Crypto Price Prediction For December 12: HNT, AVAX, INJ

Crypto Price Prediction: On December 11th, the crypto witnessed a sudden sell-off as the leading cryptocurrency also reverted from $44500 higher. This reversal has turned the uncertainty of many major cryptocurrencies into a short pullback.

Timeline of Avalanche, Helium, Injective

Avalanche (AVAX), a cryptocurrency that has been turning heads recently, stands out as one of the few digital assets that managed to thrive in a bearish market. While major cryptocurrencies like Bitcoin and Ethereum faced a 6% decline in December, AVAX surged, posting an impressive 13.6% gain in just 24 hours, according to CoinGecko data.

Injective Price Prediction: Defying the broader market sentiment of uncertainty, the Injective coin entered a strong recovery mode from the second week of December. Amid this rally the coin surged from $16.63 to a recent high of $25, registering a growth of 67.48% in a week.

Institutional investors are waiting on the sidelines for more crypto regulations, according to the chief strategy officer of market intelligence firm CoinShares. Bitcoin (CRYPTO: BTC) has surged over 14% this week and hovering around $44,000, a stark contrast to its position in January.

As the second week for crypto trading began, the market slammed the bullish hopes of traders after bringing remarkable surges for over the past few weeks. Major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana's SOL, along with other significant altcoins, were hit by bearish volatility and opened in a downtrend.

Solana-based Helium Network's HNT token quietly hit a yearly high of more than $5 during the weekend following a 60% price surge in seven days, according to CryptoSlate's data. HNT's price has retraced to $4.70 as of press time amid a broader market correction.

Early on Monday, a swift correction erased billions from the crypto market, causing major tokens to lose up to 10% in value within half an hour. As of December 11, 2023, almost all top 20 coins by market cap were in the red for the past 24 hours.

Starting the week in a bearish mode, Bitcoin tumbles down to the $42K support with a double top reversal in the 4H chart. As the BTC price fails to cross the $45K barrier, Altcoins will enter a short pullback phase and take a short step back.

Despite the crypto industry recording a significant correction in value with a drop of almost 4% within the past 24 hours, the INJ price has displayed a massive jump of over 18% in value, resulting in the price recording a new yearly high.

Avalanche, the fourth-generation proof-of-stake (PoS) blockchain, incurs significant costs to incentivize its validators. Token Terminal data on December 7 shows that in the past year, the smart contract platform paid over $275 million in AVAX to compensate its validators despite generating only $11.5 million in user fees.

Helium (HNT), a decentralized network launched in 2019, has experienced significant gains across multiple timeframes, making it one of the top performers in the cryptocurrency market. This price surge comes alongside Solana's (SOL) remarkable 56% increase over the past 30 days and other protocols built on Solana's network.