According to the latest data from CoinMarketCap, the leading price-tracking website for cryptocurrencies, Injective, Immutable, and Synthetix have emerged as the top performers in the past 24 hours, with gains of up to 22%.
This news comes amidst speculation of an upcoming altcoin season in the market. Injective (INJ) has seen a significant surge in price, currently sitting at $22.94 with a 22.19% increase in the last day. The token has experienced a staggering 2,000% increase from its year-to-date low, largely attributed to the success of its decentralized exchange, Helix. The network is also gearing up for the release of the Volan upgrade in the near future.
Immutable (IMX) follows closely behind, with a live price of $2.02 and an 11.72% gain in the last 24 hours. The IMX token has climbed the ranks on CoinMarketCap to 29th place, driven by optimism surrounding the potential value increase from new blockchain-based games like Illuvium set to launch next year.
Lastly, Synthetix (SNX) is currently priced at $4.57, showing a 7.94% increase in the past day. The token has been on a steady rise since the end of November, with the upcoming launch of Perps V3 on the Synthetix Network expected to bring new features like multi-collateral support and liquidation upgrades.
The recent surge in prices on December 11 aligns with the growing momentum in the cryptocurrency space since October, leading to speculation within the community about the start of a possible altcoin season. With ongoing rallies in altcoin prices and a noticeable shift in investor sentiment towards alternative cryptocurrencies, the market is showing a renewed interest in these assets.
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