Source: Cointelegraph Original: "{title}"
The token IMX, associated with the crypto gaming giant Immutable, surged 15% after the company announced that the SEC has closed its investigation and will not take further action.
The IMX token rose approximately 15% on March 25, reaching nearly $0.74. The token skyrocketed right after Immutable announced that the SEC had closed the investigation and confirmed that no violations were found. Immutable stated that this marks the completion of the "closure" regarding the Wells notice issued by the SEC last year.
This is the highest price IMX has reached since March 3, after which the entire market declined due to uncertainties surrounding U.S. President Donald Trump's tariffs and U.S. interest rates, causing IMX to drop to $0.46 on March 11.
According to CoinMarketCap, as of the time of writing, IMX has rebounded to $0.67. According to CoinGlass, if the IMX price rises to $0.70, approximately $449,500 in short positions will be cleared.
IMX has increased by 0.34% over the past 30 days. Source: CoinMarketCap
Despite the significant rise in the IMX token price following the positive news, the price barely changed when Immutable announced receiving the Wells notice last November. However, the market had already begun to gain momentum days before Trump won the election.
Immutable co-founder Robbie Ferguson stated in a post on X on March 25 that the SEC's withdrawal of the investigation against Immutable is a "huge victory for Web3 gaming."
"After a year of struggle, the threat to digital ownership rights has finally been completely eliminated," Ferguson said.
Among several leading crypto gaming tokens by market capitalization, several have seen increases in the past 24 hours. Gala (GALA) rose by 2.78%, The Sandbox (SAND) increased by 3.78%, FLOKI (FLOKI) went up by 1.91%, and Axie Infinity (AXS) climbed by 1.50%.
IMX reached an all-time high of $9.32 in November 2021, during a massive rebound of gaming tokens. Speculation continues about when gaming tokens will experience another significant surge, as they typically start to rise after the entire crypto market has already surged.
However, over the past 30 days, the total market capitalization of gaming tokens has decreased by 3.65%, falling to $13.13 billion, while trading volume has been impacted even more, dropping by 33.45% to $1.75 billion.
Related: GameStop hints at potential future Bitcoin (BTC) purchases after board approval
This article does not contain investment opinions or advice. Every investment and trading activity involves risks, and readers should conduct their own research before making decisions.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
