since the start of the year.
The main reason OP is doing well this year is because Coinbase announced last month its own layer-two network, Base, with this network using Optimism’s development stack.
In fact, Coinbase will be joining the Optimism ecosystem as its second core developer, which makes sense that Optimism itself could see some pretty significant growth this year.
stack (stx)
STX is up 22% in the last 24 hours, the coin is down 3% in a week, but has gained a whopping 151% in the last 30 days.
STX’s indicators suggest the potential for further gains in the near term, even though the coin is getting close to being overbought.
The RSI has touched near 60 in the past few hours, indicating increasing buying momentum.
Much the same for its 30-day average, which shows no signs of ending its rapid rise.
As a side-network to bitcoin, Stack has benefited massively from the recent growing interest in bitcoin-based NFTs, known as ordinals.
render (rndr)
RNDR has gained 19.5% to $1.18 in the last 24 hours.
This represents a 1.4% loss in one week and a 20% drop in the past 30 days, although the decentralized computing coin is up nearly 200% since the beginning of 2023.
With its RSI recently falling to around 30 (indicating overselling), there is a good chance that RNDR’s rally could continue for a while before running out of steam today.
Filecoin (FIL)
At $5.80, FIL is up 18% over the past 24 hours, after losing 5% over the past week.
However, with FIL still up 19% over the past 30 days, and the coin’s price yet to rise above its 30-day EMA, there is still plenty of room for it to continue rising before becoming overbought.
Lido DAO (LDO)
LDO is up 17.5% in the last 24 hours, with a price of $2.48 representing a gain of 160% since the beginning of the year.
The RSI of LDO, the native token of staking platform Lido Finance, has started to recover after being in the oversold position, which means it has the potential to continue rallying today.
Graph(GRT)
At $0.132583, GRT is up 17% in the past 24 hours, although it is down 6% in a week and 20% in the past month.
A decentralized network for indexing and accessing public blockchain data, Graph has seen increased use this year with its clients including Messari, Lido Finance and Sushi (formerly SushiSwap).
invariant x (imx)
At $0.912447, IMX is up 15% in one day, while it is down 13% over the past week as well as 5% over the past 30 days.
With its price still trading below its 30-day moving average, there is a very real possibility that IMX’s rally may continue for at least a few more days today before the momentum may come to an end.