{"id":10646,"date":"2022-03-14T11:19:26","date_gmt":"2022-03-14T11:19:26","guid":{"rendered":"https:\/\/egrowonline.com\/?p=10646"},"modified":"2022-03-14T11:19:26","modified_gmt":"2022-03-14T11:19:26","slug":"ethereum-scaling-altcoin-surges-79-in-just-one-week-after-200000000-funding-raise","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=10646","title":{"rendered":"Ethereum Scaling Altcoin Surges 79% in Just One Week After $200,000,000 Funding Raise"},"content":{"rendered":"


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An altcoin focused on the non-fungible token (NFT) sector has surged while most of the digital asset markets consolidate or trend down.<\/p>\n

Immutable X (IMX) is a scaling solution for Ethereum NFTs that aims to provide users with near-instant, low fee transactions.<\/p>\n

According to the project, the Immutable X engine allows for 9,000 transactions per second. IMX, the project\u2019s native token, can be used for staking, fees, and governance.<\/p>\n

Last week, Immutable X locked in $200,000,000 in funding led by state-backed Singaporean holding company Temasek.<\/p>\n

Following news of the funding raise, IMX kicked off a sizeable rally, jumping from $1.10 on March 7th to $1.97 by March 13th for a 79% rise in less than a week. In the same timeframe, Bitcoin and Ethereum traded almost completely flat.<\/p>\n

At time of writing, IMX<\/a> is priced at $1.71, down on the day but still nearly 50% up on the week.<\/p>\n

According to a press release<\/a>, Immutable X will use the new capital to work on its plans for global expansion, accelerate its growth, and scale the Immutable Gaming Studio, the company\u2019s game development department.<\/p>\n

It also hired a slew of new executives to support \u201crapid expansion.\u201d<\/p>\n

Companies currently building on Immutable X include GameStop, TikTok, Opensea, Ember Sword, Illuvium, GreenPark Sports, and Gary Vee (Vee Friends).<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/FrameStockFootages<\/em><\/span><\/p>\n<\/p><\/div>\n


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An altcoin focused on the non-fungible token (NFT) sector has surged while most of the digital asset markets consolidate or trend down. Immutable X (IMX) is a scaling solution for Ethereum NFTs that aims to provide users with near-instant, low fee transactions. According to the project, the Immutable X engine allows for 9,000 transactions per […]<\/p>\n","protected":false},"author":1,"featured_media":10647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[349,158,901,991,1975,1731,339],"class_list":["post-10646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-altcoin","tag-ethereum","tag-funding","tag-raise","tag-scaling","tag-surges","tag-week"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/analyzing-coins-news.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10646"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10646\/revisions"}],"predecessor-version":[{"id":10648,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/10646\/revisions\/10648"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/10647"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10646"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}