According to TokenInsight data, the Immutable X ($IMX) price went up by 28.95% over the last 24 hours, trading at $0.707053 now. In addition, the price of $IMX went up by 20.65% in the last hour.
Immutable X operates as a Layer 2 scaling solution for NFTs on the Ethereum blockchain. Utilizing zk rollup technology, Immutable X aims to solve high gas fee and scalability concerns when minting and trading NFTs.
$IMX is an ERC-20 utility and governance token used to pay for transaction fees and incentivize users and developers on Immutable X. Token holders can earn rewards through staking and participating in the platform's governance.
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