The cryptocurrency market has risen by 7.5% in the past 24 hours, with its total cap reaching $1.05 trillion after what had been a difficult weekend.
Indeed, the market’s value had plunged to as low as $966 billion on Saturday, following the news of the collapse of Silicon Valley Bank.
While the similar collapse of Signature Bank (and not to mention of Silvergate Bank) has potentially now made it trickier for cryptocurrency firms to bank, the intervention of US regulators has steadied the market, helping it to recover from its losses.
And some coins have gained more than others, with this article compiling the top 10 biggest crypto gainers today.
Synthetix Network (SNX)
SNX is up by an impressive 30% in the past 24 hours, reaching $2.83.
However, it remains down by 8% in a week, although it has risen by 18% in the last 30 days.
SNX’s indicators reveal some very strong momentum, suggesting that its rally today could continue for some time yet.
Its relative strength index (purple) has jumped from under 40 to over 50 in the past day, while its 30-day moving average (red) has resumed rising further above its 200-day (blue).
Given just how strongly it has risen today, there’s a good chance that the coin could return to its seven-day high of $3.24.
Aside from today’s market-wide recovery, SNX is being pushed up by the ongoing rollout of Synthetix V3, which promises to make the decentralized asset insurance protocol more efficient and interoperable.
CFX is also up by 30% in the past 24 hours, but remains down by 5% in the last seven days.
That said, at $0.189695, the coin has rallied by 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 its RSI beginning to rise again after declining in the past few days.
Likewise, its 30-day moving average shows no sign of stopping its steep ascent beyond its 200-day, even if a correction is likely to happen sooner or later.
CFX is the native token of Conflux, a layer-one network that claims to be China’s only government-approved blockchain.
Conflux has been announcing a steady stream of new partnerships in the past few weeks, helping to expand awareness of its network and boost demand for CFX.
At $876.92, MKR is up by 26% in the past 24 hours, although last week’s selloff means it’s still down by 7.5% in the last seven days.
MKR is also up by 13% in a fortnight and by 23% in the last 30 days, with the coin also having gained by 70% since the start of 2023.
Its indicators suggest that it still has more space left to rise, with its RSI jumping up to nearly 60 from 40 a few days ago.
At the same time, its 30-day moving average overtook its 200-day at the start of March, and looks like it could continue rising higher, along with MKR’s price.
A big resistance level for MKR at the moment lies somewhere around $910 or $920, so if it can convincingly break through this level, its rally may continue for a while yet.
MKR is the governance token of MakerDAO, which oversees the Dai algorithmic stablecoin.
It’s worth poining out that Dai has been affected by concerns surrounding fellow stablecoin USDC, which Dai uses as collateral.
OP has risen by 23% in the past 24 hours, with its current price of $2.31 also representing a 5% drop in a week.
OP has also declined by 23% in a fortnight and by 4% in the last 30 days, although the coin is up by 151% since the start of the year.
The main reason why OP has been doing well this year is because Coinbase announced its own layer-two network, Base, last month, with this network using Optimism’s development stack.
In fact, Coinbase will be joining the Optimism ecosystem as its second core developer, creating the sense that Optimism itself could witness some very significant growth this year.
STX has gained by 22% in the past 24 hours, with the coin down by 3% in a week but up by a whopping of 151% in the last 30 days.
STX’s indicators suggest the possibility of further gains in the short-term, even if the coin is getting closer to being overbought.
Its RSI has shot up to nearly 60 in the past few hours, revealing growing buying momentum.
Much the same goes for its 30-day average, which shows no signs of ending its steep rise.
As a side-network for Bitcoin, Stacks has benefitted massively from growing interest lately in Bitcoin-based NFTs, knowm as Ordinals.
RNDR is up by 19.5% in the past 24 hours, at $1.18.
This represents a 1.4% loss in a week and a 20% fall in the last 30 days, although the decentralized computing coin is up by nearly 200% since the start of 2023.
With its RSI having recently fallen to nearly 30 (indicating overselling), there’s a good chance RNDR’s rally today could continue for a little longer before running out of steam.
At $5.80, FIL has risen by 18% in the past 24 hours, despite being down by 5% in the past week.
However, FIL is still up by 19% in the last 30 days, and with the coin’s price yet to rise above its 30-day average, there’s still plenty of scope for it to continue to rise before becoming overbought.
Lido DAO (LDO)
LDO is up by 17.5% in the past 24 hours, with its price of $2.48 also representing a gain of 160% since the beginning of the year.
The native token of staking platform Lido Finance, LDO’s RSI has begun recovering after being in an oversold position, meaning that it has the potential to continue rallying today.
The Graph (GRT)
At $0.132583, GRT has risen by 17% in the last 24 hours, although it remains down by 6% in a week and by 20% in the past month.
A decentralized network for indexing and accessing public blockchain data, the Graph has witnessed growing usage this year, with its clients including Messari, Lido Finance and Sushi (formerly SushiSwap).
At $0.912447, IMX has gained by 15% in a day, while it’s down by 13% in the last week, as well as by 5% in the last 30 days.
With its price still below its 30-day moving average, there’s a very real chance that IMX’s rally today may continue for at least a few more days before running out of momentum.