Cronos (CRO), Numeraire (NMR), and Hyperliquid (HYPE) made a remarkable impression during Wednesday's trading session, becoming the strongest growing cryptocurrencies, thanks to a series of positive information and a wave of enthusiasm from the market.
Cronos surged to its highest level of the year after news emerged that Trump Media plans to establish a treasury management company based on CRO. Meanwhile, Numeraire exploded strongly with the boost from a $500 million investment from JPMorgan Asset Management. Alongside, Hyperliquid (HYPE) continues to soar, surpassing its previous record high and entering a new price discovery phase.
Cronos hits its yearly peak thanks to Trump Media's plans
On Tuesday, Trump Media Group announced it had signed a partnership agreement with Crypto.com to establish a treasury management company using CRO. According to the plan, the two parties will co-found Trump Media Group CRO Strategy Inc. with a total expected capital of up to $6.42 billion upon launch. The initial investment package includes $1 billion in CRO (equivalent to about 6.3 billion CRO), $200 million in cash, $220 million in warrants, along with an additional credit line of $5 billion from an affiliate company with Yorkville.
This information immediately ignited enthusiasm in the market, pushing CRO to its highest level of the year at $0.21 just on the day of the announcement.
On the daily chart, the upward trend is still maintained as CRO trades around $0.20, up 3.57% on Wednesday morning. If buying pressure continues to be sustained, this coin could extend its increase and aim for the $0.23 mark – the peak from December.
Technical indicators also reinforce the positive outlook: The daily RSI reached 76, exceeding the overbought threshold, reflecting strong upward momentum, while the MACD indicator just formed a bullish cross on Tuesday, signaling a buy and supporting the upward trend.
Numeraire skyrocketed thanks to a $500 million backing from JPMorgan
According to Bloomberg, the AI hedge fund Numerai has just received a commitment of up to $500 million from the asset management division of JPMorgan Chase & Co., expected to be disbursed within the next year. Currently, the company is managing about $450 million.
This information helped the price of NMR increase by more than 100% that day. The daily chart shows that NMR continues to maintain its upward momentum, trading above $17.80, an additional 10% increase by Wednesday noon.
If the upward trend is maintained, NMR could extend its increase to challenge the weekly resistance at $22.29.
The RSI on the daily frame recorded a level of 82, far exceeding the overbought zone, reflecting strong buying pressure from the bulls.
Hyperliquid sets a new historical peak
The price of Hyperliquid found support around the upward trend line (connecting the lows formed since early April) on Thursday, before strongly bouncing 13.88% over three consecutive sessions and closing above the 50-day EMA at $42.44. At the beginning of the week, HYPE recorded a 6.6% correction, returning to test the 50-day EMA, then quickly recovering over 13% just in the next session.
The enthusiasm continued into Wednesday noon, as HYPE surpassed the old historical peak at $49.88, officially entering the price discovery zone. If it maintains momentum, this cryptocurrency could aim to challenge the important psychological level of $60.
Technical indicators are also supporting the upward trend: The daily RSI is maintaining at 61, above the neutral threshold of 50, reflecting dominant buying pressure; meanwhile, the MACD indicator recently formed a bullish cross on Tuesday, further reinforcing the positive outlook.
However, in a correction scenario, the important support zone will be at the 50-day EMA around $42.92.
