Real-Time IMX Price Overview
Immutable X (IMX) is currently trading at $0.4429**, with a 24-hour trading volume of **$13,360,822. The price has decreased by 4.53% in the last 24 hours but has increased by 9.59% over the past week.
The current market capitalization of Immutable X stands at $826,685,391, with a maximum supply of 2,000,000,000 IMX coins. The circulating supply is 1,866,386,427 IMX tokens. Immutable X currently ranks #67 in the global cryptocurrency market.
At its current price, IMX is trading 95.34% below its all-time high and has not declined below its historical lowest point.
All data and prices are updated in real-time to provide accurate market information.
What Is Immutable X?
Immutable X (IMX) is the native utility token powering the Immutable X protocol, a Layer-2 scaling solution for Ethereum-based NFTs that incorporates ZK-Rollup technology. The token is built on the ERC-20 standard and serves multiple functions within the ecosystem.
IMX has several key use cases:
- Governance Token: IMX holders receive voting rights on proposals related to network modifications and development directions. Voting power is proportional to the amount of IMX held
- Transaction Fee Payment: Users must pay at least 20% of transaction fees using IMX tokens. Users who don't hold IMX will have their purchase currency automatically converted to IMX for fee payments
- Staking Rewards: The IMX tokens collected from transaction fees are distributed to a staking reward pool. Users can stake their tokens to earn regular cryptocurrency rewards from this pool
The total supply of IMX is fixed at 2,000,000,000 tokens with a deflationary model that could potentially increase the token's value as available supply decreases.
The token distribution is allocated as follows:
- 51.74% for Immutable X ecosystem development
- 25% for protocol development
- 14.26% to private sale investors
- 5% to public sale investors
- 4% to foundation reserves
Key Features of Immutable X
As a Layer-2 solution for Ethereum-based NFTs, Immutable X addresses several critical limitations of the Ethereum blockchain. The protocol specifically tackles issues such as low scalability, NFT illiquidity, poor user experience hindering mass adoption, and development inefficiencies.
The platform offers significant advantages including:
- Enhanced scalability through ZK-Rollup integration
- Zero gas fees for transactions
- Near-instant transaction finality
- Enhanced security through STARK proofs
Transactions occur on the Layer-2 blockchain while proof data is sent to the Ethereum mainnet, ensuring both efficiency and security. Beyond the ZK-Rollup technology, Immutable X incorporates several unique elements including an API abstraction layer, NFT-supported wallets, shared liquidity pools, order books, platform SDK, native marketplace, transaction history explorer, and comprehensive developer support.
Development Team Behind Immutable X
Immutable X was founded in 2018 by Alex Connolly and brothers James Ferguson and Robbie Ferguson. All three co-founders were students at the University of Sydney, though Robbie Ferguson left his studies to pursue the project full-time.
Prior to Immutable X, James Ferguson co-founded Rivlr, an online esports platform. As of recent updates, James Ferguson serves as CEO, Robbie Ferguson as President, and Alex Connolly as Chief Technology Officer. Both James and Robbie Ferguson were recognized in the 2019 Forbes Asia "30 Under 30" list for their contributions to the blockchain industry.
The project now boasts a diverse team of over 100 professionals with various technical backgrounds contributing to Immutable X's ongoing development and maintenance.
Frequently Asked Questions
What was Immutable X's highest historical price?
IMX reached its all-time high of $9.50 on November 26, 2021.
What was Immutable X's lowest historical price?
The token reached its historical low of $0.00 on November 5, 2021.
Where can I learn more about cryptocurrency trading strategies?
For those looking to explore more strategies for digital asset trading, numerous educational resources are available that cover technical analysis and market fundamentals.
How does Immutable X compare to other Layer-2 solutions?
Immutable X specializes specifically in NFT transactions and trading, whereas other Layer-2 solutions may focus on general smart contracts or DeFi applications. Its zero gas fees and instant transaction capabilities make it particularly suited for NFT marketplaces.
What makes Immutable X environmentally friendly?
As a Layer-2 solution, Immutable X significantly reduces the energy consumption associated with NFT transactions by processing them off-chain and only submitting proof data to the Ethereum mainnet, dramatically decreasing the carbon footprint compared to direct Ethereum transactions.
Can IMX tokens be staked for rewards?
Yes, IMX tokens can be staked to earn rewards from the protocol's staking pool, which is funded by 20% of all transaction fees collected on the network. This provides token holders with a way to generate passive income while supporting network security.
Final Thoughts
Immutable X represents a significant technological advancement in the NFT space, addressing critical issues of scalability, cost, and user experience that have hampered broader adoption of Ethereum-based digital collectibles. With its strong technical foundation, experienced leadership team, and growing ecosystem, IMX continues to be an important project in the blockchain infrastructure landscape.
For those interested in viewing real-time tools and platforms that support IMX trading and management, several established exchanges and wallet providers offer comprehensive services for this cryptocurrency. As always, investors should conduct thorough research and consider their risk tolerance before engaging with any digital asset.