Despite market volatility, the IMX token fights the downward strain and continues its earlier upward trajectory, demonstrating a singular resilience and potential decoupling from cryptocurrency correlation.
Immutable’s IMX Hits $2 Milestone
The trajectory of Immutable’s IMX token has been characterised by a fast and substantial improve in worth since October. This upward motion reached its zenith immediately, because the IMX token breached previous the important thing $2 stage.
At the time of writing, IMX was buying and selling at $2.01, up 42% within the final seven days, information from CoinMarketCap reveals.
Such a peak represents a big milestone for the token, because it marks a stage that had not been reached since April 2022. This prolonged period underscores the importance of the present worth surge, suggesting a notable departure from the historic worth tendencies of the IMX token.
IMX seven-day worth motion. Source: CoinMarketCap
With a market valuation of greater than $2.8 billion, Immutable X is without doubt one of the largest layer-2 networks globally. It is a community that’s important to the non-fungible token (NFT) and gaming industries.
The group has collaborated with a few of the main names within the gaming sector in the previous couple of years. Companies like Merit Circle, Illuvium, Unity, Ubisoft, and StarkWare are a number of of essentially the most famend companions.
In an effort to rework gaming on Beam sooner or later, the community has partnered with Merit Circle DAO and GameStop, two of the largest American retailers.
IMX market cap presently at $2.599 billion. Chart: TradingView.com
In order to determine Transak because the “principal payments partner” for Immutable Checkout on the zkEVM community, Immutable established a brand new partnership with the funds processor on Monday.
Because of Immutable X’s low transaction prices, Ethereum-grade safety, speedy transaction charges, and user-friendliness, builders adore it. Additionally, it comprises all of the instruments required by builders to create scalable video games, together with Orderbook, Marketplace, Checkout, and Passport.
IMX Price Prediction
With 18 of the 30 (or 60%) inexperienced days and 11.72% worth volatility over the previous 30 days, Immutable X continues to be attracting the curiosity of buyers. Likewise, Immutable’s future seems shiny as 27 technical indicators are glowing inexperienced.
IMX worth forecast. Source: Coincodex
The CoinMarketCap rating of the IMX token has elevated to twenty ninth. The spike is in response to VanEck’s declare that the introduction of latest blockchain-based video video games, such Illuvium, which is due out subsequent yr, could elevate the worth of the IMX token.
Immutable has additionally been attempting to repair most of the technological ache factors which have hampered the success of Web3 gaming to date, based on VanEck.
Meanwhile, Coincodex’s present Immutable worth prediction signifies that this week’s worth of Immutable will fall by -7.18% to $ 0.003929.
IMX Greed Index. Source: Coincodex.
The coin’s technical indicators present a bearish perspective in the mean time, regardless of the Fear & Greed Index hitting 65 (Greed).
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