Sparking interest across the crypto sphere, IMX, the native token of the ImmutableX NFT platform, surged by an impressive +30% overnight. This dramatic jump followed a huge influx of trading volume on South Korean exchanges, a testament to the growing global interest in the power of NFTs. Now, with the IMX token seemingly poised to test resistance at the 200DMA, a pertinent question is making rounds in the crypto community – ‘is it too late to buy ImmutableX’?
The trading volume reached a staggering $617m in the last 24 hours on the Upbit and BW exchanges sparking a +38.1% price movement. This growth wasn’t confined to the East. The thrill of possible riches inspired a rush of investors on Western exchanges like Binance, driving IMX prices even higher, though making it vulnerable to a price dump if South Korean activity falters.
However, the crypto whales, it appears, undeterred by this risk, remain bullish, fuelling the market with major purchases. Amid this scenario, IMX trading price stands at $0.64 with a 24-hour change of -5.19%. While the RSI signals an overheated market demanding retracement and consolidation, the bullish MACD indicates continued momentum. It is keenly watched if the price touches the 200DMA at $0.80 or retraces to the 20DMA at $0.54.
While IMX captures much of the spotlight, another crypto initiative is gradually gaining ground – Meme Kombat. This novel venture combines the allure of gaming with GambleFi, synchronously operating in a decentralised web of blockchain technologies. It allows players to bet on character battles, resulting in potentially lucrative rewards. Meme Kombat differs by ensuring its outcomes are both transparent and unpredictable, creating an immersive gaming experience.
Transparent practices are paramount to Meme Kombat. The company’s impending smart contract security audit will soon be public, demonstrating a rare commitment to accountability. Matt Whiteman, the founder of Meme Kombat, brings credibility to the project. His extensive experience in process design, coupled with his role as the COO of North Technologies, speaks volumes of the project’s potential.
Moreover, the tokenomics of Meme Kombat is attractive for investors. The initiative offers a promising APY of 112% to $MK token stakers who can also use their stakes to gamble in the gaming arena. This unique blend of entertainment and financial gain is set to redefine the burgeoning GambleFi industry. Hence, whether it’s IMX’s feats or Meme Kombat’s promise, the blockchain future teems with intriguing potential.
Disclaimer: Crypto is a high-risk asset class. This article is for informational purposes and isn’t investment advice. Be aware that it’s possible to lose all of your capital when investing in crypto.
Source: Cryptonews
