Immutable X (IMX)
Immutable X is a layer 2 scalability solution for NFTs on Ethereum, offering instant transactions and no fees. While NFTs have experienced periods of boom and bust, projects like Immutable X that build the underlying infrastructure have the potential for long-term growth.
What to look for? The key factor for IMX is its adoption by developers and gaming projects. News about new partnerships with video game studios or the launch of popular titles on its platform are important growth catalysts. An increase in network metrics, such as the number of transactions and NFT trading volume, would indicate growing adoption. From a technical perspective, one can look for a 'rounded bottom' pattern or a steady increase in the token's price after a period of low volatility, suggesting quiet accumulation by investors.