Immutable ($IMX) had a great day, jumping 47% over the last 24 hours. It is now trading at $0.6719, with a market cap of $1.22 billion. It has been on a steady rise over the past week, gaining 61.93%, and is up 3.59% this month.
What’s most striking is the 24-hour volume, which rose a massive 820.86% to reach $442.81 million.
So what’s behind this surge?
Immutable’s impressive gains over the last 24 hours come after some exciting news from co-founder Robbie Ferguson.
Yesterday, he tweeted that Immutable will soon announce the results of a multibillion-dollar partnership that has been in the works for two years. The announcement has raised a lot of expectations, and the market response has been immediate, with $IMX rising to $0.6405.
Immutable is making huge strides as a layer-two solution for NFTs on Ethereum. It’s solving some of Ethereum’s biggest problems, like low scalability, slow transaction speeds, and annoying gas fees. On Immutable, you can create and trade NFTs with zero gas fees, and it’s fast, scalable, and secure.
The broader crypto market has been surging recently thanks to some big news. Paul Atkins was sworn in as the new SEC chairman, and that led to a lot of bullish sentiment across the board.
Subsequently, Bitcoin moved above $93,000, and Ethereum moved above $1,800, pushing the global crypto market cap to $2.94 trillion, a 6.24% increase in just one day.
With all this momentum, Immutable is really riding the wave. It’s clear that investors are seeing the potential in the NFT space, and the recent surge proves it.
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