IMX analysis
Analysis of IMX at the request of a subscriber!
Immutable X is the first layer 2 scalable consensus for NFTs on Ethereum. The project's blockchain eliminates the limitations of Ethereum, such as low scalability, poor user interface, illiquidity, and slow UI.
Users benefit from instant trading as well as zero gas fees to create and trade NFTs without compromising asset security. To achieve this, Immutable X is built using STARK zk-rollups, a technology that Vitalik Buterin considers "comprehensive".
Investors: Sora Ventures, Nirvana Capital, Continue Capital, Coinbase Ventures, Reinventure, Prosus Ventures, Galaxy Interactive, EOS VC Fund, Apex Capital Partners, AirTree Ventures, Alameda Research, ParaFi Capital.
IMX unlocks
The tokenomics of the project is the most important factor in the analysis. IMX is approaching historical lows, there are now 235 million coins in circulation, the maximum issue is 2 billion.
On November 5, 2022, IMX will unlock approximately 350 million tokens, 17.5% of the total supply. The purchase price of funds for private sale is $0.1. Very high chance of falling after unlocking.
The IMX developers seem to have realized that the tokenomics was not well thought out.
The sale of such volumes of coins could bring down the price by 30-50%.
More than 50% of unlocked coins belong to developers. They stated that they will re-lock their coins for 1 year.
The developers are also working to attract new strategic long-term holders to buy any remaining IMX holdings.
From a technical point of view, I would wait for an update of the lays, because the market looks weak, and before the tokens are unlocked, we can see a fall, and perhaps in this range of $0.44-0.50 large volumes will come to buy. However, we see a small but emerging purchase that cannot leave us indifferent and add this coin to the watch list and stay tuned.
Immutable X is the first layer 2 scalable consensus for NFTs on Ethereum. The project's blockchain eliminates the limitations of Ethereum, such as low scalability, poor user interface, illiquidity, and slow UI.
Users benefit from instant trading as well as zero gas fees to create and trade NFTs without compromising asset security. To achieve this, Immutable X is built using STARK zk-rollups, a technology that Vitalik Buterin considers "comprehensive".
Investors: Sora Ventures, Nirvana Capital, Continue Capital, Coinbase Ventures, Reinventure, Prosus Ventures, Galaxy Interactive, EOS VC Fund, Apex Capital Partners, AirTree Ventures, Alameda Research, ParaFi Capital.
IMX unlocks
The tokenomics of the project is the most important factor in the analysis. IMX is approaching historical lows, there are now 235 million coins in circulation, the maximum issue is 2 billion.
On November 5, 2022, IMX will unlock approximately 350 million tokens, 17.5% of the total supply. The purchase price of funds for private sale is $0.1. Very high chance of falling after unlocking.
The IMX developers seem to have realized that the tokenomics was not well thought out.
The sale of such volumes of coins could bring down the price by 30-50%.
More than 50% of unlocked coins belong to developers. They stated that they will re-lock their coins for 1 year.
The developers are also working to attract new strategic long-term holders to buy any remaining IMX holdings.
From a technical point of view, I would wait for an update of the lays, because the market looks weak, and before the tokens are unlocked, we can see a fall, and perhaps in this range of $0.44-0.50 large volumes will come to buy. However, we see a small but emerging purchase that cannot leave us indifferent and add this coin to the watch list and stay tuned.
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