Price of Altcoin IMX Soars by 70% After Completion of Last Financing Round

Crypto project Immutable X has announced it has completed its Series C funding round, in which it managed to raise $200 million. According to analysts, the price of the altcoin IMX has jumped by 70% after the news broke.

Multiple startups such as Immutable X, focused on the promotion of NFT-related projects, have been in the epicenter of a sharp drop in prices due to the current unstable situation in the crypto market. Not many managed to “stand on their feet,” and even more so, to increase their profits.

However, Immutable X has been lucky in this aspect. According to experts, its active cooperation with Ethereum and the provision of instant transactions with almost zero commissions have allowed the ecosystem to survive.

According to the analysis of experts, the IMX token was able to outperform many of its altcoin counterparts in price. As of today, the value of the coin is $1.86. On March 7, the situation was completely different. On that day, IMX hit its all-time low, as the asset was trading at $1.09.