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Cryptocurrency News Articles
Immutable X: Comprehensive Analysis and Price Forecast for 2024 and Beyond
Apr 23, 2024 at 12:37 pm
Within the dynamic crypto field, there is a kaleidoscope of virtual currencies and protocols. Immutable X is an established leader in this realm, designed as a layer 2 scalability solution for both Ethereum and NFTs. It has gained recognition as one of the earliest scaling solutions specifically for non-fungible tokens, which largely rely on Ethereum.
Immutable X: A Comprehensive Analysis and Price Prediction for 2024 and Beyond
Introduction
Within the rapidly evolving crypto space, a myriad of virtual currencies and protocols have emerged. Immutable X distinguishes itself as one of the preeminent ecosystems in this landscape, establishing a solid position as a market leader. Developed as a layer 2 scalability solution for Ethereum (ETH) and non-fungible tokens (NFTs), Immutable X is recognized as one of the earliest scaling alternatives for NFTs, primarily based on the Ethereum blockchain.
Addressing Ethereum's Limitations
As a cryptocurrency, Immutable X strives to overcome the inherent shortcomings of Ethereum that hinder the seamless utilization of NFTs. It effectively combats limited throughput, low liquidity, intricate user interface, and sluggish consumer experience.
Investing in IMX: A Look Ahead to 2024 and Beyond
For those considering an investment in IMX, we present a comprehensive and well-reasoned Immutable X price prediction for 2024 and the years to come. Join us as we delve into the details.
Table of Contents
- Overview
- Immutable X Price Prediction April 2024
- IMX Price Prediction 2024
- Immutable X Price Prediction 2024 – 2030
- IMX Price Prediction 2025
- Immutable X (IMX) Price Prediction 2026
- IMX Price Prediction 2027
- Immutable X Price Prediction 2028
- IMX Price Prediction 2029
- Immutable X Price Prediction 2030
- What Does the Market Say?
- CoinPedia's ImmutableX Token (IMX) Prediction
- Fundamental Analysis
- What Is ImmutableX?
- IMX's Historical Price Sentiment 2021 – 2023
- FAQs
Overview
Cryptocurrency: ImmutableX
Token: IMX
Price: $2.36405717
Market Cap: $3,443,994,530.8797
Circulating Supply: 1,456,815,249.3898
Trading Volume: $72,682,909.2297
All-time high: $9.50 on November 26th, 2021
All-time low: No Data
24 High: $2.456624
24 Low: $2.2473
*Statistics are from press time.
Immutable X Price Prediction April 2024
The Immutable X price has exhibited significant price action since the commencement of the year, indicating a growing positive sentiment for this altcoin in the market. Moreover, the IMX price has gained approximately 5% within the past 24 hours and 24.65% over the past seven days, highlighting a robust bullish reversal in the market.
Technical Analysis:
The technical indicator, Moving Average Convergence Divergence (MACD), displays a rising green histogram on its chart, suggesting increased positive sentiment within the crypto space. Furthermore, the averages depict a bullish convergence, implying that the price will continue to appreciate in value this month.
Should the market drive the price above the resistance level of $2.55, the bulls will accumulate momentum and prepare to test the upper resistance level of $3.08 in the near future. However, if the bulls fail to regain momentum, the IMX price will decline and soon test its support level of $2.00.
IMX Price Prediction 2024
The greatest value proposition of the Immutable X project lies in its ability to facilitate massive scaling through rollups. Rather than employing more traditional techniques, the team opted for ZK-Rollups/Validium scaling. On an optimistic note, with increasing scalability, the coin may ascend to reach a maximum price of $4.82.
However, the contracting stance in the industry may pave the way for a drop below $1.63. Considering both bullish and bearish targets, the average price might settle at $3.22.
Immutable X Price Prediction 2024 – 2030
Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
---|---|---|---|
2024 | 1.63 | 3.22 | 4.82 |
2025 | 3.22 | 4.88 | 6.55 |
2026 | 4.89 | 6.53 | 8.18 |
2027 | 6.45 | 8.35 | 10.25 |
2028 | 8.33 | 11.03 | 13.74 |
2029 | 10.10 | 13.48 | 16.87 |
2030 | 12.88 | 16.21 | 19.55 |
IMX Price Prediction 2025
NFT marketplaces can be developed on Immutable X without requiring a backend, thanks to its distributed global order book, which enhances network liquidity. Consequently, third-party market alternatives can coexist with the core marketplace of the system. That being said, the expanding deployment of NFTs could propel its maximum price to $6.55.
Conversely, if bears dominate the market, the token might plunge to $3.22. Collectively, restrained by a linear momentum, with the scarcity of stimulating initiatives, IMX's price might find support at $4.88.
Immutable X (IMX) Price Prediction 2026
According to price forecasts and technical analysis, IMX's price may reach a minimum of $4.89 in 2026. The maximum price could touch $8.18, with an average trading price hovering around $6.53.
IMX Price Prediction 2027
Looking forward to 2027, IMX's price may reach a low of $6.45, with a high of $10.25 and an average forecast price of $8.35.
Immutable X Price Prediction 2028
In 2028, the price of a single ImmutableX may reach a minimum of $8.33, with a maximum of $13.74 and an average price of $11.03.
IMX Price Prediction 2029
By 2029, IMX's price may attain a minimum of $10.10, with the potential to reach a maximum of $16.87 and an average of $13.48.
Immutable X Price Prediction 2030
In 2030, ImmutableX is projected to reach its lowest price at $12.88, hitting a high of $19.55 and an average price of $16.21.
What Does the Market Say?
Firm | 2024 | 2025 | 2030 |
---|---|---|---|
Wallet Investor | $0.0904 | $0.125 | - |
priceprediction.net | $0.7188 | $1.11 | $7.97 |
DigitalCoinPrice | $5.01 | $5.91 | $17.28 |
*We have compiled a table that includes the potential price predictions for the same token made by other crypto analysts on their respective platforms. The targets mentioned above are the average targets set by the respective firms.
CoinPedia's ImmutableX Token (IMX) Prediction
As per the IMX crypto price prediction formulated by our experts, the coin exhibits robust fundamentals. The coin's price can therefore rise to a maximum of $4.82 by the end of 2024 if the NFT market flourishes.
On the flip side, if the crypto industry encounters an increase in regulations or a bearish trend reversal, the coin might touch bottom at approximately $1.63 if the token fails to maintain its price.
Fundamental Analysis
Origins and Advantages:
Immutable X was established in 2018 by James Ferguson and his brother Robbie Ferguson. Immutable X benefits from being one of the earliest layer-two systems to implement zk-rollups and focus exclusively on NFTs. With zk-rollups gaining traction as a scalability solution, the project is at the forefront of growth within the Ethereum protocol. Immutable X has a strong likelihood of emerging as the preferred "NFT blockchain" shortly.
API Abstraction Layer:
The API abstraction layer serves as a pivotal element in delivering scalable solutions to its users. Every NFT-related transaction, such as minting, selling, and trading, is now a simple API request on Immutable X, owing to its REST APIs. According to the company, this will be a critical feature in attracting new members, including major gaming and entertainment businesses in the industry.
Network Features:
The network vows to comply with the law wherever it operates, and it supports a liquidity pool through a global order book of NFTs
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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