IMX-USDT fundamentals behind the ticker (PLEASE READ)Hello, thank you for coming today 🙂
Short Technical Analysis:
Warning ❗❗❗ Stochastic is currently extremely overclocked on 4hr view. Picture is more for fun, this post is to explain fundamentals of this project/token.
The price action has led to a surge in demand as IMX pushes up towards ATH. You might want to keep an eye on this one. It pulled another 20 percent in the first 4 hours of the day today.
⚡I will try to keep this post updated with more accurate TA as we go on.
⚡Note that this is more a fundamental/Hodl approach and it is possible that we see a correction in the price before more bullish activity.
⚡Invest at your own risk.
⚡See post in link where I went in depth into explaining why this project would explode before it happened
Fundamental dive: 👋💭💭💭
This chart is a little wild👽 so let me explain.⏬⏬⏬
Starkware technology partnered with Immutable creating IMX. NOTE📌 that Immutable used to be called Gods Unchained, once the devs(developers) of the game started to branch off with Starkware to create more utility for their name in the metaverse, they rebranded to be considered Immutable, which entails much more than just the Game Gods Unchained as of late. The fact that these two big names came together to birth Immutable X 👶, is surely being reflected in the price, as you can see above.📈
So now that we know how Immutable X was created, let's get more into what it entails.😀
Immutable X (IMX) is a layer 2 scaling solution built on top of Ethereum.
Created to be an NFT marketplace 🎴🕹🖼 by Immutable, (also the company behind God's Unchained,) Immutable X utilizes zk rollups or 'zero knowledge proofs,` to reduce the gas frees that we've all learned to dread on Ethereum.
📌NOTE⚛📝📌 Immutable X can perform up to 9,000 transactions per second through the use of it's zero knowledge proof rollup system. This easy way to verify transactions on the Immutable X also means there are no gas fees 🤞🚗
The marketplace (Immutable X) first held only God's Unchained cards, now some pretty big names such as Tik Tok use it to sell their influencers NFT's. More yet, Disney, Marvel and the ESL are now building on Immutable X. Coinbase itself is invested in the project and this information is stated on their website. The beautiful thing is that anyone can utilize the API⏩ (software that connects applications) and build on IMX if they decide to. The games Guild of Guardians and Illuvium are being made to compete with AXS ( Axis) and will be building on IMX.
An important note is the Coinlist FUD
The people that bought IMX presale through Coinlist, didn't get their tokens until the 9th of this month, despite the coin coming out on the 5th.
You can see how the chart dumped from previous mentioned point A to point B, but in reality it was just psychological.👌
Furthermore, a substantial amount of IMX was actually airdropped to the holders of God's Unchained cards. Priority in the pre-sale was also given to early supporters of Gods Unchained (explained in depth in previous post.)
Tik Tok influencers are starting to talk about IMX. The Crypto Stache was asked on Around the Blockchain days ago what his most bullish pick was for the week a few days prior and he responded IMX. The man was dead A💲💲 accurate..
💫💫💫 As we know, Bitcoin fell recently from ATH and the market bled, simultaneously, IMX pulled 40 percent gains and it looks like it's only just begun. It's not too far out to imagine Coinbase mafia listing their partner in the future🕞🕖. It got listed on 8 exchanges one day, including FTX which is pretty dang impressive⭐🔥.
The easiest way to buy in U.S is probably SushiSwap . It seemed pretty suspect when they decided instead of airdropping IMX to the U.S, they gave two options: A.The amount of IMX you would have been airdropped, but in USDC at ten cents per coin like the first presale price. B USDC reflecting the average price of IMX every day for thirty days. Safe to say some people are actually crying themselves to sleep right now because basic math is hard for them and they chose option A .🤣
If you'd like to learn more I strongly recommend you hit up Immutable X discord and go to degenerate price talk. There's a lot of speculation going on in this one right now. So much that they decided to create this channel (degenerate price talk) for us to discuss price and for some people to FUD their brains out. Not seeming to work so well for the fudders post launch, they are looking pretty wrecked atm. Unfortunately there were noobs that listened to some of these fudders and thought the coinlist release would push the price sub 2 and even 1 dollar. The equivalent to taking advice from some of the trolls on TV basically. Keep an eye on this one guys because anything could happen here. IMO the FOMO has only just begun and the Tik Tok influencers such as Gary V, are and will continue to be telling all their followers about IMX, which will in turn leave them hungry to get into crypto, in conjunction with the headlines they have been seeing everywhere during this bull-run about how cryptos gone mainstream. I'm letting all these big players do the lifting for me at this point because this one is only just started to go off and everyone is going to be talking about it soon, they don't even know it yet🐶.
🛑🛑🛑🛑🛑This is not financial advice🛑🛑🛑🛑🛑 I always recommend looking at multiple charts when making a big investment
Always have a stop loss ✋🛑💲 set
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.
Thank you so much
Jazerbay ☯
