{"id":480172,"date":"2024-02-12T16:57:22","date_gmt":"2024-02-12T16:57:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=480172"},"modified":"2024-02-12T16:57:22","modified_gmt":"2024-02-12T16:57:22","slug":"next-cryptocurrency-to-explode-monday-february-12-synthetix-axie-infinity-multiversx","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/next-cryptocurrency-to-explode-monday-february-12-synthetix-axie-infinity-multiversx","title":{"rendered":"Next Cryptocurrency to Explode Monday, February 12 – Synthetix, Axie Infinity, MultiversX"},"content":{"rendered":"

Today, we’re focusing on tokens making waves in the crypto market, like Synthetix, Axie Infinity, and MultiversX. This review will explore what sets them up as potential candidates for significant growth in the market. Additionally, Meme Kombat is gaining traction during its presale, raising over $7 million as investors closely monitor its progress.<\/p>\n

Next Cryptocurrency to Explode<\/b><\/h2>\n

Synthetix has recently experienced a bullish breakout, surpassing its resistance level and increasing by almost 5%. On the other hand, the AXS cryptocurrency is showing clear signs of bearishness, with a downward trend below crucial support levels.<\/p>\n

In addition, MultiversX has announced a distribution of 1,000,000 ITHEUM tokens to ecosystem builders. At the same time, Meme Kombat has allocated 50% of its total token supply for the MK presale, aiming for inclusivity among all participants.<\/p>\n

1. Synthetix (SNX)<\/b><\/h3>\n

Synthetix has recently broken out bullishly, surpassing its resistance level and rising by nearly 5%. With the current price at $3.48, the market has positive sentiment, indicating potential upward movement soon.<\/p>\n

In a recent tweet, the token announced that Synthetix Perpetuals, which utilize Pyth Network’s oracles, have surpassed $40 billion in trading volume. Lower fees and enhancements to the on-chain Perpetuals protocol supported this achievement.<\/p>\n

\"SNX<\/p>\n

Synthetix’s price chart today is going up, hitting $3.48, higher than expected. This rise is because many people are optimistic about it, as shown by the RSI value of 57.77, which means the market sentiment is balanced.<\/p>\n

Furthermore, the Bollinger Bands support level at $3.48 suggests a level of price support where buying interest may strengthen, preventing further price decline. Conversely, the resistance level at $2.97 indicates a point where selling pressure might increase, potentially hindering price growth.<\/p>\n

\n

Synthetix Perps, leveraging @PythNetwork<\/a>'s oracles, have surpassed $40B in trading volume, thanks to lower fees and an enhanced onchain Perps protocol.<\/p>\n

We're proud to be early users of Pyth Oracles and recipients of the Pyth Retrospective Airdrop.
👇https:\/\/t.co\/SMFsrvCUXv<\/a><\/p>\n

1\/4 pic.twitter.com\/htYOZliwJh<\/a><\/p>\n

— Synthetix ⚔️ (@synthetix_io) February 7, 2024<\/a><\/p><\/blockquote>\n