Explore Immutable X (IMX) price analysis with insights into bullish trends and recent gains. Learn about its gaming-focused protocol and utility as an ERC-20 token for fees, staking, and governance.

Immutable X (IMX) Price Analysis: Bullish Trends and Recent Gains Revealed

Explore Immutable X, a cutting-edge Web3 protocol revolutionizing Ethereum’s capabilities for gaming. Immutable X enhances transaction speed and reduces costs using StarkWare’s ZK rollup technology. Discover its ERC-20 token, IMX, used for protocol fees, staking, and governance, with insights into its current market performance and trading dynamics.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/user/register?cn=400103"><img src="https://static.bitrue.com/bitrue-cms/upload/image_8a5d52d3aa.png" width="603" height="149" border="0" v:shapes="Picture_x0020_2" uploadprocessed="true" alt="image.png" srcset="https://static.bitrue.com/bitrue-cms/upload/image_8a5d52d3aa.png 245w, https://static.bitrue.com/bitrue-cms/upload/image_8a5d52d3aa.png 500w, https://static.bitrue.com/bitrue-cms/upload/image_8a5d52d3aa.png 750w, https://static.bitrue.com/bitrue-cms/upload/image_8a5d52d3aa.png 1000w" sizes="100vw"></a><h2 style="margin:.25in 0in 6.0pt;text-align:justify;">Key Takeaways</h2><ul style="padding-left:48px;"><li>Game-Changing Protocol: Immutable X enhances Ethereum’s gaming capabilities with faster transactions and lower costs using StarkWare’s ZK rollup technology.</li><li>Utility of IMX Token: IMX fuels Immutable X’s operations, covering protocol fees, staking, and governance, with rewards for active participants.</li><li>Market Dynamics: IMX offers strategic opportunities in a dynamic market, reflecting its pivotal role in decentralized gaming and digital assets.</li></ul><h2 style="margin:.25in 0in 6.0pt;text-align:justify;">What is Immutable X?</h2><a target="_blank" rel="noopener noreferrer" href="https://www.immutable.com/">Immutable</a> is the main Web3 firm behind the Immutable X protocol. The company is part blockchain developer and part game publisher, as Immutable developed the NFT card-battling game Gods Unchained and is publishing the action role-playing game Guild of Guardians. By January 2024, Immutable has raised nearly $280 million in funding from 32 investors, including Tencent, GameStop Digital Ventures, King River Capital, and the now-defunct Alameda Research.&nbsp;Immutable X is a gaming-focused protocol that’s built on top of the Ethereum mainnet’s security but with the speed and lower transaction costs of a layer-2 scaling network. Essentially, it provides extra benefits on top of the Ethereum mainnet. The network allows users to make transactions with zero gas fees. This is partly possible due to Immutable X’s use of StarkWare’s ZK rollup technology which bundles transactions and supports over 9,000 NFT transactions per second.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/blog/what-is-immutable">What is Immutable? The Future of Web3 Games</a><h2 style="margin:.25in 0in 6.0pt;text-align:justify;">What is $IMX?</h2>IMX is an ERC-20 token on Ethereum, utilized for covering protocol fees, staking, and governance. Fees paid in IMX contribute to the “staking rewards pool” from which tokens are distributed to stakers biweekly. Stakers are users holding IMX on Ethereum L1 or Immutable X L2, actively participating in governance votes within the past 30 days, and either owning an NFT on Immutable X or completing a trade recently.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/blog/what-is-megaeth">What is MegaETH? A Closer Look at Real-Time Ethereum</a><h2 style="margin:.25in 0in 6.0pt;text-align:justify;">Immutable X (IMX) Price</h2><img src="https://static.bitrue.com/bitrue-cms/upload/image_3d40fe2c33.png" width="509" height="348" border="0" v:shapes="Picture_x0020_1" uploadprocessed="true" alt="image.png" srcset="https://static.bitrue.com/bitrue-cms/upload/image_3d40fe2c33.png 228w, https://static.bitrue.com/bitrue-cms/upload/image_3d40fe2c33.png 500w, https://static.bitrue.com/bitrue-cms/upload/image_3d40fe2c33.png 750w, https://static.bitrue.com/bitrue-cms/upload/image_3d40fe2c33.png 1000w" sizes="100vw">Source: Bitrue&nbsp;Currently, the price of&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/price/IMX/?cn=400103">IMX/USDT</a> is $1.2397, showing a 5.47% increase in the last 24 hours. Within this period, the highest price reached was $1.2941, and the lowest was $1.1697. The market capitalization stands at $1.93 billion, reflecting the total market value of the circulating supply of IMX. The 24-hour trading volume is $51,614.884, indicating the amount of IMX traded in this timeframe.