IMX · 15m · LEGENDOHLC
IMX
Market cap$108M
Today’s move
Updated - ago
Immutable (IMX) edged down roughly 0.62% to $0.12114 amid regional exchange delisting headwinds and thin trading activity. Sentiment faced localized pressure following Coincheck's announcement that it will delist IMX and several other tokens on December 17 due to declining liquidity, with deposits and trading halting on December 10.1 Muted market participation in Web3 gaming infrastructure persists as 24-hour volume remains depressed at $379k alongside $3.2M in open interest.2
About
Immutable X (IMX) is the native utility token of the Immutable X protocol, a Layer 2 scaling solution built on Ethereum designed specifically for NFT minting, trading, and gaming applications. The token operates on Immutable X's StarkEx-based rollup technology, which enables high-throughput transactions with significantly lower gas fees while maintaining Ethereum's security guarantees. IMX serves multiple functions within the ecosystem, including governance participation, validator staking for network security, and fee payment mechanisms. The protocol is particularly notable for its zero-knowledge proof architecture, which allows thousands of transactions to be batched and verified on-chain efficiently without congesting the Ethereum network. IMX gained prominence as adoption increased from various gaming studios and NFT marketplaces building on the platform, positioning it as infrastructure for the interactive entertainment and digital collectibles sectors. The token also features a deflationary mechanism through transaction fee redistribution to token holders, aligning economic incentives with network usage.