Immutable X (IMX) Price Surges 15% on Upbit Listing Announcement

Immutable X Surge
Summary: Immutable X ($IMX) has experienced a 15% increase in price to $0.7914, its highest level since May 6. The token's market cap has increased by over 18% due to increased trading activity. Upbit's announcement of including $IMX in its Korean Won market sparked the price movement. $IMX has increased by over 58% since its low point in June.

The price of Immutable X ($IMX), soared by about 15% to $0.7914, its highest level since May 6. Moreover, the IMX token’s market cap has increased by more than 18% due to its increased trading activity. An announcement by the South Korean cryptocurrency exchange Upbit that it will include $IMX in its Korean Won market sparked the price movement.

Bullish Momentum

Even if the cryptocurrency market is in a consolidation period at the moment, $IMX has increased by more than 58% from its low point in June of this year. Trading in $IMX began on Upbit at 4:00 UTC on July 28, and the exchange initially only allowed deposits of $IMX from the Ethereum network. This significant event catalyzed the token’s stratospheric ascent.

Immutable X is an NFT minting and trading platform that also provides APIs and tools for making NFT and Web3 games. Its native token, $IMX, serves as both a governance and utility token for paying fees within the ecosystem, and it also enables token holders to stake $IMX and take part in governance decisions.

Yet Another Boost

The $IMX price was also influenced by yet another encouraging news. The company announced a partnership with Helika Analytics. The arrangement is expected to greatly increase the utility of the Immutable ecosystem by allowing its creators to utilize Helika’s no-code tools for in-depth analysis.

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Naseem Sheikh