Immutable’s native token (IMX) has experienced a significant rebound after a prolonged period of decline, igniting renewed interest among traders, whales, and major gaming partners. Currently trading around $0.71, it boasts a market capitalization of nearly $1.38 billion, marking a notable recovery despite still being approximately 93% below its all-time high of $5.75 in 2021.
Whale Activity Fuels Market Momentum
One of the clearest indicators of renewed confidence in IMX comes from major investors. On September 13, on-chain data revealed that a whale had purchased 4.55 million IMX tokens, valued at around $3.2 million at the time. This purchase coincided with a 23% increase in significant transactions, effectively triggering the current rally.
The overall whale activity surged over 360% in recent weeks, signaling a return of capital to the token. Such massive purchases not only add liquidity but also indicate confidence that IMX has more upside potential.
With a 24-hour turnover ratio averaging 6.2%, trading activity has remained robust enough to support the bullish movement without any signs of weakening momentum. Should whale wallets continue to hold rather than take profits, the token could maintain its upward trajectory in the short term.
Partnerships Boost Immutable’s Credibility
Beyond trading dynamics, Immutable is also riding a wave of optimism fueled by significant gaming partnerships. Ubisoft, a leading name in the global gaming industry, recently announced the launch of its collectible card game, Might and Magic Fates, on Immutable Play, leveraging Immutable’s zkEVM technology for gasless NFT transactions. This was highlighted at Gamescom 2025, underscoring the studio’s commitment to exploring Web3 gaming through Immutable’s infrastructure.
Similarly, Netmarble has partnered with Immutable in an agreement that allows creators to promote upcoming titles, including those linked to the popular franchise, Solo Leveling. This announcement on September 11 coincided with IMX breaking out of a short-term symmetrical triangle pattern, generating bullish signals among technical traders and enhancing community sentiment.
So far, the network has integrated over 660 games and built a user base exceeding 5.6 million, as reported by the community. Notably, on September 15, the co-founder revealed that multiple multigenerational Web2 franchises are gearing up to integrate, potentially opening the door to anime and mainstream entertainment IPs.
These partnerships are crucial as nearly 97% of the total IMX supply is already in circulation, and increased utilization within the gaming industry mitigates the risk of token inflation, unlike many other tokens that still have significant portions of their supply yet to be released. This positions Immutable (IMX) with a more solid foundation for sustainable price growth.
Technical Breakout Attracts Traders Again
From a technical standpoint, IMX’s recent breakout from its symmetrical triangle formation marks the first significant bullish signal after a protracted downtrend since 2021. Notably, the rebound from its demand zone is a critical shift that could propel the token toward the psychological level of $1.00 if momentum persists.
Some analysts even suggest that the configuration could lead to a short-term increase of 40% to 60%. The convergence of whale activity, gaming partnerships, ecosystem expansion, and technical strength has rekindled confidence that Immutable may finally turn a corner after years of correction. While risks remain and the token is still far from its previous highs, price forecasts indicate that investors and industry partners are wagering that IMX’s next chapter could be one of growth rather than decline.
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