The value of Immutable X tokens, IMX, just had a strong rebound some moments after the team announced their newly launched projects and their new collaboration with Gamestop. Visit at: bitcoinprime.software
As observed many times, the crypto market is efficiently catalyzed to higher sales volumes by increased awareness. Since the year started, non-fungible token projects haven’t felt the overall impact of the poor cryptocurrency markets. Huge cryptocurrencies like Bitcoin (BTC) and major altcoins have generally had weak rallies since January.
The rate at which investors and collectors are trooping into the NFT sector is second to none at the moment. Collectors are racing to be the first owners of Blue Mint, while investors are looking for better projects that will benefit users while generating revenue for the company.
The ImmutableX Project
The IMX project is one of the highest projects in the NFT ecosystem right now. These projects have greatly benefited from the continuous bullish outlook of the NFT markets.
ImmutableX is a 2-tiered scaling solution for non-fungible tokens hosted on the Ethereum blockchain. The platform provides users with instant transactions and other features with zero gas charges for trading and minting tokens.
According to CoinTelegraph Markets Pro and TradingViews data, the IMX floor price increased by more than 100% to a new daily high of $4.29 just a few days after falling to a low of $1.99.On this historic day for IMX, the daily trading volume moved to $333.5 million, showing a 510% surge.
The reasons for the price rallies can allude to the teams’ collaboration with Gamestop, the fast-rising widespread acceptance of the NFT sector, and the recent listing of the IMX token on Binance.
New Collaboration With GameStop
GameStop has been looking into diving into the NFT niche for some time. The tech company plans to use the layer-2 network on IMX to develop its own gaming marketplace on the Ethereum blockchain network. This project is scheduled to launch before the year ends.
This partnership provided the biggest boost to the floor price of IMX tokens. Both teams on February 3 made the announcement. According to the deal signed, a $100 million fund has been created to serve as grants to game developers and game studios who will be selected to build on the NFT marketplace on ImmutableX’s platform.
GameStop revealed that ImmutableX was the best platform among the survey firms. The networks’ faster and less expensive nature would appeal to more clients. Not to mention that the network is carbon-neutral—no risk to the environment—and users can go ahead and carry out countless transactions a day.
IMX’s lauded scalability was achieved using StarkWare’sStarkEx Zero-knowledge tech. This new generation ware offsets all carbon footprints created during transactions. It’s more or less like a trace-and-clean effect.
ImmutableX (IMX) on the Binance Exchange
Binance is one of the top three crypto exchanges in the world. By volume, Binance is at the top. A token’s listing on Binance is always followed by an increase in volume and price, even if it might only last a few hours or minutes.
Binance’s decision to list the IMX token is the second factor that caused the token to rally up the price charts. The data from CoinTelegraphTradeViews reveals that IMX experienced a substantial increase in its price just minutes after the listing. However, this only lasted a short time because the broader crypto market was extremely volatile on January 24th. The floor price plummeted as Bitcoin dipped below $34,000.
Today, interested buyers can purchase IMX on six out of the top seven crypto exchanges, including Binance, FTX, and Coinbase. Experts predict that the token will make more waves when the crypto market gets bullish. The Increasing
Popularity of NFTs
The NFT and Decentralized Finance crypto sectors are where investors are diving into nowadays. The growing interest in NFT projects is another factor pushing the valuation of Inmutable higher. Now and then, it’s common to read or listen to announcements of new partnerships launching in the mutable NFT marketplace and the NFT sector in general.
Notable announcements since the start of this year include the launch of Cyber Galz, VeeFriends, Battle Star NFT, Highrise, and Fantasy Labs. The KolectiveGG NFT marketplace was also launched, while new partnerships from Stardust and Shoyu_NFT were revealed.
In addition to these, Gods Unchained NFTs got listed on the ImmutableX layer-2 ethereum network.
