Investor Shift Fuels Altcoin Surge as IMX, AVAX Outperform

A sharp rally in Immutable (IMX), Avalanche (AVAX), and Hash (HASH) cryptocurrencies has drawn attention as the broader crypto market remains relatively flat, with major assets showing little movement. Immutable, which has seen a significant rebound in its value over the past three months, currently trades at $0.709257, representing a 76.46% increase compared to its value 90 days ago. The bullish momentum continued as the price rose by 13.13% within the last 24 hours.

Immutable’s market capitalization stands at $1.3758 billion, with a circulating supply of 1.9399 billion tokens. Analysts have noted a steady increase in the past 7 days, with a 28.12% gain, leading to positive returns for investors. Technical indicators suggest that while Immutable is in a strong bullish phase, a short-term correction could occur in the coming days. Price forecasts indicate that IMX could reach $1.28 by the end of 2024 and climb to $2.70 within the next few years. By 2028, the coin could reach as high as $4.11, according to the same data-driven predictions.

Meanwhile, Avalanche (AVAX) is experiencing a different kind of market activity, with traders closely monitoring its open interest levels. Open interest data includes notional values for both coin- and stablecoin-margined contracts, currently covering AVAX/USD, AVAX/USDT, and AVAX/BUSD pairs. While this data is not updated in real-time, aggregated open interest indicators are available for more immediate insights. The open interest metric provides a barometer for market sentiment and liquidity, which are essential for traders navigating AVAX’s price movements.

Hash (HASH) also saw a notable price increase, though specific data on its performance is limited in the available sources. However, the general trend across the crypto market points to a preference for smaller-cap altcoins, which tend to outperform when market sentiment improves. This has led to increased buying interest in projects like IMX and AVAX, which are perceived as having stronger fundamentals and clearer use cases compared to their broader market counterparts.

The recent market activity underscores a shift in investor focus from the major cryptocurrencies—such as Bitcoin and Ethereum—to more speculative and high-growth altcoins. Immutable and Avalanche are benefiting from this trend as traders look for exposure to assets with the potential for significant capital appreciation. However, the volatility and rapid price swings of these coins also mean that investors must remain cautious and closely monitor market conditions.

The bullish momentum for Immutable and Avalanche is being supported by broader macroeconomic factors, including improved risk appetite and growing adoption of blockchain technologies in enterprise and consumer applications. As more institutional and retail investors enter the market, the demand for tokens with clear utility and growth potential is expected to rise, further fueling the rally in IMX and AVAX.