Immutable X gains 50% following the close of a $200M fundraising round By Cointelegraph

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Nonfungible token (NFT) projects have been hard hit by the price decline across the cryptocurrency ecosystem and the current bearish conditions have spared few tokens from a price collapse.

One project that is attempting to get back on solid footing is Immutable X (IMX), an NFT-focused layer-2 scaling solution for the network designed to offer near-instant transactions and zero gas fees for minting and trading.

IMX/USDT 4-hour chart. Source: TradingView
OpenSea monthly volume on Ethereum. Source: Dune Analytics
VORTECS™ Score (green) vs. IMX price. Source: Cointelegraph Markets Pro