Watch this week for cryptocurrencies: December 5

 Pay Attention to These Coins

The performance of the cryptocurrency market hasn't been great, but it hasn't been all that horrible either over the past week. Considering that Bitcoin is presently trading at $17,000, it may reach $20,000 by the end of the year.

We're going to be looking at GMX (GMX), ImmutableX (IMX), Uniswap (UNI), Aptos (APT), and Fantom this week (FTM). We took into account a number of variables while choosing these assets, including but not limited to favorable technical advancements, noteworthy news stories, and price variations.

KEY LESSONS

• The price of the GMX (GMX) token increased by over 30% as a result of the cryptocurrency market's expanding tendency toward decentralized platforms.
• The ImmutableX (IMX) token surged by more than 18% as the ecosystem's growth continued.
• After adding NFTs to the platform, the value of the Uniswap (UNI) token increased by 18%.
• The much-discussed Aptos (APT) project announced a Web3 partnership with Binance and integrated with Moonpay, which contributed to an 18% spike in the value of its coin.
• After founder Andre Cronje disclosed that the project had substantial financial reserves, the value of the Fantom (FTM) token increased by more than 25%.

GMX (GMX) 

The GMX exchange's GMX coin had a recent increase of over 30%. The action was perhaps motivated by a recent desire among market players for decentralized platforms. Additionally, GMX outperformed Uniswap in terms of trading fees for the first time ever.

Since FTX's demise, there has been a discernible shift in the cryptocurrency market's preference towards decentralized systems. As the FTX tragedy demonstrated, investors are leery of centralized organizations and their vulnerabilities. Currently, the cost of a GMX token is about $54.18.

ImmutableX (IMX) 

ImmutableX, a Web3 platform, saw an 18% gain in the value of its IMX token over the previous week as a result of an important announcement for its ecosystem. It specifically announced the beginning of Layer 2 network bidding. Layer 2 features enable quicker and more affordable transactions.

The function is available across the entire marketplace ecosystem. Anyone can create permissionless, binding bids on IMX assets, according to the team, and it supports liquidity and volumes. The price of IMX is now holding at approximately $0.49.

Uniswap (UNI) (UNI)

One of the most well-known companies in the cryptocurrency market is Uniswap, and its UNI token ranks in the top 20 by market cap. Due to the decentralized platform's introduction of NFTs, the token saw an 18% gain over the previous week.

Now, users can trade NFTs on the biggest NFT platforms. Additionally, the team disclosed that it would airdrop USDC coins valued at $5 million to former Genie customers and grant gas rebates to the first 22,000 purchasers. After beginning the week prior at $5.28, the UNI token is currently trading for about $6.25.

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Fantom (FTM)

As a result of founder and DeFi veteran Andre Cronje's disclosure that the company has substantial cash reserves, the value of the Fantom project's FTM coin surged by a staggering 25%.

The project had over $100 million in stablecoins as of November 2022, as well as another $100 million in other cryptocurrencies and $50 million in non-crypto assets. He added that, excluding capital gains, Fantom presently brings in over $10 million annually. FTM is presently valued at about $0.24.