Immutable (IMX) Price Skyrockets 15%, Here's Why

IMX Chart

advertisement

Why is Immutable (IMX) Token Surging?

The catalyst of the price action was a declaration that the South Korean cryptocurrency exchange Upbit would list $IMX in its Korean Won market. Despite the crypto market’s continuous consolidation phase, the increase of more than 58% from its lowest point in June this year took place, making $IMX a light in a generally dreary market.

At 4:00 UTC on July 28, Upbit’s $IMX trading started, and the exchange only accepted $IMX deposits from the Ethereum network. This noteworthy development sparked the token’s meteoric growth and solidified its place as a dominant force in the cryptocurrency industry.

Immutable X, which offers APIs and game creation tools for NFT and Web3 games, specializes in NFT minting and trading. Its native token, $IMX, allows token holders to stake $IMX and participate in governance decisions in addition to serving as a governance and utility token for paying fees inside the ecosystem.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Exchange Affiliate Programs In 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

Also Read: Why The Falling Wedge Is Undeniably Bullish for Bitcoin Price?

More Partnerships For Immutable

For $IMX, there was additional good news. Immutable X announced a strategic alliance with Helika Analytics, which led to a further increase in the token’s value. The agreement will give Immutable ecosystem designers the ability to conduct in-depth Analysis utilizing Helika’s no-code tools, which is widely seen as a big improvement to the ecosystem’s usefulness.

Immutable X has undoubtedly caught the attention of the cryptocurrency community with this dual wave of listing news and strategic cooperation. Both professionals and enthusiasts will be closely monitoring its course as the market moves through the ongoing consolidation phase. Is this the start of $IMX’s rise, or is there more to come? Time will only tell.

Also Read: Binance Calls Out Regulatory Overreach by CFTC, Asks Court to Dismiss Lawsuit

Comments

Post a Comment

Popular posts from this blog

Bybit seeks crypto license in Hong Kong

Cryptocurrency exchange Bybit has applied for a Virtual Asset Service Provider (VASP) license in Hong Kong, according to regulatory filings. Bybit has joined the list of 14 applicants seeking a license from the Securities and Futures Commission (SFC) to offer services in Hong Kong. According to the regulatory filing submitted on Jan. 31, Bybit wants to offer services in the region through Spark Fintech Limited. The timing and approval status of Bybit’s application by the SFC remains unclear, as other crypto businesses, including OKX, are still awaiting regulatory approval. Thus far, only two companies, OSL Exchange and HashKey Exchange, have received a crypto trading license from the SFC. As of press time, Bybit has not issued any public statements regarding the application. Bybit expressed interest in expanding services in Hong Kong in April 2023, when the Dubai-based crypto exchange outlined plans to establish its central Asian business there. As crypto .news reported, ...
Read more

Insider trader turns $1,000 to $1 million in three hours

Image
The crypto market rally of 2024 has already featured many of the hallmarks of a cryptocurrency bull market, including the release of multiple new coins and tokens, a new all-time high (ATH) for Bitcoin (BTC), and various stories of rapid wealth-building. The most recent of the rags-to-riches stories came late on June 6 when data from Solscan revealed that an insider acquired more than 190 million Hulkmania (HULK) – 19% of the total circulating supply – at the cost of just 7.1 Solana (SOL), worth $1,200 at the time.  The trade enabled them to, within a mere three hours , sell the 190 million HULK for more than 5,760 SOL – worth just under $1 million at the time. Picks for you Haruko to enhance digital asset management with Stacks integration 24 mins ago ...
Read more

BlockFi used customer money to buy $30M insurance, creditors claim

BlockFi said selling its cryptocurrency lending platform might not generate value for creditors. Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan. On May 12, BlockFi outlined its Chapter 11 plan of reorganization in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate enough value for creditors as it owes nearly $1.3 billion to its top 50 creditors . In response, BlockFi creditors submitted another court filing on May 15, arguing that BlockFi deliberately took measures to delay the trial. Represented by the law firm Brown Rudnick, BlockFi creditors wrote that BlockFi sold about $240 million worth of crypto before filing for bankruptcy in late November 2022. The creditors emphasized that the crypto lender sold the assets “at the nadir,” referring to a massive market slump following the collapse of F...
Read more