- LOOM, FRONT and IMX show outstanding performance with growth of 145%, 138% and 29% respectively.
- The growth of the network, evidenced by the creation of new addresses, suggests a possible price increase if this trend continues.
- Despite the gains, these cryptocurrencies have low market capitalization and liquidity, indicating high volatility.
The cryptocurrency market is evolving rapidly, both in terms of prices and acceptance. This can lead to changes Previously unknown projects are increasing rapidly under the right circumstances, to provide financial gains to their holders as demand grows relative to the supply of available tokens.
This phenomenon was recently observed again by cryptocurrency analysts at Santiment’s subscription platform SanBase PRO, according to a post shared on September 22 by its official X account @santimentfeed.
Cryptocurrencies include in particular Loom Network (LOOM), Frontier (FRONT) and ImmutableX (IMX). best performance of the week given the growing demand for new cryptocurrency wallet addresses to be created on the network.
Growth and price analysis
“LOOM (+145%), Frontier (+138%) and ImmutableX (+29%) were performing assets last week. Each of them experienced significant growth in the network (new addresses were created). If this growth continues, prices may continue their rallies.”
Loom Network performed best among the projects analyzed. With a 145% price increase and 304 new addresses were created in the week.
At press time, LOOM is currently trading at $0.10, with a daily gain of 5.36% in the last 24 hours.
Frontier experienced the least network growth among these three cryptocurrencies, recording 43 newly created addresses, which did not stop the FRONT token from being seen massive weekly gains of 138%.
On the other hand, FRONT is trading at $0.36, down a small 1.77% in the last 24 hours from its weekly increase.
Notably, ImmutableX is the digital asset with the highest market cap in this analysis. Register one significant price increase of 29% in the last seven days with 174 new addresses for the network growth metric.
IMX is priced at $0.60 at press time, having lost 6.9% on the day, a price decline that wiped out nearly half of its reported gains.
However, the three cryptocurrencies mentioned are among the most valuable projects on the market due to their comparatively low market capitalization and low liquidity. Which means they are are subject to high volatility and rapid price changes.