Aussie startup Immutable has quickly established itself as a leader in the international NFT space. It’s allowed it to outperform other major chains like Ethereum, Solana, Avalanche, and Mythos. The increase is largely being credited to the rising success of Immutable’s gaming platform, which recently passed a massive 3 million users. While its token value has seen ups and downs in recent months, Immutable’s overall market position is undeniably sound.
The average since August is 620,000 unique active wallets interacting with Immutable’s games. This figure number is illustrative of the deep adoption and thriving community that the platform has. Data indicates a 17% drop in unique active wallets in the last 30 days. That is a signal that users are either approaching a cooling-off period or changing their patterns of behavior.
Immutable’s token (IMX) trading volume recently hit $34.9 million, indicating serious money activity in their ecosystem. The token has proved more resilient moving forward, rebounding sharply from recent lows, all signaling confidence from investors and healthy market dynamics.
As of the end of this week, Friday 6/27, Immutable was trading for $0.419. That indicates a rebound from a recent trough. It still remains 50% below its high in May and an astounding 90% below last year’s high. On Saturday, Immutable was trading around $0.415.
As per technical analysis, the most important support level of Immutable is $0.3458. A drop below this level could spoil the prevailing bullish setup. If Immutable manages to hold the line above this level, its token may rally up to 98%. This would make it near the pattern’s neckline at $0.8100. The neckline of Immutable’s pattern is located at $0.8100.
Immutable is the next biggest player after Sei, BSC, Skale and WAX in the gaming sector. This impressive ranking is testament to its increasing importance and market share in the rapidly expanding and highly competitive blockchain gaming ecosystem.
