Injective and Immutable emerge as leading gainers in the cryptocurrency market.
According to data from CoinMarketCap, the leading website for tracking cryptoasset prices, Injective, Immutable, and Synthetix have emerged as the top gainers in the past 24 hours, with gains of up to 22%. This news comes amidst speculation of an upcoming altcoin season.
Injective (INJ) currently has a live price of $22.94, showing a 22.19% increase in the last day. The Injective Protocol token has experienced a staggering surge of nearly 2,000% from its year-to-date low. This impressive growth can be attributed to its primary decentralized exchange (DEX), Helix, which has greatly expanded its market share in recent months. Additionally, the network is preparing to introduce the Volan upgrade soon.
Following Injective, Immutable (IMX) sits at a live price of $2.02, with an 11.72% increase in the last 24 hours. The IMX token has risen to the 29th position in CoinMarketCap’s ranking. This surge is a response to VanEck’s assertion that the release of new blockchain-based video games, such as Illuvium in the coming year, could potentially boost the value of the IMX token.
Among the top three gainers, Synthetix (SNX) is priced at $4.57, showing a 7.94% increase in the past day. Synthetix has experienced significant gains since the end of November, with notable developments including the upcoming launch of Perps V3 on the Synthetix Network. This upgrade is expected to introduce new features like multi-collateral, cross-margin, account-based access, and liquidation upgrades.
These numbers on December 11 align with the substantial momentum observed in the cryptocurrency space since October, leading to speculation within the community about the potential arrival of an altcoin season. The increasing number of ongoing altcoin price rallies, along with a noticeable shift in investor sentiment and a growing appetite for altcoins, further supports this speculation.