&nbsp;The candlestick chart displays daily candlesticks for IMX/USDT, with each candlestick representing one day of trading. The most recent candlestick shows a slight upward movement with a green body, indicating a price increase from the opening to the closing of the day. Specifically, the opening price was $1.2356, the highest price was $1.2532, the lowest price was $1.2058, and the closing price was $1.2402.&nbsp;At the bottom of the chart, the Relative Strength Index (RSI) is shown. The RSI (14) is a momentum oscillator that measures the speed and change of price movements, with a current value of 29.8381. An RSI value below 30 typically indicates that the asset is oversold, suggesting a potential buying opportunity. Conversely, an RSI above 70 would indicate overbought conditions.&nbsp;The overall trend in the chart appears to be bearish, as indicated by the series of lower highs and lower lows from mid-May to early July. The price is currently testing a support level around the $1.24 mark. If the price holds above this level, it might indicate a potential reversal or consolidation phase. The recent increase in price and the RSI being in the oversold territory suggest that a short-term bounce might be possible.&nbsp;The IMX/USDT pair has shown a recent price increase, but the overall trend remains bearish. The RSI indicates oversold conditions, which might present a buying opportunity if the support level holds. Traders should monitor the price action closely to see if a reversal or further decline occurs.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/trade/imx_usdt/?cn=400103">How to Buy: Immutable X (IMX)</a><h2 style="margin:.25in 0in 6.0pt;text-align:justify;">Conclusion</h2>Immutable X stands at the forefront of Web3 innovation, leveraging Ethereum’s security while enhancing transaction speeds and reducing costs through StarkWare’s ZK rollup technology. With major funding and partnerships, including Tencent and GameStop Digital Ventures, Immutable X has pioneered games like Gods Unchained and Guild of Guardians, solidifying its role in blockchain gaming. IMX, its ERC-20 token, fuels protocol operations, and governance, supported by a robust staking rewards system. As IMX/USDT trades dynamically, its recent price movements hint at market opportunities, urging investors to stay informed amidst evolving trends in decentralized gaming and digital assets.<h2 style="margin:.25in 0in 6.0pt;text-align:justify;">FAQ</h2><h3 style="margin:16.0pt 0in 4.0pt;text-align:justify;">What is Immutable X and how does it enhance Ethereum gaming capabilities?</h3>Immutable X is a Web3 protocol focused on gaming, built on Ethereum’s security with faster transactions and lower costs using ZK rollup technology. It offers benefits like zero gas fees, making it efficient for transactions.<h3 style="margin:16.0pt 0in 4.0pt;text-align:justify;">What is IMX and how is it used within Immutable X?</h3>IMX is an ERC-20 token used for covering protocol fees, staking, and governance within Immutable X. It contributes to a staking rewards pool, distributed biweekly to active participants who hold IMX and engage in governance activities.<h3 style="margin:16.0pt 0in 4.0pt;text-align:justify;">How can I participate in Immutable X and start using IMX?</h3>To get involved with Immutable X, users can acquire IMX tokens and engage in governance by holding IMX on Ethereum L1 or Immutable X L2, owning NFTs on Immutable X, or actively trading. This participation not only supports the network but also potentially earns rewards through staking activities.

