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Crypto prices may be primed for a strong bullish breakout following eased trade tensions between the U.S. and China and lower-than-expected U.S. consumer inflation in May. These developments could drive renewed interest in risky assets, including cryptocurrencies. Furthermore, the softer inflation data signals a potential for earlier interest rate cuts by the Federal Reserve, which could further stimulate the market.

Top Cryptocurrencies to Watch After U.S.-China Trade Truce

Investors looking to capitalize on this bullish sentiment should consider cryptocurrencies with strong fundamentals and technical indicators. Currently, some of the most promising options include Maple Finance (SYRUP), Solana (SOL), and Binance Coin (BNB).

1. Maple Finance (SYRUP)

Maple Finance is gaining traction as one of the fastest-growing blockchain projects in 2023. The platform operates as an asset manager, utilizing blockchain technology to raise capital and provide institutional credit. With its innovative approach, Maple has become a standout in the decentralized finance (DeFi) space.

  • Recently, Maple crossed $2.2 billion in assets under management.
  • Monthly protocol revenue hit a record $1.06 million.
  • Over 444.1 million SYRUP tokens are currently staked, offering an attractive staking APY of 2.8%.

SYRUP has seen a substantial price rally, surging 510% since its lowest point in April. The token recently broke above key resistance at $0.4700, invalidating a double-top pattern. While a short-term pullback to retest the $0.4700 support level is likely, the long-term trend remains bullish.

2. Solana (SOL)

Solana continues to be a top choice for investors due to its robust fundamentals and technical outlook, which suggest a potential move toward the $500 mark.

  • Solana remains the most active blockchain, processing over 474 million transactions in the past week alone.
  • Daily active transactions surpassed 32 million during the same period.
  • It is the leading blockchain for meme coins, with a combined market cap of over $11 billion for tokens in its ecosystem.
  • Solana’s decentralized exchange (DEX) protocols, such as Raydium and Orca, are highly popular, contributing to rising network fees.

From a technical perspective, Solana’s weekly chart has formed a cup-and-handle pattern. The depth of the cup suggests a potential price target of over $500, making it an attractive investment opportunity.

3. Binance Coin (BNB)

Binance Coin is another standout cryptocurrency, buoyed by its strong performance and growing ecosystem. As the native token of Binance, the world’s largest cryptocurrency exchange, BNB offers significant utility and growth potential.

  • BNB has seen a rise in active transactions and wallet addresses in recent months.
  • It dominates the decentralized exchange space, facilitating over $140 billion in transactions in the last 30 days.
  • The token has a highly deflationary mechanism, burning over $1 billion worth of tokens each quarter to reduce its supply from 144 million to 100 million.

Technically, BNB has formed a cup-and-handle pattern, suggesting a potential price target of $1,141. This makes it a compelling option for investors seeking long-term growth.

As the cryptocurrency market responds to shifting macroeconomic trends, assets like Maple Finance, Solana, and Binance Coin showcase the potential for significant gains. Keep an eye on these tokens as they continue to demonstrate strong performance and investor interest.

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