As a crypto user, have you ever felt that Ethereum is less user-friendly and scalable? Are you searching for a cost-effective, highly scalable, and secure alternative to Ethereum?
The Immutable protocol has come up with an innovative platform to ease your user experience with a world-class scalability solution—Immutable X.
Immutable X is a first-of-its-kind layer 2 network that helps users mint and trade NFTs in a more scalable, secure manner but for cheaper rates when compared to Ethereum.
It is a perfect solution to counter Ethreum’s drawbacks such as low scalability, illiquidity, high cost, poor user experience, and poor developer experience.
In this article, you will read more about Immutable X, the principles based on which it works, and its price prediction for 2024-2030.
Immutable X (IMX): How Does it Work?
Immutable X outsmarts Ethereum in terms of scalability, security, and user experience. How does it achieve this target?
Immutable X aims to ensure high-class security and advanced user experience through the following core principles.
2K Roll-Up Scaling Engine
The primary focus of Immutable X is to provide users with high scalability options compared to what is offered by Ethereum.
How do they achieve this goal? Immutable X is designed using Starware’s roll-up technology. Roll-up technology ensures scalability and user experience without compromising security.
The fact that Immutable X’s rollup technology allows for 9,000 NFT transfers, trades, and mints per second vouches for its efficiency over Ethereum.
API Abstraction Layer
Immutable X is wrapped and protected by a number of REST APIs. It transforms complex blockchain transactions and interactions into simple REST API interactions, which saves time and effort for the user.
Immutable X does not require users to engage with smart contracts. So companies and people can launch new projects faster.
NFT-Enabled Wallets
While using Immutable X users need not worry about the complexities of juggling between different NFT wallets.
Immutable’s innovative technology provides a streamlined, NFT-specific wallet experience irrespective of the tasks that you perform on the platform.
Shared Liquidity
Unlike other NFT scaling solutions, Immutable X enables you to create and manage orders from different NFT marketplaces in one place.
Immutable helps you with shared protocol liquidity. You can build an agile third-party marketplace on Immutable X.
Transaction History Explorer
This facility tracks and verifies transaction history to uphold the trust and legitimacy of different marketplaces and ecosystems.
An Immutable X user can therefore be aware of any fraudulent transactions and take the necessary actions to counter such trust-defying attempts.
Immutable X (IMX) Price Prediction (2024- 2030): What should you Expect?
The current price of Immutable X is $ 2.22. This is a fairly decent price as per market trends.
This price is expected to rise by 230.94% and reach $ 7.52 in June 2024. The expected upper price targets of Immutable X for 2025-2030 are given below.
- 2025 – $ 10.69
- 2026 – $ 6.00
- 2027 – $ 4.22
- 2028 – $ 7.20
- 2029 – $ 14.55
- 2030 – $ 9.35
The technical analysis indicators predict neutral sentiments for Immutable X with 67% bullish sentiments and 33% bearish sentiments.
The 200-day simple move average (SMA) will reach $ 2.59 by June 2024 and the 50-day SMA is forecasted to reach $ 3.58. The high 50-day SMA indicates the positive trends in Immutable X’s future price.
Market analysts uphold Immutable X as a profitable crypto investment for the coming years.
What are the factors that make Immutable X a Profitable Investment?
Needless to say, any investor can safely invest in Immutable X in the coming years. It aims to rectify the developer restrictions that traditional blockchain technology imposes on its users.
Any user, irrespective of their developer knowledge can easily build gaming apps and decentralized marketplaces at a significantly low transaction fee.
Immutable X is also a sustainable option for creating a carbon-neutral DeFi ecosystem.
The Bottom Line
2024 is a great year for anyone planning to invest in Immutable X, but similar to any other crypto investment, the price of Immutable X is also subject to changes in market trends and market risks.
So investors should be vigilant and analytical of such trends and risks while making any investment decisions