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Immutable X stands at the forefront of Web3 innovation, leveraging Ethereum’s security while enhancing transaction speeds and reducing costs through StarkWare’s ZK rollup technology. With major funding and partnerships, including Tencent and GameStop Digital Ventures, Immutable X has pioneered games like Gods Unchained and Guild of Guardians, solidifying its role in blockchain gaming. IMX, its ERC-20 token, fuels protocol operations, and governance, supported by a robust staking rewards system. As IMX/USDT trades dynamically, its recent price movements hint at market opportunities, urging investors to stay informed amidst evolving trends in decentralized gaming and digital assets.

Immutable X is a cutting-edge layer-2 scaling network on Ethereum, enhancing transaction speed and reducing costs. Discover how Immutable X revolutionizes Web3 gaming!

What is Immutable? The Future of Web3 Games

Immutable X is a layer-2 scaling network built on Ethereum, the leading blockchain for decentralized applications (dApps). This article delves into Immutable’s dual role as a blockchain developer and game publisher, highlighting its major projects and significant funding milestones. Learn how Immutable X leverages advanced technology to offer fast, cost-effective transactions, and explore its widespread adoption by NFT marketplaces and game developers. Additionally, find out about Immutable’s partnership with Polygon to create the new zkEVM scaling network. Dive in to understand the full scope and impact of Immutable X in the Web3 gaming ecosystem.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/user/register?cn=400103"><img src="https://static.bitrue.com/bitrue-cms/upload/image_83a40406f0.png" alt="image.png" srcset="https://static.bitrue.com/bitrue-cms/upload/image_83a40406f0.png 245w, https://static.bitrue.com/bitrue-cms/upload/image_83a40406f0.png 500w" sizes="100vw" width="601" height="149" border="0" v:shapes="Picture_x0020_1" uploadprocessed="true"></a><h2 style="margin-left:0in;text-align:justify;">Key Takeaways</h2><ul style="list-style-type:disc;"><li style="color:black;line-height:normal;margin-bottom:0in;tab-stops:list .5in;vertical-align:baseline;">Immutable X Leverages Ethereum Security: Combines Ethereum’s security with fast, cost-effective transactions using layer-2 scaling technology.</li><li style="color:black;line-height:normal;margin-bottom:0in;tab-stops:list .5in;vertical-align:baseline;">Wide Adoption and Strategic Partnerships: Widely adopted by NFT marketplaces and game developers, with significant backing and collaborations.</li><li style="color:black;line-height:normal;margin-bottom:0in;tab-stops:list .5in;vertical-align:baseline;">Innovative Technology for Web3 Gaming: Uses advanced technology like ZK rollups and partners with Polygon to enhance its gaming platform.</li></ul><h2 style="margin-left:0in;text-align:justify;">What is Immutable X?</h2><a target="_blank" rel="noopener noreferrer" href="https://www.immutable.com/">Immutable</a> is the main Web3 firm behind the Immutable X protocol. The company is part blockchain developer and part game publisher, as Immutable developed the NFT card-battling game Gods Unchained and is publishing the action role-playing game Guild of Guardians. By January 2024, Immutable has raised nearly $280 million in funding from 32 investors, including Tencent, GameStop Digital Ventures, King River Capital, and the now-defunct Alameda Research.&nbsp;Immutable X is a gaming-focused protocol that’s built on top of the Ethereum mainnet’s security but with the speed and lower transaction costs of a layer-2 scaling network. Essentially, it provides extra benefits on top of the Ethereum mainnet. The network allows users to make transactions with zero gas fees. This is partly possible due to Immutable X’s use of StarkWare’s ZK rollup technology which bundles transactions and supports over 9,000 NFT transactions per second.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/blog/most-popular-telegram-based-crypto-games">Most Popular Telegram-Based Crypto Games: From Hamster Kombat to Catizen</a><h2 style="margin-left:0in;text-align:justify;">How Immutable X Works</h2>Immutable X is compatible with all Ethereum wallets, including MetaMask and Coinbase Wallet. Users can also use an Immutable Passport for transactions on the network. The Immutable Passport is designed to be an easy-to-use crypto wallet for gamers, providing a unified identity across different games. The protocol operates on top of the Ethereum mainnet, utilizing its decentralization and security to finalize transactions. However, thanks to ZK rollups, Immutable X ensures that transactions on its layer-2 network remain fast and cost-effective. Immutable has developed multiple REST APIs, which adhere to specific architectural standards. These REST APIs enable transactions to be completed via an API call, making the process quicker than interacting directly with a protocol through a smart contract.