{"id":10258,"date":"2025-03-26T09:23:30","date_gmt":"2025-03-26T08:23:30","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=10258"},"modified":"2025-03-26T09:23:30","modified_gmt":"2025-03-26T08:23:30","slug":"immutables-imx-climbs-15-following-sec-investigation-closure","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/03\/26\/immutables-imx-climbs-15-following-sec-investigation-closure\/","title":{"rendered":"Immutable’s IMX Climbs 15% Following SEC Investigation Closure"},"content":{"rendered":"

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The token associated with the cryptocurrency gaming titan Immutable climbed 15% shortly after it revealed that the US Securities and Exchange Commission concluded its investigation into the company and would pursue no further actions.<\/p>\n

The Immutable (IMX<\/a>) token increased by approximately 15% on March 25, reaching just shy of $0.74 immediately after the firm disclosed that the SEC had terminated its inquiry without identifying any violations, which Immutable stated closed<\/a> \u201cthe loop on the Wells notice issued by the SEC last year.\u201d<\/p>\n

IMX mirrored crypto market decline<\/h2>\n

This is the peak price that IMX has attained since March 3, prior to a wider market downturn\u2014prompted by ongoing uncertainty regarding US President Donald Trump\u2019s tariffs and US interest rates\u2014that caused it to drop to $0.46 on March 11.<\/p>\n

At the time this article was published, IMX had retraced to $0.67, as per<\/a> CoinMarketCap. A rebound toward $0.70 could eliminate about $449,500 in short positions, according<\/a> to CoinGlass data.<\/p>\n

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IMX has risen 0.34% over the last 30 days. Source: <\/em>CoinMarketCap<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

While the token’s value surged following the favorable news, it showed little movement when Immutable announced in November that it had received a Wells notice. Nonetheless, the overall market was already gaining traction as Trump\u2019s chances of winning the election appeared strong in the days leading up to his eventual victory on Nov. 5.<\/p>\n

Immutable co-founder Robbie Ferguson stated<\/a> in a March 25 X post that the SEC\u2019s dismissal of the investigation was \u201ca monumental victory for Web3 gaming.\u201d<\/p>\n

\u201cAfter a year of battling, this threat to digital ownership rights has finally been resolved,\u201d Ferguson mentioned.<\/p>\n

Related: <\/strong><\/em>Crypto influencer Ben \u2018Bitboy\u2019 Armstrong arrested in Florida<\/strong><\/em><\/a><\/p>\n

Among the leading gaming crypto tokens ranked by market capitalization, several have experienced an increase over the past 24 hours. Gala (GALA<\/a>) is up 2.78%, The Sandbox (SAND<\/a>) is up 3.78%, FLOKI (FLOKI) is up 1.91%, and Axie Infinity (AXS<\/a>) is up 1.50%.<\/p>\n

IMX reached its all-time peak of $9.32 in November 2021 during a significant rally in gaming tokens. Speculation surrounds when gaming tokens will witness another substantial<\/a> uptrend, as they have historically surged following initial movements in the broader crypto market.<\/p>\n

However, in the past 30 days, the total market capitalization of gaming tokens has declined by 3.65% to $13.13 billion, while trading volume has experienced a significant drop of 33.45% to $1.75 billion.<\/p>\n

Magazine: <\/strong><\/em>What are native rollups? Comprehensive guide to Ethereum\u2019s latest innovation<\/strong><\/em><\/a><\/p>\n

This article does not contain investment guidance or recommendations. Every investment and trading decision carries risk, and readers are encouraged to perform their own research prior to making any choices.<\/p>\n