CryptoMediaClub
Friday, August 1, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Immutable Outperforms The Market As IMX is Up 12% In 7 Days

30.08.2024
A A
0
120
VIEWS
ShareShare

The Immutable price has dropped by 2% in the past 24 hours, falling to $1.45 as the crypto market suffers a comparable 1.5% loss today.

However, IMX has held on to a 12% increase in the last seven days, while it has also outperformed the market in the past fortnight, with a 27% jump.

These gains bode well for the layer-two coin, which is also up by 155% in the past year, on the back of ImmutableX’s growth as a platform for Web3 gaming.

And with the market likely to enter more bullish territory in the next couple of months, we could see the Immutable price recover strongly very soon.

Immutable Outperforms The Market As IMX is Up 12% In 7 Days

Immutable remains in a strong position as far as its chart and indicators are concerned, suggesting that more gains may be coming in the near term, before a possible correction.

For instance, its 30-period moving average (orange) has remained above its 200-period average (blue) for over a week now, and despite a dip a couple of days ago it has resumed rising.

Immutable price chart.
Source: TradingView

This suggests ongoing momentum, and while IMX’s relative strength index (purple) has also waned a little in the past few days it has returned to 50 today.

This puts it in a good position to return to growth soon, and with the coin’s resistance (red) and support (green) levels converging on each other, we may see a breakout of sorts in the next few days.

And for some analysts, its medium-term decline since the end of July prepares it for a big rebound in the next month or so (not to mention its decline since mid-March).

$IMX
Plan. pic.twitter.com/OWvJkxuOC2

— Nihilus (@nihilus_XBT) August 20, 2024

This seems like a reasonable analysis, with the all-but certain likelihood of rate cuts next month likely to increase market positivity.

This will boost prices of most cryptos, with coins that have stronger fundamentals likely to benefit more than others.

And it’s arguable that Immutable has some of the strongest fundamentals in the market, with its L2-based Web3 gaming platform now having hundreds of thousands of active users per month.

Data hub Token Terminal also posted on August 27 that Immutable has the fourth-biggest smart contract in crypto, in terms of the number of unique addresses interacting with it.

Top 5 contracts in crypto, based on interactions from unique addresses in the past 30d:
1. Tron, Tether
2. Base, Uniswap
3. BNB Chain, Tether
4. Immutable zkEVM, BitGem
5. Aptos, Chingari
All 5 from different chains! pic.twitter.com/lLrWz076WD

— Token Terminal (@tokenterminal) August 27, 2024

As such, it would seem hard to believe that the Immutable price will remain down for long.

It could return to $2 by the end of the year, before reaching $4 by Q2 2025.

Strengthening Portfolios with Small-Cap Alts

While IMX is a solid coin in terms of its utility and fundamentals, it does remain down by 85% in relation to its ATH of $9.52, set back in November 2021.

Traders may have to wait several months (if not longer) for it to mount a substantial recovery, in which case they may also consider diversifying their portfolios into newer altcoins.

Most new altcoins are of dubious quality, but one way of identifying those with more potential is to look for new tokens that have had successful presales.

One coin having a successful sale is Shiba Shootout (SHIBASHOOT), a new Ethereum-based crypto that has raised over $1 million in its token offering.

#SHIBASHOOT to the moon! 🌕🚀
We've just crossed the $1M mark! 💰
The momentum is incredible! 🌟
Huge thanks to our amazing community! 🙌 pic.twitter.com/ZkVaJSCioA

— shibashootout (@shibashootout) August 22, 2024

Shiba Shootout is turning heads because of how it mixes familiar Shiba Inu memes with Wild West motifs.

It’s in the process of building a community centered around participation in mini-games and contests, including poker tournaments, lotteries and virtual treasure hunts.

By offering rewards in SHIBASHOOT to successful participants, the project will incentivize greater engagement in its ecosystem and, by extension, greater SHIBASHOOT ownership.

Also incentivizing ownership and engagement will be the fact that holders of SHIBASHOOT will be able to participate in governance votes, while also staking the token.

The coin will have a max supply of 2.2 billion SHIBASHOOT, with its presale receiving 35% of this supply and staking 20%.

You can join its presale via the official Shiba Shootout website, where 1 SHIBASHOOT token now costs $0.02

This price will rise with each successive stage of the sale, while it could rally massively once it lists on trading platforms in the next few months.

Buy SHIBASHOOT Now

The post Immutable Outperforms The Market As IMX is Up 12% In 7 Days appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

Visa Expands Crypto Capabilities of Its DLT Platform
All news

Visa Expands Crypto Capabilities of Its DLT Platform

01.08.2025
0

Visa integrated three new stablecoins into its payment DLT platform and increased the number of supported blockchains to four. Financial...

Read moreDetails
WEPE Pullback Finds Strong Support Before New Test of Resistance at $0.0001249

WEPE Pullback Finds Strong Support Before New Test of Resistance at $0.0001249

01.08.2025
Tourists in South Korea to Exchange USDT via Crypto ATMs

Tourists in South Korea to Exchange USDT via Crypto ATMs

01.08.2025
BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

01.08.2025
23% of CFOs in North America Ready to Implement Crypto

23% of CFOs in North America Ready to Implement Crypto

01.08.2025
Load More
Next Post
Over $1.2 Billion in Crypto Stolen in 2024

Over $1.2 Billion in Crypto Stolen in 2024

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Nebraska Governor Says State “Open for Companies” in Crypto Area, Enacts Crypto ATM Invoice

Nebraska Governor Says State “Open for Companies” in Crypto Area, Enacts Crypto ATM Invoice

5 months ago
Bitcoin Revolution: Coinbase CEO’s Daring Imaginative and prescient for US Strategic Reserve

Bitcoin Revolution: Coinbase CEO’s Daring Imaginative and prescient for US Strategic Reserve

5 months ago
PEPE Whales Accumulate Amid Market Volatility: Is a 200x Rally Coming?

PEPE Whales Accumulate Amid Market Volatility: Is a 200x Rally Coming?

4 weeks ago
Bitcoin price sets up for an explosive move as ADA, XLM, AAVE and CFX turn bullish

Bitcoin price sets up for an explosive move as ADA, XLM, AAVE and CFX turn bullish

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

BlackRock’s BUIDL fund hit by $447M outflow after 18-month record breaking $2.8B inflow

23% of CFOs in North America Ready to Implement Crypto

Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

Altcoins lead crash as $751M liquidated in last 24 hours and Bitcoin falls to July low

Trump Tariffs Return — What Does It Mean for Bitcoin, Ether, XRP, Crypto?

Trending

Visa Expands Crypto Capabilities of Its DLT Platform
All news

Visa Expands Crypto Capabilities of Its DLT Platform

01.08.2025
0

Visa integrated three new stablecoins into its payment DLT platform and increased the number of supported blockchains...

WEPE Pullback Finds Strong Support Before New Test of Resistance at $0.0001249

WEPE Pullback Finds Strong Support Before New Test of Resistance at $0.0001249

01.08.2025
Tourists in South Korea to Exchange USDT via Crypto ATMs

Tourists in South Korea to Exchange USDT via Crypto ATMs

01.08.2025
BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

01.08.2025
BlackRock’s BUIDL fund hit by $447M outflow after 18-month record breaking $2.8B inflow

BlackRock’s BUIDL fund hit by $447M outflow after 18-month record breaking $2.8B inflow

01.08.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz