#ProjectCrypto Why is the price of $IMX rising?
Immutable (IMX) increased by 4.28% in 24 hours due to the momentum of the GameFi sector, signs of accumulation by large investors (whales), and the maintenance of technical support, despite the risks posed by the upcoming token unlock.
1. The resurgence of GameFi drives the demand for IMX as a leading token in gaming and layer 2 (L2).
2. The defense of a key support level between $0.48 and $0.50 attracts buyers on dips.
3. The upcoming token unlock worth $13 million on August 8 moderates the bullish momentum.
#MarketPullback The 4.28% gain in 24 hours reflects the rotation towards GameFi and the technical strength of IMX, although the unlocking of 24.52 million tokens (valued at $13 million) on August 8 could generate short-term volatility. It is important to monitor sustained closes above $0.535 (50% Fib) to confirm bullish momentum.
Can the adoption of IMX in GameFi offset the selling pressure that the token unlock will generate?
