Godfrey Benjamin
Immutable (IMX) goes parabolic, here’s reason for its 102% monthly surge
Immutable (IMX) has extended its gains after printing a massive 27% surge over the past 24 hours to $1.15. Notably, Immutable is exhibiting very strong volatility at this time as the bears are making plans to force prices below the $1 support level. This intense volatility is bearing positively on the trading volume, which has soared by 288% to $305,246,476.
Immutable is not new to wild price fluctuations, but this time around, the growth is powered by the announcement featuring the protocol joining forces with Ubisoft Strategic Innovation Lab. Though this partnership was unveiled earlier in the week, it has formed the basis for the persistent rally IMX has printed thus far.
Per CoinMarketCap’s data, IMX is up by 58.45% in the trailing seven-day period, a continuation of the monthly build-up where its growth has extended by over 102%.
As revealed, the Ubisoft partnership will see the duo create a new gaming experience dedicated specifically to players in the Web3.0 ecosystem. Built as a blockchain to harbor innovative games, Immutable has a rich history of partnering with industry giants to advance its capabilities. With this partnership, Immutable can further ride on Ubisoft’s wings to tighten its grip as the dominant leader in the Web3.0 gaming space.
Bringing new perspective to L2s
One important selling point for Immutable is that it brings a whole new perspective to the Layer-2 ecosystem on Ethereum.
While its peers like Optimism, Arbitrum and Polygon are focused on powering a broader range of Decentralized Finance (DeFi) applications through the proprietary zk-Rollup or Optimistic Rollup technologies, Immutable pioneered providing support for non-fungible tokens (NFTs) using Stark’s zk-Rollup tech.
Since its inception, Immutable has garnered a significant following and dedicated community, complemented by related strategic partnerships, all evident in its price action.
