Immutable X gains 50% after closing $200 million fundraising

Non-fungible token (NFT) projects have been hit hard by falling prices in the cryptocurrency ecosystem and the current bearish conditions have spared few tokens from a price crash.

One project trying to get back on solid ground is Immutable X (IMX), an NFT-focused Layer 2 scaling solution for the network designed to deliver near-instantaneous transactions and zero gas fees for the strikes and trade.

IMX/USDT 4 hour chart. Source: Trading View
OpenSea monthly volume on Ethereum. Source: Dune Analysis
VORTECS™ score (green) versus IMX price. Source: Cointelegraph Markets Pro

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