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/blog/what-is-hamster-kombat">What is Hamster Kombat? A New Telegram Gaming Sensation</a><h2 style="margin-left:0in;text-align:justify;">Who Uses Immutable X?</h2>Many NFT marketplaces and game developers have chosen Immutable X for their products and services. In June 2022, Immutable Ventures created a $500 million fund to invest in Web3 gaming projects on Immutable X and provide grant-based funding to various developers.&nbsp;NFT marketplaces such as Rarible, Mintable, NFTrade, TokenTrove, OKX, and Kinguin use Immutable X. GameStop, a well-known brick-and-mortar video game retailer, also launched its NFT marketplace on Immutable X in 2022. However, GameStop has since discontinued its crypto wallet and plans to shut down its marketplace in February 2024.&nbsp;Web3 games like IMVU, Guild of Guardians, Habbo, Cross the Ages, Undead Blocks, Ember Sword, Planet Quest, Gods Unchained, WAGMI Defense, and Tiny Colony are building their elements on Immutable X. As Web3 gaming continues to grow, Immutable X competes with other blockchains like Polygon, Avalanche, Arbitrum Nova, Sui, and Solana to provide a fast and seamless gaming experience.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/blog/hamster-kombat">Ultimate Guide to Hamster Kombat 2024</a><h2 style="margin-left:0in;text-align:justify;">What is Immutable zkEVM?</h2>Immutable is expanding beyond just Immutable X as its Ethereum gaming platform grows. In March 2023, the firm announced a partnership with Polygon to develop a new Immutable zkEVM scaling network. This network will combine Polygon’s zkEVM technology with Immutable’s gaming platform.&nbsp;Several games, including MetalCore, Shardbound, and Elemental Knights, have announced plans to use the Immutable zkEVM. According to an Immutable blog post, the zkEVM network offers native compatibility with Ethereum Virtual Machine (EVM) smart contracts, potentially simplifying the process for developers to migrate from other EVM chains and use various third-party tools.&nbsp;As Immutable continues to grow, its IMX token has become the most valuable gaming token. Currently, Immutable X is trading at $1.64 per IMX/USD, with a current market cap of $2,456,365,320, and a 24-hour trading volume is $55,019,611.&nbsp;Read more:&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bitrue.com/trade/imx_usdt/?cn=400103">How to Buy: Immutable X (IMX)</a><h2 style="margin-left:0in;text-align:justify;">Conclusion</h2>Immutable X is revolutionizing the Web3 gaming space with its layer-2 scaling network on Ethereum. By combining the security of Ethereum with fast, cost-effective transactions, Immutable X is attracting numerous NFT marketplaces and game developers. Significant investments and partnerships, like the one with Polygon for the zkEVM scaling network, highlight its growing influence. As the IMX token rises in value, Immutable X continues to enhance its platform, promising an exciting future for decentralized gaming.<h2 style="margin-left:0in;text-align:justify;">FAQ</h2><h3 style="margin-left:0in;text-align:justify;">What is Immutable?</h3>Immutable is a prominent Web3 firm known for developing blockchain technologies and publishing games within the decentralized gaming space. It is the creator of Immutable X, a layer-2 scaling network built on Ethereum.<h3 style="margin-left:0in;text-align:justify;">What is Immutable X and how does it work?</h3>Immutable X is a layer-2 scaling network built on Ethereum, designed to improve transaction speed and reduce costs compared to the Ethereum mainnet. It leverages ZK rollup technology to bundle transactions, enabling fast and fee-less transactions for users.<h3 style="margin-left:0in;text-align:justify;">What is Immutable zkEVM and how does it relate to Immutable X?</h3>Immutable zkEVM is a scaling network developed in partnership with Polygon, integrating zkEVM technology with Immutable’s gaming platform. This collaboration aims to enhance scalability and compatibility with Ethereum Virtual Machine (EVM) smart contracts, simplifying development processes for game developers.

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Immutable X is revolutionizing the Web3 gaming space with its layer-2 scaling network on Ethereum. By combining the security of Ethereum with fast, cost-effective transactions, Immutable X is attracting numerous NFT marketplaces and game developers. Significant investments and partnerships, like the one with Polygon for the zkEVM scaling network, highlight its growing influence. As the IMX token rises in value, Immutable X continues to enhance its platform, promising an exciting future for decentralized gaming.