SNX, FIL, MKR, RNDR, STX – Learn more here

After a rough weekend, the cryptocurrency market is up 7.5 percent in the past 24 hours, bringing its total market capitalization to $1.05 trillion.

In fact, the market cap plummeted to $966 billion on Saturday following news of the Silicon Valley bank’s collapse.

While a similar collapse at Signature Bank (not to mention Silvergate Bank) may now make it harder for crypto firms to bank, the intervention of U.S. regulators has stabilized the market, helping it recover from losses.

Some coins have risen more than others, and this article compiles the top 10 biggest cryptocurrency gainers today.

Synthetic Network (SNX)

SNX is up an impressive 30% in the past 24 hours to $2.83.

However, even though it has gained 18% over the past 30 days, it is still down 8% on the week.

Source: TradingView

Indicators for SNX are showing some very strong momentum, suggesting that its rally today could continue for a while.

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 further gains above its 200-day (blue).

Given how strong its gains are today, there’s a good chance the coin will return to its 7-day high of $3.24.

In addition to today’s recovery across the market, SNX is being driven by the continued rollout of Synthetix V3, which promises to make decentralized asset insurance protocols more efficient and interoperable.

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Convergence (CFX)

CFX is also up 30% in the past 24 hours, but is still down 5% in the past 7 days.

Source: TradingView

That said, the token is priced at $0.189695 and has surged a massive 233% over the past month, making it one of the best performing tokens over the period.

Its indicators suggest that it may extend its recent gains, with its RSI starting to rise again after falling in the past few days.

Likewise, its 30-day moving average shows no signs of halting its sharp rise beyond the 200-day, even though a correction may be on the cards sooner or later.

CFX is the native token of Conflux, a layer-1 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 expand the visibility of its network and increasing demand for CFX.

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Maker (MKR)

At $876.92, MKR is up 26% over the past 24 hours, although last week’s sell-off meant it was still down 7.5% over the past seven days.

Source: TradingView

MKR is also up 13% in two weeks, 23% in the past 30 days, and the token is also up 70% since the beginning of 2023.

Its indicators suggest it has more upside, with its RSI jumping to nearly 60 from 40 a few days ago.

Meanwhile, its 30-day moving average crossed its 200-day moving average in early March, and it looks like it could continue to move higher with the price of MKR.

Major resistance levels for MKR are currently around $910 or $920, so if it can break this level convincingly, its rally could continue for a while.

MKR is the governance token of MakerDAO, which oversees the Dai algorithmic stablecoin.

It’s worth pointing out that Dai is affected by concerns surrounding the stablecoin USDC, which Dai uses as collateral.

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Optimism (OP)

OP is up 23% in the past 24 hours and its current price is $2.31, also down 5% in a week.

Source: TradingView

OP is also down 23% in two weeks and 4% in the past 30 days, even though the token is up 151% since the start of the year.

The OP’s main reason for doing well this year is that Coinbase last month announced its own layer 2 network, Base, which uses Optimism’s development stack.

The fact that Coinbase will be joining the Optimism ecosystem as its second core developer creates the feeling that Optimism itself could witness some pretty significant growth this year.

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stack (STX)

STX is up 22% in the past 24 hours, down 3% in the week, but up 151% in the past 30 days.

Source: TradingView

Indicators for STX suggest that further gains are possible in the short-term, even as the coin is getting closer to being overbought.

Its RSI has surged to nearly 60 in the past few hours, indicating that buying momentum is building.

The same goes for its 30-day moving average, which shows no sign of an end to its sharp rise.

As a side network to Bitcoin, Stacks benefits from the recent growing interest in Bitcoin-based NFTs, known as Ordinals.

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Rendering (RNDR)

RNDR is up 19.5% in the past 24 hours to $1.18.

This represents a 1.4% drop for the week and a 20% drop over the past 30 days, even though the decentralized computing token is up nearly 200% since the start of 2023.

Source: TradingView

With its RSI recently dipping close to 30 (indicating oversold), there is a good chance that RNDR’s rally today will last for a while before it loses momentum.

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Filecoin (FIL)

Despite falling 5% over the past week, FIL is up 18% over the past 24 hours at $5.80.

Source: TradingView

However, FIL is still up 19% in the past 30 days, and since the token’s price has yet to rise above its 30-day average, there is still plenty of room for continued gains before it becomes overbought.

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Lido Island(LDO)

LDO is up 17.5% in the past 24 hours, and its price of $2.48 is also up 160% from the beginning of the year.

Source: TradingView

The RSI of LDO, the native token of staking platform Lido Finance, started to recover after being in an oversold position, which means that it is likely to continue to rise today.

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Figure (GRT)

GRT is at $0.132583, up 17% in the past 24 hours, though it is still down 6% in the week and 20% in the past month.

Source: TradingView

As a decentralized network for indexing and accessing data on public blockchains, Graph has seen increased usage this year, with clients including Messari, Lido Finance and Sushi (formerly SushiSwap).

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ImmutableX (IMX)

IMX is trading at $0.912447, up 15% in one day, after falling 13% last week and down 5% over the past 30 days.

Source: TradingView

With its price still below its 30-day moving average, there’s a good chance that IMX’s rally today will last at least a few more days before it runs out of steam.

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Source of information: Compiled from CRYPTONEWS by 0x Information.Copyright belongs to the author, without permission, may not be reproduced

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