IMX Price Analysis August 2022

IMX is a token of platform Immutable X. Its current price is around $0.8646 by the time of writing, with a low of $0, and has a market cap of 200 million dollars.

What is Immutable X?

Immutable X is a new protocol for trading NFTs from Ethereum. It provides instant trade confirmation, scalability, and no gas fees. All of this is done without compromising user custody.

In addition, it has a scaling protocol called Zero-knowledge Rollup (ZK-Rollup), which improves security by validating transactions on the Ethereum blockchain.

Immutable X helps you keep the security of your NFTs intact through their well-laid ecosystem. You can create & trade ERC721 and ERC20 tokens on Immutable X at comparably lower fees without compromising safety.

What is IMX?

IMX is the coin of the Immutable X platform, which is around $0.8646 by the time of writing, with a low of $0. It reached a high of $9.50, and its current ranking is #135, according to CoinMarketCap, with a market cap of 200 million dollars.

IMX is an Ethereum-based token that powers Immutable X, a scaling solution that allows sending near-instant, zero gas fee transactions.

IMX can be used to pay for staking on the network and to vote on the protocol’s future. It can also be used for transaction fees in place of Ethereum’s tokens.

IMX Coin Market Analysis 

IMX has a total supply of coins worth around $0.8646 with a market volume of 25 million dollars, whereas the market capitalization is 200 million dollars at writing. 

IMX Price Prediction

According to this prediction, the price of Immutable X will be $3.54 by 2022, $4.04 in 2023, and $4.73 by 2024. On the 4H timeframe, the price action of $IMX/USDT consolidates inside the pennant. We have to wait for a successful breakout or breakdown.

On-demand analysis on $IMX or any other coin can join our Telegram channel anytime.

Imx Price Chart August 2022
IMX Price Chart August 2022

Closing Thoughts

Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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