ImmutableX
$IMX
9 Results
ETH Touches $3k as Tailwinds Align, Ethena Launch Generates Both Fanfare and Concern
Equity markets are under pressure this morning, with the QQQ and SPX indices dropping over 1% and approximately 0.70%, respectively. This downturn occurs amidst a backdrop of a declining DXY and lower rates, underscoring a continued decoupling between risk assets and the bond market since early January. The crypto market is also experiencing a pullback, following Bitcoin's premarket attempt to surpass the $53k mark and Ethereum's notable weekend achievement of...
Monday morning picked up right where yesterday left off, with BTC -1.63% surging toward $50k, momentarily touching the key level across several exchanges. The rally appears to be driven by spot market demand, as evidenced by a significant spike in spot volume while funding rates remain muted (see chart below). A substantial portion of this volume is likely entering the market via spot ETFs chasing the positive weekend price action. Concurrently,...
WEEKLY RECAP After multiple weeks of total funding near $300 million, things have cooled slightly, with this week’s total falling to $155 million across 19 deals. Metaverse & Gaming was the leading category due to a $100 million fundraise by MapleStory Universe, our Deal of the Week. Infrastructure was the most popular category from a deal count perspective, tallying eight deals totaling $14 million. Seed rounds were the most common...
Liquidations Wipe Out $2.7 billion in OI, IMX Breakout Strengthens its Technical Picture
On Sunday evening, the perps market experienced a low liquidity liquidation cascade, eliminating about $2.7 billion in open interest (source: CoinGlass) across all coins. We interpret this as a healthy purge of some overleveraged traders, and any immediate market weakness should be viewed as an opportunity to buy on dips. BTC -1.63% found support at last week's low and has since recovered about half of last night's dip. Today, our focus...
JP Morgan Launches Its Tokenized Collateral Network, Circle and Coins.ph Partner in the Philippines
U.S. equity indices are relatively flat today after shaking off hotter-than-expected PPI data (2.2% YoY actual vs. 1.6% expected), with the SPY declining 0.07% and the QQQ rising 0.23%. BTC -1.63% (-2.72%) is on pace for its fourth consecutive negative day, falling to $26.7k. ETH -0.18% is experiencing less of a decline, falling 0.76% to trade at $1,555. Immutable (IMX), a blockchain gaming platform, has announced a partnership with Amazon Web Services...
Cryptoassets and equities swapped roles today as the crypto market received a significant boost during Asian trading hours (more on this below). BTC -1.63% reclaimed its position above $27k, while ETH -0.18% made a strong push toward $1850. Among alts, the performance has been mixed. ETH scaling solutions ARB -6.71% , OP -1.46% , and IMX all experienced gains of over 2% during the day. Meanwhile, the native token of the decentralized GPU rendering platform, RNDR,...
Cumberland Labs helps launch Hashnote and Deloitte looks to launch Sports Metaverse Experience
Markets moved slightly higher this morning, with BTC -1.63% and ETH -0.18% up 0.08% and 0.49% and SPX and NDQ up 0.01% and 0.12% today. This move comes as the dollar (DXY) reverses, down 0.20% today. While most altcoins are flat or slightly down today, there are a couple of standouts. ImmutableX (IMX) is up 9.79% after the Ethereum gaming platform teased an announcement last night on Twitter, and LTC -3.42% has also...
