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Immutable X (IMX) Soars After Upbit Listing and Strategic Partnerships

Discover how Immutable X (IMX) defied market trends with a price surge following its Upbit listing and strategic alliances.
Published on 2023-07-28

Immutable X (IMX) Price Surge

Immutable X (IMX), a layer-2 scaling solution on the Ethereum blockchain, has witnessed a significant price increase of over 15%, reaching $0.83, the highest since May 6. This surge followed its recent listing on Upbit, a major South Korean cryptocurrency exchange. The listing took place on July 28, allowing IMX deposits from the Ethereum network. Despite the broader market's consolidation, IMX's value has risen, enhancing its reputation in the crypto industry.

Strategic Partnerships Boosting IMX

The partnership with Helika Analytics has further propelled IMX's growth. This collaboration introduces in-depth analytical capabilities through Helika’s no-code tools, enriching the Immutable X ecosystem. These advancements highlight IMX’s potential to attract more attention and users within the crypto community.

Understanding Immutable X and IMX Token

Immutable X is a scaling solution on Ethereum, focusing on NFT minting and trading for web3 games. The IMX token serves multiple purposes within the ecosystem. Holders can stake IMX, participate in governance decisions, and use it for fees. This multi-functional utility reinforces the token's significance within the platform.

Current IMX Price and Market Sentiment

Currently, the IMX price is $0.7719, reflecting a 6.67% increase over the past 24 hours. With a circulating supply of 1.08 billion tokens, the market cap stands at $840,702,662. IMX has found support between $0.67 and $0.7, indicating stability around its resistance level. The Relative Strength Index (RSI) at 52.5 suggests a balanced market sentiment, implying neither overbought nor oversold conditions.

Future Outlook for IMX

As the market continues to consolidate, the crypto community's focus remains on IMX. The listing on Upbit and the strategic alliance with Helika Analytics have generated optimism regarding IMX's future potential. However, the market will ultimately determine whether this marks the start of a sustained rise or a temporary peak for the token.

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