Cryptocurrency Immutable Down More Than 5% Within 24 hours
Portfolio Pulse from Benzinga Insights
Immutable's cryptocurrency, IMX, has seen a 5.22% decrease in price over the last 24 hours, now at $3.16, contrasting with a 1.0% gain over the past week. Trading volume has decreased by 20%, while the circulating supply increased by 2.02%, reaching 1.39 billion. IMX's market cap ranks it 24th at $4.35 billion.
February 23, 2024 | 3:02 pm
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NEGATIVE IMPACT
Immutable's IMXUSD experienced a 5.22% decrease in price to $3.16 over the last 24 hours, despite a slight gain over the past week. The trading volume has decreased by 20%, and the circulating supply has increased, affecting its market cap ranking.
The short-term price drop of 5.22% in IMXUSD is significant, indicating a potential bearish sentiment among investors. The decrease in trading volume suggests less market activity, which could further impact the price negatively. However, the increase in circulating supply and a slight gain over the past week provide a mixed outlook, making the short-term impact predominantly negative but with potential for recovery.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100