What Is Immutable ($IMX)? Everything You Need to Know

What is Immutable ($IMX)?

Immutable ($IMX) is a layer-2 scaling solution for non-fungible tokens (NFTs) on the Ethereum blockchain. It enhances Ethereum's scalability and user experience by leveraging StarkEx ZK-Rollup technology. This technology enables high transaction throughput and zero gas fees for users trading NFTs.

Key Features of Immutable ($IMX)

Layer-2 Scaling Solution

Immutable X addresses Ethereum's limitations in scalability, user experience, and liquidity. It provides a high-performance platform for NFTs and gaming applications.

Native Token

IMX is the native token of Immutable X. It is used to pay transaction fees and incentivize users and developers on the platform.

Founding

Immutable X was founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly.

Utilities

The IMX token serves multiple purposes, including governance, tipping systems, gas fees, and rewards.

Technical Analysis

The token exhibits patterns such as the Ascending Triangle, indicating potential bullish trends. Resistance levels are noted at $2.209 and $3.221, while support levels are at $1.231 and $0.787.

Token Unlocks

Recent token unlocks include the release of 24.52 million tokens worth $32.36 million, representing 1.45% of IMX’s circulating supply.

Gaming Ecosystem

Immutable X is renowned for its growth in the gaming ecosystem. It offers no-gas-fee policies and instant transactions, making it a favored platform for creators and gamers.

How Does Immutable X Work?

Immutable X (IMX) is a layer-two scaling solution for NFTs on Ethereum, designed to eliminate gas fees and enhance transaction efficiency through the use of zk-rollups. Here’s a detailed explanation of how it works:

Layer-Two Scaling Solution 🌐

Immutable X is specifically developed to address the scalability issues on the Ethereum network, particularly for NFT transactions. It operates as a layer-two solution, which means it processes transactions off the main Ethereum blockchain but still maintains the security and integrity of the Ethereum network.

ZK-Rollups 🚀

The platform uses zk-rollups, a technology that bundles multiple transactions into a single proof. This method allows for instant validation of transactions without incurring gas fees, making NFT transactions faster and more cost-effective.

Transaction Efficiency 💡

By combining multiple transactions into a single proof, Immutable X significantly enhances transaction efficiency. This approach eliminates the need for users to pay gas fees, which are typically required for transactions on the Ethereum network.

Security 🔒

Immutable X ensures data integrity by using zero-knowledge proofs such as zk-SNARKS or zk-STARKS. These proofs secure the validation process while maintaining the integrity of the Ethereum network.

IMX Token Utility 💰

The IMX token serves multiple purposes within the Immutable X ecosystem:

Transaction Fees: IMX tokens are used to pay transaction fees incurred on the Immutable X network.
Staking Rewards: Token holders can stake IMX to earn rewards.
Governance Participation: IMX tokens enable holders to participate in governance decisions, allowing them to vote on critical decisions that influence the platform.

Carbon-Neutral NFTs 🌿

Immutable X promotes a more environmentally friendly NFT trading environment by eliminating gas fees and offering carbon-neutral NFTs.

Use Cases of Immutable X

Scenario 1: Gas-Free Transactions

Scenario Description: Immutable X allows for gas-free minting and trading of NFTs, eliminating high fees and transaction delays.
Challenges: Traditional NFT platforms often face high gas fees and slow transaction speeds.
Solutions: By offering gas-free transactions, Immutable X removes these barriers, making it an attractive option for creators and developers.
Results or Benefits: Users enjoy efficient and sustainable NFT trading, enhancing user satisfaction and platform preference. 🚀

Scenario 2: Scalability

Scenario Description: Immutable X uses rollup technology to enhance scalability on Ethereum.
Challenges: Scaling issues can limit transaction throughput and performance on the Ethereum network.
Solutions: Immutable X enables thousands of transactions per second without sacrificing performance.
Results or Benefits: This offers a seamless user experience and supports high-volume NFT activities. 🔄

Scenario 3: NFT Market Accessibility

Scenario Description: Immutable X facilitates commission-free transactions for users.
Challenges: High transaction costs can deter potential NFT buyers and sellers.
Solutions: By removing commissions, Immutable X democratizes NFT access for a broader audience.
Results or Benefits: This increases market participation and makes NFTs more attractive to newcomers. 🌍

