Significant Boost For ImmutableX<\/strong><\/h2>\nThe inclusion of this listing on Upbit resulted in a significant boost, accounting for over 35% of the global trading activity for IMX. This allowed direct trading with the Korean won and increased South Korean trader interest in BW.com.<\/p>\n
\nImmutableX’s $IMX<\/a> token skyrocketed over 30% following the listing of IMX-Korean won pair on South Korea’s leading exchange @Official_Upbit<\/a>.<\/p>\nThe newly listed IMX\/KRW pair on Upbit exchange accounted for nearly 20% of the global trading volume.. pic.twitter.com\/UcZhiTT7MA<\/a><\/p>\n\u2014 GeckoTerminal (@GeckoTerminal) September 21, 2023<\/a><\/p><\/blockquote>\nAccording to data source Coingecko, the IMX-Korean won (IMX\/KRW) pair listed on South Korea’s Upbit exchange accounted for roughly 20% of worldwide activity, followed by Binance’s IMX-tether (IMX\/USDT) pair, which contributed 7% to total volume.<\/p>\n
A number of Upbit wallets absorbed millions of dollars’ worth of IMX, according to the Web3 data research application Lookonchain, even though the precise reasons driving up the price are yet unknown.<\/p>\n
![](\"https:\/\/www.tradingview.com\/x\/gcYuYEOm\/\")
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IMX market cap currently at $775 million. Chart: TradingView.com<\/a><\/pre>\nWhales are essential to the dynamics of the market since they own about 87% of the circulating supply of IMX. Their presence can cause losses for other investors, and their activities have a major impact on the market.<\/p>\n
The number of significant transactions (those over $100,000) has been quite modest in recent weeks, averaging about $7 million, with sporadic little rises occurring every few days. Whale trades barely reached $22.6 million in the last 24 hours.<\/p>\n
At the time of writing, IMX was trading at $0.66, up 33% in the last seven days, data from crypto market tracker Coingecko shows.<\/p>\n
IMX Derivatives Short-Selling<\/strong><\/h2>\nMeanwhile, according to the data provided by CoinGlass, there is evidence of traders actively engaging in short selling of IMX derivatives. This is evident from the notable increase in negative funding rates observed on perpetual swaps.<\/p>\n
Despite the recent surge, the native token of ImmutableX<\/a> remains far below its all-time highs recorded during the crypto market bull run at the end of last year. IMX hit an all-time high of more than $9.30 at that time.<\/p>\n
ImmutableX’s $IMX<\/a> token skyrocketed over 30% following the listing of IMX-Korean won pair on South Korea’s leading exchange @Official_Upbit<\/a>.<\/p>\n The newly listed IMX\/KRW pair on Upbit exchange accounted for nearly 20% of the global trading volume.. pic.twitter.com\/UcZhiTT7MA<\/a><\/p>\n \u2014 GeckoTerminal (@GeckoTerminal) September 21, 2023<\/a><\/p><\/blockquote>\n According to data source Coingecko, the IMX-Korean won (IMX\/KRW) pair listed on South Korea’s Upbit exchange accounted for roughly 20% of worldwide activity, followed by Binance’s IMX-tether (IMX\/USDT) pair, which contributed 7% to total volume.<\/p>\n A number of Upbit wallets absorbed millions of dollars’ worth of IMX, according to the Web3 data research application Lookonchain, even though the precise reasons driving up the price are yet unknown.<\/p>\n Whales are essential to the dynamics of the market since they own about 87% of the circulating supply of IMX. Their presence can cause losses for other investors, and their activities have a major impact on the market.<\/p>\n The number of significant transactions (those over $100,000) has been quite modest in recent weeks, averaging about $7 million, with sporadic little rises occurring every few days. Whale trades barely reached $22.6 million in the last 24 hours.<\/p>\n At the time of writing, IMX was trading at $0.66, up 33% in the last seven days, data from crypto market tracker Coingecko shows.<\/p>\n Meanwhile, according to the data provided by CoinGlass, there is evidence of traders actively engaging in short selling of IMX derivatives. This is evident from the notable increase in negative funding rates observed on perpetual swaps.<\/p>\n Despite the recent surge, the native token of ImmutableX<\/a> remains far below its all-time highs recorded during the crypto market bull run at the end of last year. IMX hit an all-time high of more than $9.30 at that time.<\/p>\n<\/p>\n
IMX market cap currently at $775 million. Chart: TradingView.com<\/a><\/pre>\n
IMX Derivatives Short-Selling<\/strong><\/h2>\n