Amidst a down market, IMX, ASTR, and MKR surge significantly

• Immutable (IMX) saw a 33% daily price increase, reaching $0.7201.
• Astar Network (ASTR) experienced a 6.2% price increase, trading at $0.05781.
• Maker (MKR) surged 120% from its June 2023 low, exceeding $1,335.

During a week characterized by a minor rebound in the worldwide cryptocurrency market, investors are exploring alternatives to Bitcoin . This is because many of the top 50 cryptocurrencies show substantial surges. The following are the top 3 cryptocurrencies that are gaining traction and have robust community backing.

Immutable (IMX)

Immutable has seen the highest daily price increase, with a surge of 33% to achieve a trading price of $0.7201. This significant price rise represents a noteworthy achievement for Immutable, a mid-cap coin that has consistently traded below the $0.550 price range.

The precise trigger for Immutable’s rise is still a matter of conjecture, given that the main team has yet to declare any significant enhancements or collaborations. However, Immutable has consistently rolled out ecosystem projects to stimulate community engagement. The launch of its zkEVM protocol on testnet in August and its ongoing endeavors to simplify game development are factors adding to its increasing attractiveness.

Additionally, the surge in new wallet registrations and positive outlook from large investors have escalated Immutable’s daily trading volume by more than 2302%, hitting $328 million at the current reporting time.

Astar Network (ASTR)

Astar Network , a trailblazing parachain on the Polkadot blockchain, spearheads the market’s rebound with a price increase exceeding 6.2%. It is currently being traded at $0.05781, a growth bolstered by a 365% rise in trading volume in the last 24 hours, amounting to $34 million.

Significant advancements in its ecosystem support the upward trajectory observed in the Astar Network. Importantly, a collaboration established with Sony in September produces encouraging outcomes, as evidenced by increasing registrations for its incubation program.

The forthcoming expansion of Astar Network is intimately linked to its recently revealed Astar 2.0 vision, which delineates the subsequent stage of the protocol’s evolution.

Maker (MKR)

Maker is garnering interest due to on-chain data indicating heightened activity from large investors and new wallet holders. MKR has demonstrated considerable resilience, experiencing a surge of roughly 120% from its June 2023 low point of $613 to its present value exceeding $1,335. It has also achieved a 16-month peak, a level that has yet to be seen since May 2022.

MKR has seen a 5% increase in the last 24 hours and a 16% rise over the past week, pushing its market cap beyond $1.28 billion and boosting its trading volume by 30% to $107 million. Importantly, MKR has surpassed the overall crypto market’s performance this year, yielding a 159% return compared to Bitcoin’s 64% growth during the same timeframe.