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- Immutable (IMX) rose by 33% to $0.7201, accompanied by an impressive 2302% surge in trading volume.
- Maker (MKR) achieved 16-month peaks exceeding $1,360, surpassing the overall crypto market with a 152% gain this year.
Amid a week characterized by a modest rebound in the global cryptocurrency market, investors are exploring alternatives to Bitcoin, as numerous top 50 cryptocurrencies are exhibiting substantial increases. Below are the top 3 cryptocurrencies that are gaining traction and enjoying robust community backing.
Immutable (IMX)
Immutable (IMX) has taken the lead in daily price increases, climbing by 33% to attain a trading value of $0.7201. This notable price rise marks a significant achievement for Immutable, a mid-cap coin that had previously been trading below the $0.550 threshold.
Immutable (IMX) Price Chart (Source: CoinMarketCap)
The precise reason behind Immutable’s price surge remains uncertain, as the core team has not announced any significant upgrades or partnerships. However, Immutable has been actively launching initiatives within its ecosystem to engage the community. The rollout of its zkEVM protocol on testnet in August and ongoing efforts to enhance game development are contributing to its rising popularity.
Additionally, a surge in new wallets and positive sentiment from large investors have propelled Immutable’s daily trading volume to increase by over 2302%, reaching $328 million at the time of this report.
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Astar Network (ASTR)
Astar Network (ASTR), a leading parachain on the Polkadot blockchain, is spearheading the market’s recovery with a price increase of over 6.2%. Currently priced at $0.05781, this rise is bolstered by a 365% growth in trading volume over the last 24 hours, amounting to $34 million.
Astar Network (ASTR) Price Chart (Source: CoinMarketCap)
The positive trend observed in the Astar Network is supported by significant advancements within its ecosystem. A noteworthy partnership established with Sony in September is yielding favorable outcomes, with an increasing number of participants joining its incubation program.
The future expansion of Astar Network is closely linked to its recently unveiled Astar 2.0 vision, which outlines the next stage of the protocol’s evolution.
Maker (MKR)
Maker (MKR) is attracting attention as on-chain data indicates heightened interest from large investors and new wallets. MKR has demonstrated considerable strength, increasing by approximately 120% from its lows in June 2023 ($613) to its current price above $1,335. It has also reached 16-month highs, last seen in May 2022.
Maker (MKR) Price Chart (Source: CoinMarketCap)
Currently, MKR has increased by 5% in the last 24 hours and 16% over the past week, elevating its market capitalization above $1.28 billion and boosting its trading volume by 30% to $107 million. Notably, MKR has outperformed the wider cryptocurrency market this year, achieving a 159% return, compared to Bitcoin’s 64% rise during the same timeframe.
