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The cryptocurrency market moves fast in both price and adoption changes, which could make previously unknown projects quickly rise in the right circumstances in order to accrue financial gains to their holders as the demand grows in relation to the available token supply.
This phenomenon was recently observed once again by crypto analysts from Santiment’s SanBase PRO subscription platform, according to a post shared by its official X account @santimentfeed on September 22.
Interestingly, Loom Network (LOOM), Frontier (FRONT), and ImmutableX (IMX) are among the top-performing cryptocurrencies in the week amid growing demand for new crypto wallet addresses being created in the network.
LOOM, FRONT, and IMX price surge and network growth
“Loom (+145%), Frontier (+138%), and ImmutableX (+29%) have been strong performing assets over the past week. Each has enjoyed major network growth (new addresses being created). If this growth is maintained, their prices can continue their rallies.”
— Santiment (@santimentfeed)
LOOM price analysis
Loom Network was the best performer among the analyzed projects. With a 145% price appreciation and 304 new addresses created in the week.
LOOM is currently being traded at $0.11 by press time, with daily gains of 5.36% in the last 24 hours.
FRONT price analysis
Frontier had the lower network growth among these three cryptocurrencies, registering 43 newly created addresses, which has not prevented the token FRONT from seeing massive weekly gains of 138%.
Meanwhile, FRONT is changing hands at $0.35, in a small retrace of 1.77% in the last 24 hours, from the weekly pump.
IMX price analysis
Notably, ImmutableX is the digital asset with the highest market capitalization from this analysis. Registering a meaningful 29% price appreciation in the last seven days, with 174 new addresses for the network growth metric.
IMX is priced at $0.61 by press time, having lost 6.9% in the day, for a price retrace that drained almost half of the reported gains.
All things considered, the three mentioned cryptocurrencies have a comparatively low market cap and low liquidity among the most valuable projects in the market. Which means they are subject to high volatility, for quick changes in price.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.