This week, the cryptocurrency industry is likely to see lower volumes amid the holiday season.

However, there are still plenty of trends to track. Here are some of the top cryptocurrencies to watch this week.

Rising prices for excess liquid are gaining strength

excess fluid (The noise), any Dropped by air On November 29, it rose to a record high this week.

On Sunday, it hit a high of $35.18, up from its list price of $11, bringing its cumulative gain to nearly 200%. Its market capitalization jumped to $9.2 billion, and its fully diluted valuation to $33.7 billion.

Hyperliquid's performance is likely due to its strong market share in the decentralized perpetual trading industry. Data collected by Davey's call It shows that Hyperliquid handled $52 billion worth of perpetual futures volume in the past seven days. Jupiter, the second-largest player in the industry, had trading volume of $8.7 billion, while SynFutures processed $6 billion.

Hyperliquid's total value locked into its DeFi ecosystem also peaked at $3.4 billion, up from $188 million in October.

Technically, HYPE price needs to rise above $34.8 to confirm an upward breakout. This price is an all-time high and the upper side of an ascending triangle pattern. A move above this level would indicate further gains – perhaps to $40.

Hyperliquid was launched by Jeff Yan, founder of Chameleon Trading.

Horizon rises to 2022 highs

because (beautiful) Price will be in the spotlight this week as privacy-focused tokens continue to rise. It has risen for the past four days in a row and has risen to its highest level since May 2022.

ZEN symbol jumped due to grayscale Fired Horizen Trust, which will give investors access to the currency. It is also listed on the Gains Network, a decentralized derivatives trading platform built on the Polygon Network.

Investors rejoiced at the recent halving event on December 12.

Technicians are pointing to further gains in Horizen's price since it formed a strong bottom at $6.30. It has risen above the important resistance level at $18, its swing high on March 11. Further gains could take it to the 23.6% retracement level at $45, which is 53% higher than the current level.

Horizen, originally known as ZenCash, was founded by Rob Viglione and Rolf Versluis in 2017.

The immutable price of X falls before the token is unlocked

The third coin on this week's list of top cryptocurrencies is ImmutableSmall and medium enterprises). The price of the token suffered a harsh reversal and moved to its lowest level since November 21.

Immutable, a blockchain company based in Sydney, Australia, will be in the spotlight this week as the network unlocks more than 24.5 million IMX tokens worth more than $33 million. These unlocks are part of Immutable's token economy, which sees a similar number of coins released into the market each month.

Immutable now has 1.69 billion IMX tokens in circulation against a maximum supply of 2 billion. according to CoinMarketCapThe final unlock will take place in November 2025.

The IMX token, an Ethereum Layer 2 solution for NFTs and games, fell below Murrey Math Lines' S&R key pivot point at $1.5625. It is now approaching the final support level at $1.1720, which coincides with the uptrend line connecting the lowest swing since August. Therefore, the coin will likely continue to decline before the opening event on December 27.

Immutable X was founded by James Ferguson, Robbie Ferguson and Alex Connolly in 2018.

Other top cryptocurrencies to watch

Upcoming token unlocks include Ethena (this), Cardano (Ada), optimism (O.P), and equalize (but).