CoinMarketCap: 3 altcoins lead with over 20% gains 

Stacks, NEAR Protocol, and Mina, 3 altcoins, top CoinMarketCap’s top gainers chart with over 20% price increases.

According to an update by CoinMarketCap, the world’s most-referenced price-tracking website, Stacks (STX), currently stands at $1.48, a 27.1% increase. Stacks operates as a Bitcoin layer, facilitating the integration of smart contracts and decentralized applications with Bitcoin as an asset, enabling transaction settlements on the Bitcoin blockchain. Its most recent growth is attributed to its recognition by Coinbase Institutional on X.

Following STX is the NEAR Protocol (NEAR), with a current market price of $2.87, a 21% increase. The recent bullish momentum of the asset may be attributed, in part, to significant partnerships announced by NEAR Protocol in early November. 

Among them is the Nov. 8 announcement that the protocol collaborated with Polygon Labs, focusing on enhancing zero-knowledge proofs. Following this, on Nov. 10, NEAR Protocol established a partnership with Eigen Labs to improve Ethereum rollups’ efficiency and reduce associated costs. These strategic alliances could be seen as key elements contributing to the positive trajectory of the asset, which has since spilled over into December.

The third spot is Mina (MINA), at $0.8993, a 20% increase. The Mina Foundation, the startup driving the MINA protocol, has recently undergone a leadership reshuffle in anticipation of its relocation to Switzerland. This strategic move aligns with the firm’s readiness for upcoming enhancements, including releasing zero-knowledge smart contracts like the zkApps.

Reports from Dec. 20 continue to show that altcoins are reigning, and investors’ appetite for risk is growing.