This week, the crypto industry experiences lower volumes due to the holiday season. However, key trends continue to develop with notable activities in cryptocurrencies such as Hyperliquid, Horizen, and Immutable X.
Hyperliquid Price Rally Gains Steam
Hyperliquid (HYPE) soared to a record high since its airdrop on November 29, reaching $35.18 by Sunday, a 200% increase from its listing price. This surge is attributed to its growing market share in decentralized perpetual trading, handling a $52 billion perpetual futures volume in the past week.
Horizen Surges to 2022 Highs
Horizen (ZEN) continues its ascent, reaching its highest level since May 2022. The rise is fueled by the launch of the Grayscale Horizen Trust and its listing on the Gains Network platform. Technical indicators suggest further price increases.
Immutable X Price Drops Ahead of Token Unlock
Immutable X (IMX) suffers a notable price reversal, nearing its lowest level since November 21. The network plans to unlock over 24.5 million tokens as part of its tokenomics, potentially driving further price declines ahead of the December 27 unlock event.
Cryptocurrency markets remain volatile with fascinating trends as Hyperliquid, Horizen, and Immutable X attract increasing attention. Keep an eye on market developments to catch important changes early.
