{"id":125824,"date":"2025-03-26T06:18:11","date_gmt":"2025-03-26T06:18:11","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125824"},"modified":"2025-03-26T06:18:11","modified_gmt":"2025-03-26T06:18:11","slug":"imx-surges-15-after-immutable-says-sec-ended-probe","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125824","title":{"rendered":"IMX surges 15% after Immutable says SEC ended probe"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe token tied to the crypto gaming giant Immutable surged 15% in the hours after it announced that the US Securities and Exchange Commission closed its investigation into the firm and would take no further action.<br \/>\nThe Immutable (IMX) token rose around 15% on March 25 to reach just under $0.74 shortly after the firm announced that the SEC shut its inquiry without any breach of violations, which Immutable said closed \u201cthe loop on the Wells notice issued by the SEC last year.\u201d\u00a0<br \/>\nIMX matched crypto market downtrend<br \/>\nIt is the highest price that IMX has reached since March 3, before a broader market decline \u2014 driven by prolonged uncertainty over US President Donald Trump\u2019s tariffs and US interest rates \u2014 pushed it down to $0.46 on March 11.<br \/>\nAt the time of publication, IMX had retraced back to $0.67, according to CoinMarketCap. A move back toward $0.70 would wipe approximately $449,500 in short positions, according to CoinGlass data.<br \/>\nIMX is up 0.34% over the past 30 days. Source: CoinMarketCapWhile the token price surged on the positive news, it barely moved when Immutable announced in November it had been issued a Wells notice. However, the broader market was already gaining momentum as Trump\u2019s odds to win the election looked strong in the days before his eventual win on Nov. 5.<br \/>\nImmutable co-founder Robbie Ferguson said in a March 25 X post that the SEC\u2019s dropped investigation was \u201can enormous win for Web3 gaming.\u201d<br \/>\n\u201cAfter a year of fighting, this threat to digital ownership rights has finally been put to rest,\u201d Ferguson said.<br \/>\nRelated: Crypto influencer Ben \u2018Bitboy\u2019 Armstrong arrested in Florida<br \/>\nAmong the top gaming crypto tokens by market cap, several have seen an upswing over the past 24 hours. Gala (GALA) is up 2.78%, The Sandbox (SAND) is up 3.78%, FLOKI (FLOKI) is up 1.91%, and Axie Infinity (AXS) is up 1.50%.<br \/>\nIMX hit its all-time high of $9.32 in November 2021 during a major rally in gaming tokens. There\u2019s been speculation about when gaming tokens will experience another significant uptrend, as they\u2019ve historically surged after the broader crypto market moves first.<br \/>\nHowever, over the past 30 days, the total market cap of gaming tokens has dropped 3.65% to $13.13 billion, while trading volume has taken a bigger hit, falling 33.45% to $1.75 billion.<br \/>\nMagazine: What are native rollups? Full guide to Ethereum\u2019s latest innovation<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/immutable-crypto-token-imx-surges-after-sec-drops-probe?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe token tied to the crypto gaming giant Immutable surged 15% in the hours after it announced that the US Securities and Exchange Commission closed its investigation into&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125824"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125824"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125824\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125824"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}