According to information from data provider Coingecko, TON, the native cryptocurrency of the overlay protocol The Open Network, became one of the best-performing coins of the last 24 hours, with an increase of 17.5%. RNDR, the token of the Decentralized GPU-based rendering solution Render Network, gained 13.2% in value. Bitcoin, on the other hand, reached the level of $ 63,000 with a 6% increase.

The rise in TON appears to be driven by news of the May 16 launch of NOT, the long-awaited native coin of the popular Telegram-based game Notcoin. The NOT token will be created on The Open Network blockchain network.

Leading cryptocurrency exchanges such as Binance, Bybit, OKX and Bitfinex have already decided to support NOT. In fact, Binance announced on Thursday that it will distribute a total of 3 billion NOT tokens to users who stake BNB or FDUSD stablecoins. OKX, on the other hand, will reward TON stakers with NOT tokens in a three-day “jumpstart” campaign starting on May 16. These developments increased the interest in TON and had a positive impact on price movements.

On the other hand, RNDR continues to rise after Nasdaq-listed technology giant Apple briefly mentioned Render-supported 3D design software Octane in its presentation on Tuesday. Following this positive development, the RNDR token price gained more than 20% and increased its monthly gain to over 56%. FxPro senior analyst Alex Kuptsikevich predicted that the professional rendering applications Apple mentioned in its presentation will become even more popular in the future.

Bitcoin entered an upward trend by crossing the downward trend line with the stock market aiming for new records. The increase in the number of US unemployment benefit applications published on Thursday strengthened the possibility of the Fed cutting interest rates this year. This situation had a positive impact on the cryptocurrency market by increasing risk appetite.

However, some analysts have criticized creditors of cryptocurrency exchange Gemini’s Earn program and long-shuttered crypto marketplace Mt. He is concerned that the oversupply resulting from the distribution of coins to Gox could limit Bitcoin’s rise in the near term.

Although the cryptocurrency market is currently in an upward trend in general, experts state that the course of the market is uncertain in the near term. Bitcoin breaking the $64,000 resistance level could instill more confidence in the market. However, analysts are closely watching how the oversupply and potential interest rate cuts by the Fed will affect the market. Whether critical levels will be exceeded in the coming days will play an important role in determining the direction of the cryptocurrency market.