Posted 9/21/2023, 4:59:00 AM

IMX Token Surges 35% Led by South Korean Traders; Investors Move Coins to Exchanges After Price Spike

IMX, the native token of ImmutableX, surged 35% to 74 cents led by South Korean traders on Upbit exchange.
IMX trading volume rose 22% to $556 million globally, with Upbit accounting for nearly 20% of it.
Upbit wallets accumulated over 12 million IMX as price rose, then transferred to a single address now holding 21 million IMX.
Some investors moved coins to exchanges, possibly to sell after the price increase.
Open interest in IMX futures hit a record high of $80 million, signaling an influx of new money.

coindesk.com

Relevant topic timeline:

10/17/2023

Immutable X Allocates $125M in Tokens for Developers, Delays Vesting for Long-Term Sustainability

Immutable, an Ethereum layer-2 NFT scaling solution, will delay the vesting of 125 million IMX tokens worth $67 million to July 2024 in order to ensure long-term sustainability, with the tokens to be released on a linear monthly vesting schedule.