ImmutableX (IMX) was the top gainer this week out of the top 50 coins by market capitalization, rising more than 34%. This surge in price followed the listing of IMX/KRW on South Korea’s leading crypto exchange Upbit.
At its peak, IMX nearly reached $0.78, its highest level since August 2. The listing on Upbit appears to have been the catalyst for the buying pressure. Immutable is an ecosystem designed for web3 gaming, which has seen some decent traction over the past few months due to the launch of the Immutable zkEVM Testnet.
The rise of IMX this week was further supported by deposits to exchanges from top blockchain gaming company Animoca Brands. However, the altcoin is currently seeing some downside pressure as investors take profits, trading around $0.65 on major exchanges.
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Categories: Cryptocurrency
Tags: IMX, Upbit, Immutable, zkEVM Testnet, Animoca Brands
