The price of the native token of the layer-2 scaling solution Immutable X – IMX – has skyrocketed by over 35% in the past 24 hours.
The reason behind the impressive increase remains unknown. However, Lookonchain observed that some investors had accumulated substantial amounts of the asset.
IMX has recently jumped above $0.76, a valuation last seen at the beginning of August. The coin slightly retraced in the past few hours and currently stands at around $0.71 (per CoinGecko’s data).
IMX Price, Source: CoinGecko
While the exact factors boosting the price remain undiscovered, the Web3 data analysis tool Lookonchain outlined that several Upbit wallets gobbled up millions of dollars worth of IMX.
1/ The price of $IMX skyrocketed by 35% today.
We noticed that #Upbit wallets were accumulating $IMX.
And investors/institutions were depositing $IMX to exchanges after the price increase. pic.twitter.com/brWNourpoi
— Lookonchain (@lookonchain) September 21, 2023
One investor accumulated a
We współpracy z: https://cryptopotato.com/immutablex-imx-explodes-35-daily-heres-why/
