IMX surges 15% after Immutable says SEC ended probe 📈
The IMX token, tied to crypto gaming giant Immutable, surged 15% after the U.S. Securities and Exchange Commission concluded its investigation without further action. This announcement marked the closure of the Wells notice issued last year. IMX's price jump is the highest since early March, despite a recent broader market decline.
Despite the positive news, the token's price dipped to $0.67. Immutable co-founder Robbie Ferguson hailed this as a major victory for Web3 gaming, emphasizing digital ownership rights. Amid this, other gaming crypto tokens like GALA and SAND also rose.
Notably, IMX had previously reached an all-time high of $9.32 in November 2021. The gaming token market, however, experienced a recent downturn in both market cap and trading volume.
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