IMX is the native token of Immutable X, a layer-two scaling solution for NFTs on Ethereum. In this article, we will look at the current price of IMX, its weekly performance, its future outlook, and some of the latest news affecting the Immutable X ecosystem.
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IMX Price Prediction
IMX is trading $1.92 , with a 24-hour trading volume of $63.05 million. IMX has a circulating supply of 1.36 billion IMX, and a market cap of $2.60 billion , making it the 28th most valuable cryptocurrency.
Let’s have a look at the chart for trend analysis:
The price is trying to break its horizontal main resistance zone. Keep an eye on the breakout. After a successful breakout it will pump hard.
Weekly Price Analysis
The crypto has been consolidating around $2 for the next two days, as it faced some resistance at the $2.2 level. It regained some momentum on 9 Feb 2024, as it surged to $2.5, boosted by the news that Immutable partnered with Polygon to enable cross-chain NFT transfers.
IMX ended the week on a negative note, as it fell to $1.9, despite some positive sentiment in the crypto market, as Bitcoin neared $50,000 for the first time since late 2021.
News Roundup
Here are some of the latest news headlines affecting the Immutable X ecosystem:
- Immutable joins Amazon’s ISV Accelerate Program: Immutable announced that it had joined Amazon’s ISV Accelerate Program, which is a co-sell program for AWS Partners who provide software solutions that run on or integrate with AWS. This will enable Immutable to leverage Amazon’s global sales force and partner network to reach more customers and grow its business.
- Immutable partners with Polygon to enable cross-chain NFT transfers: Immutable partnered with Polygon, a layer-two scaling solution for Ethereum, to enable cross-chain NFT transfers between Immutable X and Polygon. This will allow users to move their NFTs across different platforms and marketplaces, and enjoy the benefits of both layer-two solutions.
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