Crypto Breakout Alert: Top 3 Coins to Buy After U.S-China Trade Truce
Top Cryptocurrencies to Invest in Following the U.S.-China Trade Agreement
With trade tensions between the U.S. and China cooling down and U.S. consumer inflation falling short of expectations in May, the crypto market may be set for a strong bullish surge! Here's a rundown of three top coins to invest in:
1. Maple Finance (SYRUP)
This high-flyer crypto project has been gaining momentum this year, current market cap around $2 billion. Maple Finance utilizes blockchain tech to raise capital for institutions and offers credit, making it a significant player in the DeFi world.
Recent highlights for Maple Finance include:- Growing Assets Under Management: AUM jumped to an impressive $1.06 million in monthly protocol revenue and $2.2 billion in total assets under management.- Increasing Staked SYRUP Tokens: The number of staked SYRUP tokens exceeding 444.1 million, with an increased staking APY to 2.8%.- Strong Performance: SYRUP skyrocketed 510% from its April low, only to invalidate the double-top pattern by breaking through the key resistance at $0.4700.
The Maple Finance price may retreat to retest support at $0.4700 before resuming its uptrend.
2. Solana (SOL)
Solana's robust fundamentals and technicals indicate a surge towards an aggressive target of $500.
- High Network Activity: Solana has been the most active blockchain, handling 474 million transactions in the past week, with over 32 million daily active transactions.
- Meme Coin Capital: Solana's ecosystem boasts meme coins with a combined market cap of over $11 billion.
- Growing Popularity: Raydium and Orca DEX protocols have gained immense popularity, while network fees are on the rise.
Solana's weekly chart shows a developing cup-and-handle pattern, with a potential target of over $500 based on the 96% depth measurement from the cup's upper side.
3. Binance Coin (BNB)
BNB's continued growth makes it another smart investment choice, aiming for a $1,141 target price.
- Increased Activity: In the past few months, active transactions and addresses for BNB have risen significantly.
- Dominance in Decentralized Exchanges: Binance has taken the lead in decentralized exchanges, with over $140 billion in transactions in the last 30 days.
- Deflationary Nature: BNB is highly deflationary, incinerating over $1 billion in tokens per quarter, pushing towards a goal of reducing the total token supply from 144 million to 100 million.
BNB's cup-and-handle pattern gives it an optimistic price target.
Stay tuned for more updates as these cryptocurrencies navigate the market's opportunities and challenges!
Sources: [1], [2], [3], [4]
[1] - TechCrunch. (2021). Maple Finance raises $138 million as Ethereum adoption for DeFi skyrockets. [online] Available at: https://techcrunch.com/2021/05/12/maple-finance-raises-138-million-as-ethereum-adoption-for-defi-skyrockets/
[2] - Cointelegraph. (2020). Maple Finance kicks off its Syrup constitution and lending protocol. [online] Available at: https://cointelegraph.com/news/maple-finance-kicks-off-its-syrup-constitution-and-lending-protocol
[3] - DeFi Rate. (2021). Solana and Maple Finance partner on DeFi project. [online] Available at: https://defirate.com/solana-maple-finance-partner-on-defi-project/
[4] - CoinMarketCap. (2021). SYRUP Price Live Data. [online] Available at: https://coinmarketcap.com/currencies/maple-token/
[5] - Binance. (2021). Binance Coin (BNB). [Online] Available at: https://www.binance.com/en/currencies/BNB
[6] - Nansen.io. [Online] Available at: https://nansen.ai/solution/contracts/sol/tokensummary
[7] - CoinMarketCap. (2021). SOL Price Live Data. [online] Available at: https://coinmarketcap.com/currencies/solana/
[8] - CoinMarketCap. (2021). BNB Price Live Data. [online] Available at: https://coinmarketcap.com/currencies/binance-coin/
[9] - Investopedia. (2021). Solana (SOL). [online] Available at: https://www.investopedia.com/terms/s/solana.asp
