According to the statement made by the cryptocurrency analysis company Santiment, there have been remarkable developments in three altcoins in particular this week.
Santiment analysts pointed to cryptocurrencies and their network activities, which have risen impressively in the last week. Analysts drew attention to altcoins Loom Network (LOOM), Frontier (FRONT) and Immutable (IMX).
In the last week, LOOM price has increased by 145%, FRONT price has increased by 138% and IMX has increased by 15% as it has fallen slightly from its peak.
According to Santiment analysts, these three cryptocurrencies have also seen large increases in network activity in terms of the number of new addresses created. Analysts argued that they are bullish on these three cryptocurrencies if such network activity growth is sustainable.
However, among the three cryptocurrencies, IMX is the largest with a market value of approximately $700 million, and FRONT is among the smaller altcoins with a market value of $35 million. FRONT, which reached its all-time high price of $7 three years ago, is trading at $0.39 at the time of writing this article.
*This is not investment advice.