Immutable X (IMX)

Immutable X is currently trading at $0.54, after a price change of 9.57% in the last 24 hours.

Ranked as cryptocurrency #77 by capitalization today, IMX market cap is valued at $411,869,037. IMX trading volume reached $35,876,045 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on IMX coin price prediction page.

What is Immutable X?

Immutable X is a layer-two scaling solution on Ethereum built for non-fungible tokens. The platform allows for instant trading and minting with zero gas fees. Immutable applies zk-rollup technology where assets are exchanged in the second layer blockchain, but the transaction proof is kept on Ethereum. The technology enables developers to mint and distribute assets under ERC721 and ERC20 standards. The protocol uses STARK proofs, which are more secure despite being costly to publish on-chain. Immutable X uses the API Abstraction layer to make the minting of NFTs seamless. 

IMX is an ERC20 standardized token native to Immutable X. It is used for paying transaction fees, governance, and staking. There are 235,284,001 circulating IMX tokens from a total supply of 2 billion and a matching hard cap. IMX holders get a chance to vote on the future developments of the platform with the proposals available on Snapshot. 20% of the blockchain’s transaction fees must be paid using IMX tokens. All the transaction charges on Immutable X are transferred to a staking reward pool, where users can earn rewards based on the staked amount. 

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