Native token of NFT platform ImmutableX IMX, took action with the increase in volume of the Upbit exchange.
Listed on Upbit, South Korea’s leading exchange IMX– Koreawon parity ( IMX/ KRW ) accounted for approximately 20 percent of global trade volume. IMX, the native token of NFT platform ImmutableX, surged on Thursday, led by South Korean traders. It rose 35 percent to $0.74 during Asian trading hours. Bitcoin ( BTC), Ethereum ( ETH), XRPAnd BNBMajor cryptocurrencies such as were traded between 0.5% and 1% lower.
1/ The price of $IMX skyrocketed by 35% today.
We noticed that #Upbit wallets were accumulating $IMX.
And investors/institutions were depositing $IMX to exchanges after the price increase. pic.twitter.com/brWNourpoi
— Lookonchain (@lookonchain) September 21, 2023
Interest in IMX is increasing
The rise in price was accompanied by an increase of over 22 percent in 24-hour global trading volume. This increase reached 556 million dollars. Listed on Upbit exchange IMX/ KRWparity accounts for approximately 20 percent of global activity, Binance‘s IMX-tether (IMX/USDT) pair contributed 7 percent to the total volume.
Blockchain analysis firm LookonChain According to , wallets connected to Upbit have accumulated 12.53 million IMX ($9.27 million) amid the cryptocurrency’s rise. The balance was then transferred to a different crypto wallet holding over 21 million IMX. LookOnChain, said the following in his post on X regarding the issue: “ “Traders unlocked 3.05 million IMX ($2.3 million) from the Foundation Treasury Locked wallet after IMX price increased and possibly crashed into the market.”
IMX, which is active on the Ethereum blockchain and offers layer-2 protocol and scaling for NFTs, is gaining increasing attention. IMX, which offers low commission fees in NFT marketplace systems and has a transaction per second (TPS) capacity of approximately 600 times more than other marketplaces, was among the projects that shook the altcoin market of the day.
