Immutable Climbs 10% While Most Gaming coins Fall With BTC & ETH

IMX is bucking the downward trend Monday following VanEck’s recent vote of confidence in crypto gaming platform Immutable.

The broader market may be down about 5% over the last 24 hours, per CoinGecko, but IMX has climbed a total of 10% during that span to a current price of $2.00. The price did dip briefly late Sunday along with other top tokens, but then quickly rebounded, popping as high as $2.06 early Monday. That’s a 20-month high for the gaming token.

Immutable is an Ethereum gaming platform that’s based around the current Immutable X scaling network, as well as the upcoming Immutable zkEVM network powered by Polygon zkEVM. IMX is now up 41% in the last week alone, pushing the token to an 83% jump in the last 30 days.

Following recent collaboration announcements with Amazon and major game publisher Ubisoft, IMX may have also seen a recent boost following a vote of confidence from investment firm VanEck late last week.