The value of Immutable X (IMX) went parabolic on Friday despite the fact that the cryptocurrency market was still in a consolidation phase. The token increased by more than 20%, peaking at $0.9290, its highest level since May 6. From its lowest point in June of this year, it has increased overall by more than 58%.
Immutable X’s new alliances
One of the world’s top blockchains for gaming and non-fungible tokens (NFT) is Immutable X. It is a layer-2 community that assists in resolving several of the key issues in Ethereum’s ecosystem. Some of these difficulties include higher costs and sluggish transaction speeds within the community.
Its native token, IMX, increased on Friday, making it the trade’s top-performing cryptocurrency. Due to the growing relationships within the community, this rally took place. The developers unveiled a new collaboration with Helika Analytics on Thursday night. Creators within the ecosystem will use its no-code tools for in-depth evaluation as a result of the agreement.
Meanwhile, Ef Protection, a developer who uses immutable tools, declared its commitment to the immutable zkEVM tool. The CEO of Limitless Frontier said in a news release that the company had over 30 million downloads, generating over $80 million in revenue. Added him:
I believe that working with Immutable will provide us the chance to gain priceless knowledge about how to market web3 games in many genres, interact with users, and continue platform development.
The claim was made one day after Immutable disclosed that the pipeline of video games in its ecosystem was now worth more than $2.5 billion. This happened following the developer’s announcement of a completely new agreement with Polygon.
IMX worth forecast.
The 4H chart shows that Immutable X’s coin value had a significant recovery during a single day session. It rose to a high of $0.9296 during this rally, a significant improvement over the previous month’s low of $0.5584. At $0.8420, the highest point in June, it crossed the critical resistance level.
The token has also climbed above the 25-day and 50-day moving averages, and the Relative Power Index (RSI) has risen to overbought territory. As a result, it appears that the token will drop and retest the support at $0.80.
Continued token auction for AltSignals
Another crucial piece of crypto knowledge is that AltSignals‘ token sale gained traction this week as a result of the developers raising more than $1.2 million. This amount reflects roughly 54% of all the tokens that are now available because stage 2’s goal is to raise $2.25 million.
To begin with, AltSignals is a company that aims to integrate artificial intelligence into the financial market. The creators will upgrade an existing valuable product to one that uses machine learning, neural language processing (NLP), and AI. Here, you can read more about the excellent white paper.
Additionally, the current platform will change from a centralized one to a fully decentralized one once it is fully utilized. Owners of $CHANCER tokens will be able to vote on this to determine important community decisions. Even profit-sharing systems will exist within the community.
The ASI token can be purchased for two main reasons. In the second round of the sale, the token’s value will first likely increase by 12%. This suggests that you would be able to buy more tokens right now.
Second, the demand for shares and tokens in the AI market may be steadily increasing. Intel, AMD, Nvidia, SingularityNET, and Fetch.ai are superb examples of that. These items have all increased in value during the last few months.
Third, the Fed set what is likely to be the year’s final interest rate. This decision may lead to other cryptocurrency favorable elements later this year.
