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IMX, the native token of non-fungible tokens platform ImmutableX, surged on Thursday, led by South Korean traders. The cryptocurrency rose 35% to 74 cents during Asian trading hours, CoinDesk data show. Major cryptocurrencies like bitcoin (BTC), ether (ETH), XRP and BNB traded 0.5% to 1% lower. The IMX price rally
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The price rally is accompanied by over 22% increase in the 24-hour global trading volume to $556 million. The IMX-Korean won (IMX/KRW) pair listed on South Korea's Upbit exchange accounted for nearly 20% of the global activity, followed by Binance's IMX-tether (IMX/USDT) pair, which contributed 7% to the total volume,
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“We see no concerns surrounding this upcoming unlock, and even if some short-term selling should occur,” Robbie Ferguson, co-founder of Immutable, wrote in an email. “The top 30 IMX holders, representing 85% of the remaining tokens, have committed to holding – many of whom are long-term equity shareholders of Immutable.
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