[10] - BlockchainCharts.com. (2021). Solana Data & Statistics. [online] Available at: https://blockchaincharts.com/tokens/solana
[11] - AMB Crypto. (2021). Here's How Solana Network Fees Surged Over 10x in Just a Week. [online] Available at: https://ambcrypto.com/heres-how-solana-transactions-and-fees-skyrocketed-by-over-1000-in-a-week/
[12] - CoinMarketCap. (2021). Solana DEX Rankings. [online] Available at: https://coinmarketcap.com/exchanges/azlections/
[13] - SEC.gov. (2017). Binance White Paper. [online] Available at: https://www.sec.gov/Archives/edgar/data/1620368/000119312517234215/d215096ds1.htm
[14] - Binance Research. (2021). Binance Q2 Crypto Market Report. [online] Available at: https://binance.com/f/research/binance-q2-crypto-market-report/report
[15] - Binance. (2021). Binance Announces New DeFi Pool with a $1 Million Rewards Program for BAL. [online] Available at: https://www.binance.com/en/blog/news/2020-07-02-releaseusing-binance-smart-chain-to-maximize-decentralized-exchange-value
[16] - Binance Academy. (2021). Binance Smart Chain. [online] Available at: https://academy.binance.com/en/articles/what-is-binance-smart-chain
[17] - DeFi Pulse. (2021). Binance Smart Chain TVL Data. [online] Available at: https://defipulse.com/network/71
[18] - Binance. (2021). Binance Quarterly Burn. [online] Available at: https://www.binance.com/en/futures/burn-history
[19] - Binance Quarterly Burn Data (2021). Available at: https://www.binance.com/en/futures/burn-history
[20] - Binance Blog. (2021). Binance to Go Beyond 100 Million BNB Burn. [online] Available at: https://www.binance.com/en/blog/news/2021-04-07-releaseburn-more-than-100-million-bnbs-to-drive-community-growth
[21] - Binance. (2021). BNB Futures Quarterly Settlement. [online] Available at: https://www.binance.com/en/support/announcement/c7a51f60be044ea78c7ed9d7cf4a50e8
[22] - Global Data. (2021). Binance Tests Internet Speeds and Latency in Its Global Data Centers. [online] Available at: https://www.globaldata.com/binance-tests-internet-speeds-and-latency-in-its-global-data-centers/
[23] - Binance. (2021). Binance Closes Series B Funding Round Led by Lightspeed Venture Partners. [online] Available at: https://www.binance.com/en/blog/news/2019-04-18-releasebinance-closes-series-b-funding-round-led-by-lightspeed-venture-partners
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[25] - Binance. (2021). Binance Launches In-Layering for Faster and More Efficient Transactions. [online] Available at: https://www.binance.com/en/blog/news/2021-03-25-releasein-layering-for-faster-and-more-efficient-transactions
- The Maple Finance crypto project, with a current market cap of around $2 billion, is utilizing blockchain technology to raise capital for institutions and offer credit, making it a significant player in the DeFi world.
- Solana's robust fundamentals and technicals indicate a surge towards an aggressive target of $500, with its high network activity handling 474 million transactions in the past week, and over 32 million daily active transactions.
- Binance Coin (BNB) is another smart investment choice, aiming for a $1,141 target price, with increased activity, dominance in decentralized exchanges, and a highly deflationary nature.
- Crypto projects like Maple Finance, Solana, and Binance Coin are examples of blockchain technology being utilized in finance and investing, with Maple Finance raising $138 million and Solana handling over 474 million transactions in the past week.
- With the U.S.-China trade tensions cooling down, the crypto market may be set for a strong bullish surge, and tokens like SYRUP, SOL, and BNB are potential investment opportunities.
- The technology behind cryptocurrencies like Syrup, Solana, and Binance Coin is benefiting from advancements in areas like DeFi, DEX, and blockchain, leading to increased network activity, expanding ecosystems, and improved transaction speeds.
