IMX: Bulls Rout Bears With 10% Gain This Week

Cryptocurrency games are creating Come back with Immutable leading the way. This has led to IMX, the platform’s native token, sending strong bullish signals, giving investors and traders a solid 10% gain since last week.

The move has been supported by increased activity on the Immutable network itself, with more than its fair share of game announcements since last week. Hype aside, Immutable is now solidifying its position in the crypto gaming industry.

Breaking News for the Crypto-Gaming Industry

Immutable’s platform for the crypto gaming industry has proven its effectiveness. active With over 200 members on the list, its growth continues to attract more developers to create games on Immutable.

Immortal Rising 2 was recently announced that it will be released on Immutable, which will bring more attention to the platform with Planetarium Labs CEO and founder JC Kim stating In a recent interview, he said he was “excited to join forces with Immutable,” which will help them provide users with “cutting-edge gaming experiences.”

“We are excited to join forces with Immutable to create Immortal Rising 2. This partnership marks an important milestone in our mission to deliver cutting-edge gaming experiences,” Planetarium Labs CEO and founder JC Kim said in a recent interview. interview.

This move was made after Immortal Rising 2 success in South Korea and the global gaming market with over 2 million downloads and $24 million in revenue. Listing a great game on Immutable will bring in more than enough capital to improve its systems. Immortal Rising will be holding a second closed beta with evaluations starting today, July 23, for CBT applicants.

Another sensation for Immutable is the recent Blog Post which was released today. According to their metrics, there are currently over 380 games in development on the Immutable platform. They also boasted that the platform’s 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 indication that, industry-wide, Immutable is a trusted platform for developers, giving investors and traders confidence that IMX is a worthwhile investment.

Will your portfolio be evergreen?

The current position of IMX is somewhat unstable and safe at the same time. The support level of $1,458 has been holding since the end of June, but the resistance of $1,706 has also held its ground against the bulls. If the bulls have a chance to break through $1,706, any serious market action taken by the leading cryptocurrencies could affect the price for both good and bad.

However, if the bulls can break through $1,706, they will have the road open to ~$2. With this in mind, investors and traders should wait for any signs that today’s market decline is temporary and not a prelude to worse.

However, given the positive blockchain news that has come out this month, there is a chance that IMX will buck the market downturn and continue its rally.

Main image from Bloomberg, chart from TradingView

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