• ImmutableX (IMX) has seen a surge in its price and is currently trading at $1.16 with a market cap of over $896 million.
• This rise in price is attributed to the success of Cross The Ages NFT collection launch, as well as the introduction of the Immutable Passport on the network.
• Analysts predict that if the bullish momentum continues, IMX could reach higher levels in the coming days and weeks.
Overview of IMX Price Surge
ImmutableX (IMX) has returned to its $1 level today after a slight retracement on February 13 to $0.9696. It has been trading at an impressive volume of 161% and holds a market cap above $896 million, making it rank 54 in the crypto market.
What Is Driving IMX Price Surge?
The surge in IMX’s price is due to several positive developments taking place within its ecosystem. Positive news often attracts more investors who purchase an asset, leading to increased demand and higher prices for that asset. On the other hand, negative news can also cause panic selling or shorting which leads to excess supply and lower prices for that asset.
Cross The Ages NFT Collection Records Outstanding Success
Cross The Ages, a blockchain-based trading card game, officially launched its first NFT collection on ImmutableX’s marketplace which was met with stellar success – selling 750 thousand NFTs within 24 hours! A Golden Legacy Pack – one of the rarest packs – sold for $57000 on day three of its launch with Richard Détente – co-founder of Grand Angle Meta (GAM) – being the purchaser. The launch has surely created much buzz amongst users which will likely lead to greater interest being generated towards this Web3 innovation on Immutablex’s network.
Immutable Passport Introduced On Network
Recently, Immutablex introduced an innovative concept called ‘Immutable passport’ which will allow users access to Web3 games offered by them . This Non-custodial wallet connects users easily between different gaming services provided by them so gamers have access to their funds across several games offered by them securely without having any third party involved or being able to access their funds themselves without user permission being granted first .
Analysts believe that if bullish sentiment prevails then IMX could experience further gains in upcoming days/weeks ahead and investors should keep an eye out for such news/events happening around this digital asset .