IMX on the verge of breakout as Immutable onboards new games
Main Idea
Immutable's IMX token is performing well due to a new staking reward system and onboarding of new games, with potential to reach the $0.577 resistance level.
Key Points
1. IMX has risen 20% in the last seven days following the launch of a new staking reward system.
2. The staking system offers biweekly IMX payouts and rewards stakers with 0.2% of the $END token supply.
3. Immutable has over 625 games in the pipeline and is discussing gaming tokens with potential partners.
4. IMX's price is currently at $0.466, with technical indicators suggesting bullish momentum and potential to reach $0.577.
5. Immutable's blockchain recorded $34 million in weekly NFT trading volume, a 21% increase, boosting IMX's utility in the NFT space.
Description
IMX, the native coin of the Immutable blockchain, was one of the best performers among the top 100 cryptocurrencies by market cap in the last 24 hours. By adding nearly 4% to its value, IMX outperformed other major Web3 gaming tokens. The positive performance also paves the way for IMX to test new highs in the coming hours and days. Immutable unveils a new staking reward system, onboards new games IMX has been performing excellently in recent days following some announcements by the Immutable te...
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