The IMX price has experienced a significant surge in September, breaking out from a short-term symmetrical triangle on the Immutable price chart. This breakout, coupled with expanding partnerships, positive sentiment from a Federal Reserve rate cut, and a strong on-chain accumulation trend, indicates that IMX crypto is entering a new growth phase.
Currently, the IMX price stands at $0.8720 with a market cap of $1.64 billion, taking a slight breather after its recent rally. The breakout has reignited interest in IMX crypto, with potential for further bullish momentum. The recent Federal Reserve rate cut has boosted investor optimism, with Immutable emerging as a standout player.
Looking ahead, the IMX price is eyeing the $1 mark as the next near-term barrier, with predictions suggesting a potential revisit of 2024’s highs near $3.75 if the bullish trend continues.
Immutable’s rapidly expanding gaming ecosystem has been a key driver of growth for IMX. With partnerships with major gaming companies like Ubisoft and Netmarble, IMX is becoming a central platform for web3 gaming. The recent addition of multi-generational franchises like Solo Leveling has further bolstered its user base.
On September 19, Immutable announced the launch of its Mobile Gaming Division, aimed at accelerating web3 gaming adoption on mobile devices. With over 50% of mainstream gamers playing on mobile, this division is strategically positioned to tap into a market generating over $121 billion annually.
The division will focus on building tailored growth products, providing developer support, and investing in mainstream mobile game studios to onboard them into the Immutable ecosystem. This move comes after the Epic Games court case in April, which allows developers to link to external crypto payments on mobile without paying the traditional 30% fee, reducing barriers for web3 game monetization.
On-chain data further supports the bullish outlook for IMX, with smaller holders exiting while larger holders are accumulating. Whale transactions above $100k and $1 million have surged, indicating institutional-scale interest. Exchange outflows have consistently exceeded inflows in September, signaling strong conviction and a shift towards long-term holding.
Overall, the combination of technical strength, expanding ecosystem, and on-chain accumulation trends suggests that IMX crypto is poised for continued growth. As Immutable continues to innovate and expand its presence in the gaming industry, IMX could see further upside potential in the coming months.