Cryptocurrency Immutable Falls More Than 6% In 24 hours
Portfolio Pulse from Benzinga Insights
Immutable's cryptocurrency, IMX, has seen a 6.07% decrease in price over the last 24 hours, now at $1.14, despite a 36% increase over the past week. The trading volume has decreased by 14%, while the circulating supply has risen by 0.35% to 1.25 billion coins. IMX's market cap is currently ranked #44 at $1.42 billion.
November 16, 2023 | 7:00 pm
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IMXUSD has experienced a 6.07% price drop in the last 24 hours, despite a recent uptrend. The decrease in trading volume and increase in circulating supply could indicate a short-term bearish sentiment.
The price drop of 6.07% in IMXUSD is significant, especially following a strong weekly performance. The decline in trading volume typically indicates reduced investor interest, which could lead to further price drops. However, the recent uptrend suggests that the market sentiment has been positive, so the impact may be short-lived. The increase in circulating supply could put additional downward pressure on the price.
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