Coinspeaker
What’s Behind 15% Immutable (IMX) Price Rally Today?
Immutable native cryptocurrency IMX is up by 15% today after it announced that the U.S. Securities and Exchange Commission (SEC) has closed the investigation and would no longer pursue legal actions ahead.
As a result, the Immutable price made quick gains all the way to $0.737, with its market cap surging to $1.37 billion, and daily trading volume jumping 120% to more than $120 million. This strong bullish momentum comes soon after
With today’s surge, IMX has recovered almost all of its losses over the past month. Thus, the Immutable cryptocurrency reached its highest levels since March 3, just before the broader crypto market downturn. US President Donald Trump’s tariffs and rising macro uncertainty pushed the Immutable price lower to $0.46.
As of press time, IMX has retraced to $0.67, however, a climb back to $0.70 could liquidate approximately $449,500 in short positions, as per CoinGlass data.
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