Based on cryptocurrency onchain knowledge, there was a notable improve in whale exercise in an altcoin.
Onchain knowledge shared by cryptocurrency analytics agency Santiment reveals an uncommon spike in whale exercise within the Immutable X (IMX) altcoin. Based on analysts, when giant wallets improve their transfers in a cryptocurrency, it may point out a interval of accumulation.
Santiment knowledge reveals that crypto whale wallets holding a minimum of 100,000 IMX tokens have amassed a complete of 4.55 million IMX over the previous three months.
Nonetheless, the IMX worth continues to development downward. The token’s worth has fallen by 19% within the final month, whereas the decline price within the final 12 months has been 80%. IMX, which is listed on main cryptocurrency exchanges akin to Binance, Upbit and Coinbase, has a market worth of roughly $1 billion on the time of writing.
The token, which has a big consumer base particularly in South Korea, has the theme of Web3 video games, which had been as soon as highly regarded.
*This isn’t funding recommendation.
