The cryptocurrency market has been green for the past 24 hours. One of the closely followed cryptocurrency analysts especially draws attention to this metaverse coin project. According to the analyst, this week is bullish and you are lucky to be prepared in advance. As Koindeks.com, we convey to you the metaverse coin, which is on the analyst’s radar.
This metaverse coin project prepares for the rise
The metaverse coin Immutable X, which the analyst follows closely, states that it is one of the projects that will grow again with the resumption of the bull period. The analyst says investors are currently looking for projects that provide investment. However, Immutable X does this. There is an important development in the project, which was announced in June.
The Metaverse coin project has $500 million in developer and venture funding. But the most valuable is the fastest Layer 2 rollup for Ethereum. As such, this developer funding and the availability of fast, inexpensive solutions for games are helping Immutable X grow. It also announced its partnership with Gamestop for the NFT market this week.
254 million tokens unlocked
Analyst, who closely examined Immutable X a few months ago, conveys the developments in the metaverse coin. He states that Squad and more should be known about the cost boost of having Layer 2 for games and NFTs. On Friday, 254 million tokens will be unlocked. It’s known as a segment of Immutable X that all payouts and rewards have a lock-in period. This 254 million accounts for 12.7 percent of the total supply. That means lots of tokens. The analyst says there are more tokens.
- Percentage of tokens locked as of today: 74 percent or just under 1.5 million IMX
- Percentage of unlocked tokens as of today: 26 percent or 510 million
The analyst says the following about the metaverse coin:
So when you look at these numbers, what actually happens is this. The number of unlocked tokens circulating increased by 50 percent from 510 million to 764 million. That’s when we add the 254 million that were released this week.
The number of locked tokens is still more than 50 percent. It will be 74 percent today and 62 percent after Friday.
According to the analyst, the metaverse coin is preparing to rise
The analyst says this development provides a long-term buying opportunity. The analyst shared the following in his image sharing:
If you haven’t seen this before, short-term bearish and long-term bullish together look like this. Definitely a little weird. But if you love IMX and its fundamentals and the opportunity to grow, this metaverse coin changes nothing. So, wait for the base, then buy. A big rise could come. Final advice. IMX is currently at 62c. Don’t worry about trying to catch at the bottom. If it drops 15 percent to 20 percent and you like the price there, buy it. Or step up by buying some head-to-toe. Professionals do this kind of thing.