Immutable ($IMX) just had a big day, shooting up by 47% in the last 24 hours. It’s now trading at $0.6719, with a market cap of $1.22 billion. Over the past week, it’s been on a roll, climbing 61.93%, and it’s even up 3.59% this month.
What’s crazy is the 24-hour volume, hitting a huge $442.81 million, up a massive 820.86%.
So what’s behind this rise?
Immutable’s impressive rise in the past 24 hours comes after some exciting news from co-founder Robbie Ferguson.
Yesterday, he tweeted that Immutable would soon announce the outcome of a multibillion-dollar partnership that’s been in the works for over two years. This announcement has created a lot of anticipation, and the market response has been immediate, with $IMX surging to $0.6405.
Immutable is pretty much leading the way as a layer-two solution for NFTs on Ethereum. It’s solving some of Ethereum’s biggest issues, like low scalability, slow transaction speeds, and those annoying gas fees. On Immutable, you can mint and trade NFTs with zero gas fees, and it’s fast, scalable, and secure.
The wider crypto market has been bouncing back recently, thanks to some big news. Paul Atkins was sworn in as the new SEC Chair, and that’s been fueling a lot of bullish sentiment across the board.
Following that, Bitcoin shot past $93,000, and Ethereum surged above $1,800, which pushed the global crypto market cap to $2.94 trillion, a 6.24% rise in just one day.
With all this momentum, Immutable is really riding the wave. It’s clear investors are seeing the potential in the NFT space, and the recent pump proves it.
Also Read: $NEIRO Price Explodes 100% as Bitcoin Crosses $93K Mark
