Immutable Received SEC Wells Notice, IMX Token Faces Multiple Challenges
Blockchain gaming company Immutable publicly responded on November 1 to the Wells Notice issued by the U.S. Securities and Exchange Commission (SEC), emphasizing that its token IMX is not a security and expressing dissatisfaction with the SEC's enforcement approach. Compared to Ripple's strong counterattack, Immutable's voice seems futile, unable to prevent the continuous decline of IMX prices. In March of this year, the price of IMX soared to $3.76, but it has now dropped nearly 68%, currently reported at $1.17.
The trend of IMX is astonishingly similar to that of Uniswap, which saw a significant drop after receiving a Wells Notice, reaching a nearly three-year low. This year's market situation indicates that IMX may also fall to $0.5, facing another opportunity for rebound.
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