2 Cryptocurrencies to Reach $2 Billion Market Cap by 2024
Synthetix ($SNX )🎁
Synthetix is a decentralized protocol on Ethereum (ETH) for issuing and trading synthetic assets. It solves liquidity and slippage issues in decentralized exchanges (DEXs) and supports synthetic fiat currencies, cryptocurrencies, and commodities.
Currently, Synthetix is trading at $2.93 with a market cap of $959,783,821. Given that it is close to the $1 billion mark, it only needs a modest increase in market cap to reach this milestone.
Recently, Synthetix has seen a surge in trading activity, with derivatives volumes growing 208% in the past few days. The increase in trading volume has led to a 17.1% increase in open interest, which currently totals $27 million. SNX
The price is trading between the 50-day and 200-day EMAs, indicating uncertainty. However, the MACD line has entered a bullish trajectory and the relative strength index (RSI) has risen above the 50 level and is currently at 62.02, indicating bullish momentum.
Notcoin ($NOT )🎁
Notcoin (NOT) was originally launched as a reward token for Telegram games to attract users to The Open Network (TON). Its unique application in the gaming community has attracted a lot of attention and enhanced its growth potential.
Notcoin is currently trading at $0.00949 with a market cap of $957,457,791 and has recently risen by 115% between May 24 and May 28, with resistance at $0.0099. The RSI remains above the neutral 50 level, indicating bullish momentum. Fibonacci retracement levels show $0.0072 and $0.0066 as important support levels, with a rally to $0.0112 and $0.0132 more likely.
Notcoin’s strong performance and growing market cap suggest it could reach the $1 billion milestone soon. Key levels to watch include $0.010 resistance and $0.0048 and $0.0051 support. Notcoin’s market performance and strategic use in gaming allow it to attract more investment. This could push it past the $1 billion market cap in the first half of 2024.
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