- The Connext Network coin has increased in value by 93.5% in the last 30 days.
- The NEXT crypto’s circulating supply is less than 11% of its total supply.
Connext Network (NEXT) is a non-custodial layer-2 payment-channel technology enhancing Ethereum scalability. It enables off-chain, instant payments with low fees, leveraging state channels. NEXT facilitates seamless cross-chain transactions and offers an SDK for dApp integration.
The market cap of the Connext Network has advanced by 6.5% in the last 24 hours, resulting in $35.44M. It has resulted in a market cap ranking of #2464. The traded volume for the crypto has also witnessed an advance of 40.09%.
The following advance in the volume indicates the gain of interest of investors in the crypto. Also, the traded volume ranking of the crypto is #733, and the crypto’s volume/market cap ratio is 4.66%. The ratio for the volume is relatively low, indicating less liquidity in the crypto.
The self-reporting circulating supply of the Connext Network is 107M NEXT, and the total supply of the crypto is 1.0B NEXT. Also, the maximum supply of the crypto is the same as the total supply.
The fully diluted market cap of the crypto is $342.18M, and the market cap dominance of the crypto is relatively very low. Also, this cryptocurrency’s volatility is high at 13.75%.
The sentiment of the Connext Network is bullish, as per Coincodex, and it also has a total value locked at $34.3M. Also, the liquidity of the crypto is $3.04M, and the total amount raised by the crypto is worth $22.58M.
NEXT Crypto Technical Analysis
The NEXT crypto price is forming a strong higher high structure on the weekly chart and has advanced by 6.7% in the last 24 hours.
If we look further into the market structure, it forms bullish candlesticks on the chart, representing the strong dominance of buyers in the market.
NEXT/USD Chart by TradingView
The EMAs on the daily chart of the NEXT crypto are strongly bullish, and the price of the crypto is also trading above the crucial EMAs, such as the 50-day and the 200-day EMA. The price is taking support at the 20-day and the 50-day EMA, leading towards a higher level.
The MACD and the signal line overlap, indicating uncertainty and trading above the zero level. The following behavior of the MACD indicator shows buying sentiment in the larger time frame.
The RSI is following a bullish cycle on the daily chart and has advanced above the 14-day SMA. The RSI is trading at 62.59 and consistently sustaining above the 50 level.
Summary
The Connext Network (NEXT) crypto’s value surged by 93.5% in 30 days, with less than 11% of its total supply in circulation. A solid bullish sentiment prevails, supported by technical analysis, forming consistent higher highs and bullish candlesticks. Thus, the NEXT crypto shows potential for further upward movement.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.