What's Going On With ImmutableX, The NFT Platform's Token Is Surging 35% Today While Bitcoin, Ethereum, Dogecoin Trail
Portfolio Pulse from Mehab Qureshi
The native token of the non-fungible tokens (NFT) platform ImmutableX, known as IMX, surged by 34% on Thursday, led by South Korean traders. Major cryptocurrencies like Bitcoin, Ether, and Dogecoin traded slightly lower. The surge in IMX trading volume, which increased by over 2000%, can be attributed to growing interest and investment in IMX. Upbit, a particular exchange, showcased noteworthy volume growth in IMX trading.
September 21, 2023 | 6:35 am
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NEGATIVE IMPACT
Bitcoin traded slightly lower, ranging from 0.5% to 1%.
The news of IMX's surge might have led to a shift in investor interest from Bitcoin to IMX, causing a slight decrease in Bitcoin's price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Dogecoin traded slightly lower, ranging from 0.5% to 1%.
The news of IMX's surge might have led to a shift in investor interest from Dogecoin to IMX, causing a slight decrease in Dogecoin's price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ether traded slightly lower, ranging from 0.5% to 1%.
The news of IMX's surge might have led to a shift in investor interest from Ether to IMX, causing a slight decrease in Ether's price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
IMX surged by 34% on Thursday, led by South Korean traders. The surge in IMX trading volume, which increased by over 2000%, can be attributed to growing interest and investment in IMX.
The surge in IMX's price is directly related to the growing interest and investment in IMX, particularly from South Korean traders. This has led to a significant increase in IMX's trading volume.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100