As NFTs evolve beyond their identity as mere trading assets, we can expect an NFT-driven radical change in the online realm within the next few decades. NFTs are now a part of gaming, fashion, real estate, music, healthcare, and finance. Platforms such as Immutable X are continuously pushing the boundaries of the web3 environment to build a better system for the future.
Immutable X, the layer 2 scaling solution focused on NFTs, has created an open-source environment that allows anyone to develop NFT-based applications. Its scalability and user experience have created a trend around online communities, increasing the market cap of its native token IMX. However, the token has been in a downward wave-like movement lately.
The diminishing belief in NFTs among traders, the lack of media attention, and issues with SEC, all affected IMX’s cap to 2 million from its peak of 5 million dollars. This article will check whether IMX will continue this downtrend or revive as a superior token with a fascinating market cap.
What Is Immutable X?
Immutable X is an Ethereum Layer 2 solution mainly focused on the scalability of non-fungible tokens (NFTs). It was founded in June 2018 by James Ferguson and Robbie Ferguson. Immutable was formerly an Australian platform that ran the NFT trading game called Gods Unchained.
When the game became a success, Immutable transformed into an all-in-all NFT ecosystem in 2020 by becoming an Ethereum Layer 2 solution through StarkWare’s technology. Three years later, Immutable X partnered with Plygon to create the Immutable zkEVM, an EVM-compatible zk-rollup powered by Polygon technology.
Why Is Immutable X ($IMX) Trending?
There are multiple reasons for IMX to become a trend, including the increasing inquiry by the investors and the case with the SEC. In November 2024, IMX revealed that the SEC (The United States Securities and Exchange Commission) issued a notice to the platform. SEC accused Immutable of misrepresenting the token’s backing to the public and for not considering them as securities.
Recently, the Rosen Law Firm encouraged IMX token hodlers to look into the SEC investigation. The hodlers accuse the SEC of not having regulatory clarity. However, the newly formed U.S. government is expected to bring some clarity regarding cryptocurrency and blockchain technology laws.
Why Is Immutable X An Important NFT Platform?
Immutable has a variety of contributions to the web3 world, including the Immutable Passport which simplifies the onboarding process for users. Let’s list out some of the most important features of the platform.
No Gas Fee
The platform offers zero-gas transactions within the network. This helps to limit the power required for gas processing and also diverts the same energy to increase the scalability.
Scalability
Immutable X can process 9,000 transactions per second and offers instant trade confirmation. It relies on zero-knowledge Rollups (zk-Rollups) where the transactions will be combined and processed as a single transaction in the ETH mainchain.
Climate-Friendly
The platform works extensively to decrease the carbon footprint. It eradicates the huge gas emissions associated with Ethereum’s NFT transactions.
The IMX Token Details
| Token Ticker | $IMX |
| Chain | Ethereum ERC-20 |
| Contract Address | 0xf57e7e7c23978c3caec3c3548e3d615c346e79ff |
| Total Supply | 2 Billion IMX |
| Circulating Supply | 1.71 Billion IMX |
| Market Cap | 2.13 Billion (11/01/2025) |
IMX is mainly used as a transactional fee inside the Immutable ecosystem. Beyond its utility in transactions, users can stake IMX to earn rewards. Users can purchase it via popular exchanges such as Binance, Bybit, OKX, Upbit, Kraken, KuCoin, and MEXC. Decentralized exchanges like Uniswap, SushiSwap, and DeGate also facilitate the swapping of IMX.
Is IMX A Good Investment Option?
Launched to the mainnet in 2022, the IMX token achieved its highest market capitalization in March 2024 by reaching 5.4 billion dollars. The following 9 months witnessed a gradual reversal of the cap and it recently reached 2 billion cap. Despite the fluctuations in the price, the coin has strong foundational values and use cases to become a good candidate for long-term hodling.
Conclusion
Immutable X seems like a platform that will surge soon after the crypto market is again engaged with the NFT season. Let it receive a positive verdict from the SEC’s case soon so that we can see it booming.
IMX is a potent token for long-term HODLing. However, try to do your own deep research before delving into immature investment decisions. You can find data for research in Immutable X’s whitepaper, docs, and blog. Also, try to engage with its community.
