A staggering 45% surge in just 24 hours—can you believe it?
The IMX token, tied to Immutable’s Layer-2 platform, skyrocketed on April 23, 2025, with gains reported between 42% and 56%.
Imagine this: traders hunched over screens, the glow of green candlestick charts reflecting in wide eyes, as IMX hit an intraday high of $0.69, a peak not seen since late March.
Trading volume? It exploded by over 760%, reaching a hefty $406 million.
Market cap climbed to around $1.2 billion, making IMX the top gainer among the big 100 cryptocurrencies.
Is this just hype, or something deeper?
Is IMX’s meteoric rise pure hype, or does it signal a seismic shift in crypto and gaming’s future? Let’s dig deeper.
Dig into the buzz, and whispers of a “multibillion-dollar partnership” teased by co-founder Robbie Ferguson emerge.
Two years in the making, it’s now confirmed as Ubisoft, joining hands for “Might & Magic: Fates,” a web3 game on Immutable zkEVM.
Digital asset ownership enables players to truly own and trade their in-game items, marking a shift from traditional publisher-controlled gaming.
Imagine old-school gamers scratching heads at “web3,” while new-gen players plunge into NFT-powered battles.
Add to that a broader crypto rally—Bitcoin soared past $93,000—and positive news like the SEC dropping its probe into Immutable.
Even hints of easing US-China trade tensions fueled the fire.
It’s like watching a dusty arcade machine suddenly light up with neon flair.
Immutable’s ecosystem is no slouch either.
Monthly Active Users on zkEVM spiked by 619%, with 344 new games onboarded in a year.
Their Passport wallet hit 5 million sign-ups.
NFT sales? Up 2.4% to $24.6 million.
This momentum is further boosted by a staggering trading volume surge of over 760% to $432 million in just 24 hours.
It’s as if developers and players smelled opportunity, like fresh pizza at a LAN party.
This surge also aligns with altcoins like SUI and VIRTUAL posting massive gains, reflecting a broader bullish sentiment.
Yet, skepticism lingers—can this last?
The derivatives market saw open interest jump 96% to $54.4 million, and “whale” transactions surged from under 10 to 57 in a day.
Bullish, sure, but the RSI at 85 screams “overbought.”
Is this a rocket or a firework?
Technically, IMX broke its 50-day average, with MACD lines hinting at momentum.
The Supertrend flipped green—a bullish wink.
But as old-timers mutter about bubbles, and newbies bet big, one wonders: will IMX redefine gaming, or just be a flashy glitch in crypto’s matrix?
Only time will tell.
