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IMX Price and Market Capitalization
As of now, the market capitalization of Immutable X (IMX) is approximately $2.34 billion. This value is calculated by multiplying the current price of IMX by its circulating supply.
For comparison, check out our detailed analysis on Polkadot’s market cap and future predictions.
Historical Price Trend of IMX
Historically, IMX’s price has experienced significant fluctuations. It reached an all-time high of $9.52 in November 2021. Over the past year, the price has ranged from a high of $3.64 to a low of $0.49.
Interested in other price trends? Read about VeChain’s price predictions.
IMX Trading Volume Compared to Historical Averages
Recently, IMX’s 24-hour trading volume was around $44.6 million. This is lower compared to its peak trading volumes, which have exceeded $100 million during periods of high market activity.
For insights on trading volumes of other cryptocurrencies, see our Polygon price prediction.
Key Factors Driving Recent Price Movements of IMX
Recent price movements of IMX have been influenced by several factors:
- High-Profile Partnerships: Collaborations with companies like Disney and Tencent.
- Market Sentiment: Overall trends in the cryptocurrency market.
- News Cycles: Announcements and updates from the IMX team.
For more on how partnerships impact prices, explore the Fidelity Bitcoin ETF.
Primary Developers and Influencers Behind IMX
Immutable X was co-founded by James Ferguson, Robbie Ferguson, and Alex Connolly. The Ferguson brothers are notable for creating the blockchain-based card game Gods Unchained. Their leadership has been crucial in driving the project’s development.
For more on influential figures in crypto, check out The Elon Musk Crypto Phenomenon.
Total Supply and Circulating Supply of IMX
The total supply of Immutable X (IMX) is 2 billion tokens, with a circulating supply of approximately 1.5 billion tokens.
Upcoming Events or Milestones That Could Impact IMX’s Price
Upcoming events such as new feature launches and partnerships with major gaming companies could significantly impact IMX’s price. Anticipated releases of blockchain games and collaborations with companies like Disney and Tencent are expected to drive interest.
For an analysis of timely buys, see Sei Price Analysis.
Sentiment on Social Media and Online Communities About IMX
The sentiment on social media about IMX is generally positive. Many users express optimism about its future, especially with the potential for IMX to revolutionize the gaming industry.
Risks Associated with Investing in IMX
Investing in IMX carries several risks, including market volatility, regulatory changes, and competition within the blockchain gaming sector. The success of IMX heavily depends on the adoption of its platform and games.
For an interesting perspective on risky investments, read about Dogecoin’s potential.
IMX’s Performance Compared to Other Cryptocurrencies
Compared to other cryptocurrencies, IMX has shown significant growth potential, especially within the gaming sector. IMX has outperformed the global cryptocurrency market with a 4.5% increase in the last 30 days, while the market was down by 3.7%.
For comparative insights, explore our Metis Coin analysis.
Technical Indicators for IMX’s Future Price Movements
The Relative Strength Index (RSI) for IMX is currently around 53.41, indicating a neutral trend but leaning slightly bullish. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, suggesting potential upward momentum.
For more on technical indicators, visit our XRP analysis.
Significant Partnerships or Endorsements Related to IMX
IMX has formed significant partnerships with major companies like GameStop, Amazon Web Services (AWS), and Ubisoft. These collaborations aim to enhance the gaming experience on the Immutable X platform and expand its reach within the gaming community.
Recent News or Announcements Related to IMX
Recent announcements include the launch of new features on the Immutable X platform and the introduction of new blockchain games. IMX has been actively engaging with its community through events and updates.
For a guide on buying emerging tokens, check out our Safemoon guide.
IMX’s Liquidity Compared to Other Assets in the Market
IMX’s 24-hour trading volume is around $53.5 million, indicating good liquidity. This makes it easier for investors to buy and sell IMX without significantly impacting its price. Compared to other altcoins, IMX’s liquidity is relatively high.
Role of IMX Within Its Ecosystem
IMX serves as the native utility token of the Immutable X platform. It is used for transaction fees, staking, and as a reward for users. Additionally, IMX acts as a governance token, allowing holders to participate in decision-making processes within the ecosystem.
Regulatory Considerations or Potential Impacts for IMX
Regulatory changes can significantly impact IMX’s price. Stricter regulations on blockchain technology or cryptocurrency trading in major markets could reduce investor confidence and trading volume. Conversely, favorable regulations promoting blockchain innovation could boost IMX’s adoption and price.
Common Criticisms or Concerns About IMX
Common criticisms of IMX include concerns about its high volatility, the complexity of its technology, and potential regulatory scrutiny. Additionally, some critics argue that the success of IMX is heavily dependent on the broader adoption of blockchain technologies.
Market Interest in IMX Compared to Other Cryptocurrencies
IMX has garnered significant interest due to its focus on blockchain gaming and NFTs. While it may not have the same level of recognition as Bitcoin or Ethereum, it has a strong following among investors interested in gaming and digital collectibles.
Notable Whales in the IMX Market
There are notable whales in the IMX market. For instance, a whale recently accumulated over $18 million worth of IMX tokens, which led to significant price fluctuations. Large transactions by whales can impact market sentiment and liquidity.
Projected Short-Term and Long-Term Price Targets for IMX
Short-term projections suggest that IMX could reach around $1.66 in the next 10 days. Long-term forecasts vary, with some analysts predicting that IMX could reach $3.89 by 2025 and potentially up to $7.55 by 2030.
For another long-term prediction, see our CumRocket analysis.