Scenario 4: Blockchain Gaming and Digital Art

Scenario Description: The platform supports blockchain gaming and digital art projects.
Challenges: These sectors require robust infrastructure to handle complex transactions and high data volumes.
Solutions: Immutable X offers a reliable framework specifically designed for these industries.
Results or Benefits: Developers gain a stable and effective environment for innovation and growth. 🎮🎨

Scenario 5: Ethereum Compatibility

Scenario Description: Immutable X is compatible with the Ethereum network.
Challenges: Ensuring compatibility with Ethereum’s security and ecosystem can be complex.
Solutions: Immutable X maintains seamless integration with Ethereum, enhancing security and scalability.
Results or Benefits: This supports the development of the NFT ecosystem, making it secure and scalable. 🔐

Why Choose Immutable X for These Use Cases

Immutable X offers a unique combination of gas-free transactions and scalability.
It enhances market accessibility and supports diverse sectors like gaming and art.
Its compatibility with Ethereum ensures security and robust performance.
Overall, Immutable X stands out as a leading solution for sustainable NFT technology. 🌟

Pros of $IMX

Potential High Return on Investment

Investing in $IMX today could be lucrative, as forecasts suggest a 380.91% ROI by February 8, 2025. This projection indicates significant profit potential for early adopters.

Predicted Price Increase

Price forecasts predict that $IMX could see a substantial rise of 227.53%, reaching $4.34 by January 31, 2025. This growth highlights the currency's promising future.

Market Potential

Immutable X's market potential is evident when compared to other Layer 2 projects like Optimism (OP), suggesting a potential FDV of $200-300 billion in a bull market. This showcases the project's scalability and growth prospects.

Cons of $IMX

Bearish Sentiment

Despite optimistic price predictions, the current market sentiment for $IMX is bearish, which could indicate potential short-term downturns that investors should be cautious of.

High Volatility

The cryptocurrency has exhibited a 16.67% price volatility over the past month, signifying a risky environment for investors, particularly those adverse to high-risk investments.

Fear & Greed Index

The index currently reads 66 (Greed), suggesting an overvalued market. This measure implies potential for corrections, making it crucial for investors to evaluate entry points carefully.

Bad Time to Buy

The existing forecasts suggest caution, labeling the current period as a potentially poor time to invest in $IMX. This highlights the importance of strategic timing in investment decisions.

Pros	Cons
High ROI Potential	Bearish Market Sentiment
Significant Price Increase Predictions	High Volatility
Market Growth Potential	Overvalued Market (Fear & Greed Index)
	Considered a Bad Time to Buy

Where to Buy and Sell Immutable ($IMX)?

You can buy and trade $IMX through exchanges such as Coins.ph, a trusted platform that enables Filipino users to trade $IMX with ease, while also offering high security and fast transactions.

Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first-ever blockchain-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank.

Start trading your favorite Crypto on Coins Pro with fees as low as 0.05%!

Get Started

How to Buy Immutable ($IMX)?

Via Coins Pro, BSP Licensed Spot Exchange:

Step 1: Log into your Coins Pro account and click [Balance].
Step 2: Select the currency you want to deposit, click on [Deposit] and enter your desired cash-in amount.
Step 3: Select IMX/PHP pair and enter the [Order Quantity] you would like to trade.
Step 4: Click Buy or Sell to place your Limit and Stop Orders.
Step 5: Wait for your order to be filled.

Buy $IMX on Coins Pro!

Disclaimer: The information and publications in this article are not intended to be and do not constitute financial advice, investment advice, trading advice, or any other advice or recommendation offered or endorsed by Coins.

Join the Coinmunity

Connect with like-minded crypto enthusiasts! Be the first to learn about our news and campaigns.

Join us on:

Twitter: https://twitter.com/coinsph
Discord: https://discord.com/invite/coinsph
Telegram (Announcements): https://t.me/coinsph_announcements
Telegram (Community): https://t.me/coinsphfilipino
Instagram: https://www.instagram.com/coinsph/
Facebook: https://www.facebook.com/coinsph/
TikTok: https://www.tiktok.com/@coinsph_official
YouTube: https://www.youtube.com/coinsph