Immutable X
About Immutable X
The price of Immutable X (IMX) is $1.23 today, as of Sep 16 08:20 p.m., with a 24-hour trading volume of $56.43M. Over the last 24 hours, the price has decreased by -6.65%. Immutable X currently has a circulating supply of 1.61B and a market cap of $1.98B.
Immutable X (IMX) is the native token of an NFT (non-fungible token) marketplace that operates as a layer 2 network tool for the Ethereum blockchain. It uses zero-knowledge proof technology to offer low fees, high speeds and scalability – the ability to process more transactions without slowing down.
The Immutable X token started trading in late 2021 following an initial exchange offering (IEO) on the Huobi Global exchange, two initial coin offerings and private sales. IMX has a maximum, fixed supply of 2 billion tokens.
Tokens sold for 16 cents on Huobi at the beginning, and then shot up to about $3 shortly after that. The price kept rising for about a month, peaking at $9.50 with a market cap of $1.75 billion in November 2021. Then came a crash, and IMX spent the next six months trading at about $1.50 to $5.
Its token sales, which sold off just under 20% of the supply, were a big success. In September 2021, an ICO on CoinList raised $12.5 million in less than an hour. And in a Series B funding round, Immutable raised $60 million from top venture capital and trading firms like Alameda Research, Galaxy Interactive and Bitkraft.
While most tokens were released shortly after the launch, the tokens from the private sale were scheduled to be unlocked over 18 months following a one-year cliff. Immutable X has earmarked the rest of the supply to jump-start the network, reward loyal users and develop the protocol.