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Immutable (IMX) teams up with GRAMPUS CWC to bring innovative Web3 games to the Immutable zkEVM platform, advancing digital ownership in gaming. (Read More)
Immutable (IMX) and MARBLEX announce a strategic partnership, aiming to revolutionize Web3 gaming, as discussed at Korea Blockchain Week. (Read More)
On-chain data shows three altcoins are observing a high transaction activity from the whales after the US Federal Reserve (Fed) announced a rate cut. Whale Transaction Count Has Spiked For These Altcoins Recently In a new post on X, the on-chain analytics firm Santiment has discussed the Whale Transaction Count trend for three altcoins. The “Whale Transaction Count” here refers to an indicator that keeps track of the total number of transactions taking place on a given cryptocurrency network that involves a value of more than $100,000. Transfers of this scale are typically associated with whales, the largest entities on the network, so the indicator’s value can provide hints about the current activity from this cohort. Related Reading: Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000 When the value of this metric is high, it means the whales are making a large amount of moves right now. Such a trend implies these humongous holders have an active interest in trading the coin. On the other hand, the indicator having a low value suggests this group may not be paying too much attention to the asset at the moment as they aren’t making that many transfers. Now, here is a chart that shows the trend in the Whale Transaction Count for three altcoins, Immutable X (IMX), Fantom (FTM), and Basic Attention Token (BAT), over the last few weeks: As displayed in the above graph, large spikes in the Whale Transaction Count have been observed for all of these altcoins over the last couple of days. This would suggest that the whales have suddenly become very active on these networks. The timing of the spikes would mean this activity is likely related to the interest rate cut announced by the Fed. While the high values indicate a surge in trading interest from the whales, the Whale Transaction Count alone can’t tell us what sort of trades these humongous investors are making exactly. Buying and selling transactions both look the same from the perspective of the indicator, and thus, carry the same weightage in its count. What can provide hints about whether accumulation or distribution is dominant, though, is the surrounding price action. Bitcoin and the altcoins as a whole, including Immutable X and company, have surged since the Fed announcement, so the increased whale activity could be associated with buying. Related Reading: Will Bitcoin Bullish Swing Continue? Top Analyst Says Yes Naturally, any further spikes in whale activity aren’t necessary to be bullish, but Santiment notes that if Bitcoin and others continue to grow, then these altcoins can also thrive off a high Whale Transaction Count. IMX Price Immutable X has continued the latest bullish push during the last 24 hours with another surge of almost 10%, which has taken its price to $1.58. The below chart shows how the recent performance of IMX has been like. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Learn how to fund your Immutable (IMX) Passport for purchasing in-game assets on Immutable X and zkEVM chains with this detailed guide. (Read More)
Immutable (IMX) records significant growth with 2M Passport signups, new gaming titles, and expansion into Japan in July 2024. (Read More)
The partnership not only boosts GOGs player base but also reinforces YGG's influence in web3 gaming, especially in the Philippines.
Learn how to bridge tokens across different chains using the Immutable (IMX) Toolkit, now integrated with Squid for enhanced functionality. (Read More)
Discover the transformation of gaming through Web3 as Immutable (IMX) Ambassadors share their journeys and insights, highlighting the benefits of true asset ownership. (Read More)
Immutable (IMX)'s integration with Fireblocks will enhance digital asset management for games, builders, and DeFi projects, offering global access to Immutable zkEVM. (Read More)
Immutable teams up with Fireblocks to secure asset management for Web3 games, NFTs and DeFi projects within its ecosystem.
Immutable has wound down its NFT marketplace to allow marketplaces within its ecosystem to flourish.
As players level up and complete dungeons and quests, they receive rewards that can make their Guardians more powerful.
Immutable (IMX) experiences record-breaking growth and significant partnerships in June 2024, including a major migration of NetMarble's MARBLEX platform. (Read More)
Immutable (IMX) Passport hits 1 million sign-ups, revolutionizing web3 gaming with a user-friendly, non-custodial wallet solution. (Read More)
The price of storing data directly on the blockchain is extremely prohibitive for most users, leading to an overreliance on traditional IT.
Crypto gaming is making a comeback with Immutable leading the charge. This led IMX, the native token of the platform, to give strong bullish signals, giving investors and traders a substantial 10% uptick since last week. Related Reading: Early Signs Of Breakout Solana To Explode By 900%, According To Analyst The move was supported by an increase in activity within the Immutable network itself, with more than enough game announcements since last week. Hype aside, Immutable is currently solidifying its position within the crypto gaming industry. Major News For The Crypto Gaming Industry Immutables platform for the crypto gaming industry has been proven effective. With an active roster of over 200+, its growth continues to attract more developers to build games on Immutable. Immortal Rising 2 was recently announced that it will be released on Immutable, bringing more attention to the platform with Planetarium Labs CEO and Founder JC Kim stating in a recent interview hes excited to join forces with Immutable which will help them deliver cutting-edge gaming experiences, for users. We are excited to join forces with Immutable to build Immortal Rising 2. This partnership marks a significant milestone in our mission to deliver cutting-edge gaming experiences, Planetarium Labs CEO and Founder JC Kim said in a recent interview. This move came after Immortal Rising 2s success in South Korea and the global gaming market, with over 2 million downloads and a $24 million revenue. Onboarding a hotshot of a game on Immutable will bring more than enough capital to improve its systems. Immortal Rising will hold a second closed beta test with an evaluation occurring today, July 23rd, for the CBT applicants. Another bombshell for Immutable is from a recent blog post that was released today. According to their metrics, over 380+ games are currently in development on Immutables platform. They also boasted the platforms zero-knowledge Ethereum virtual machine (zkEVM) is one of the fastest growing chains in history with over 2.2 million active users. This is a strong indicator that industry-wise, Immutable has a trustworthy platform for developers to use, thus giving investors and traders confidence that IMX is a worthwhile investment. Will Your Portfolio Be Evergreen? IMXs current position is somewhat unstable and safe at the same time. The $1.458 support level has held since the later part of June, but the $1.706 resistance has also held its ground against the bulls. If the bulls have a chance of getting through $1.706, any major market action done by the top cryptocurrencies could influence the price whether for the better or for worse. Related Reading: Chainlink Inches Closer To $18 Despite Bearish Pressure Analyst However, if the bulls can break through $1.706 they will have an open road toward the ~$2 mark. Keeping this in mind, investors and traders should hold until any sign that the market slippage today is only temporary and not a prelude to worse things to come. But with the positive on-chain news it has this month, there is a chance IMX will go against the grain of a market downturn and continue its rise. Featured image from Bloomberg, chart from TradingView
Immutable (IMX) partners with QAQA and DM2C Studio to introduce web3 gaming to the Japanese market, enhancing digital ownership and gaming experiences. (Read More)
Immutable (IMX)'s Robbie Ferguson discusses the state and future of web3 gaming. (Read More)
Learn how to move your funds from Immutable (IMX) X to Immutable zkEVM with this detailed guide. (Read More)
About $755 million in crypto assets from AltLayer, Arbitrum, Optimism and other projects will be released in July as their vesting period concludes.
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