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- ImmutableX (IMX), an Ethereum-based gaming altcoin, witnessed a 20% surge in its price as a crypto whale moved a substantial amount of IMX tokens off Binance.
- ImmutableX is making waves not just in price surges but in enhancing the gaming experience by eliminating gas fees for players using Immutable zkEVM and Immutable Passport.
An Ethereum (ETH)-based gaming altcoin, ImmutableX (IMX), experienced a notable surge as a significant amount of the project’s tokens were swiftly moved off an exchange by a crypto whale, according to on-chain data.
Blockchain tracking firm Lookonchain reported a 20% increase in the price of IMX on the day of the whale’s substantial transactions. The data revealed that three wallets, likely belonging to the same whale, withdrew 4.3 million IMX ($9.6 million) from Binance on Monday.
The whale in question possesses six related wallets and currently holds a total of approximately 40.54 million IMX ($90.8 million). As of press time, ImmutableX’s native crypto IMX is trading 5% up at $2.11. Over the last week itself, ImmutableX price is up by a staggering 50% making it one of the best-performing altcoins in 2023.
Market analysts are bullish for IMX, going ahead over and above the five-year horizon. In the year 2030, various forecasting models provide significantly divergent projections for IMX.
On the bearish side, Coincodex anticipates a low price of $2.29, with a high-end prediction reaching $9.18. In contrast, priceprediction.net foresees IMX attaining a maximum price value of $24.99, accompanied by an average prediction of $21.03.
About ImmutableX
Immutable has positioned itself as a pioneering layer-two scaling solution for Ethereum-based NFTs, with IMX serving as the native token on the Immutable X blockchain, focused specifically on gaming and NFT markets. Immutable X has established itself as a prominent blockchain for Web3 gaming, powering NFTs and in-game transactions for titles like Gods Unchained and Guild of Guardians.
The platform’s exclusive concentration on gaming and NFTs has attracted projects from other chains, such as Tatsumeeko and Star Heroes, previously hosted on Terra. Following the collapse of Luna stablecoin in 2022, Immutable gained favor, leading to migrations from projects like Delysium and Ember Sword from Polygon to Immutable.
In a recent development, Immutable sealed a significant partnership with Ubisoft, a gaming giant known for blockbuster franchises like Assassin’s Creed and Prince of Persia. The announcement of the Ubisoft partnership on November 9 triggered a market rally for Immutable’s native token IMX, resulting in a notable price surge of over 40% in the past week.
ImmutableX Makes zkEVM Free for Gamers
ImmutableX is making significant strides in enhancing the gaming experience by introducing gas-free transactions for gamers on Immutable zkEVM. In an exciting development, ImmutableX has proudly announced the elimination of gas fees for players utilizing Immutable zkEVM and Immutable Passport. This groundbreaking initiative also ensures a seamless and disruption-free gaming experience, allowing games and marketplaces on Immutable zkEVM to cover gas fees for Immutable Passport users.
Immutable zkEVM is gas-free for gamers!
Gas Fees? Zero.
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— Immutable (@Immutable) December 13, 2023
Powered by @0xPolygonLabs, Immutable zkEVM will revolutionize the gaming landscape by removing the primary friction point associated with gas fees. This means that gamers using Immutable Passport can engage in various activities such as playing games, trading assets, and participating in the in-game economy without encountering the complexities of gas fees.
The move further addresses a common challenge of high gas fees faced by developers in the web3 gaming space. Immutable’s commitment to overcoming these hurdles reflects its dedication to ensuring that gas fees are no longer a hindrance for gamers opting to play on Immutable zkEVM. This strategic initiative is poised to contribute to the broader success and adoption of web3 games by prioritizing user-friendly transactions and reducing barriers to entry.