Immutable Price Rises by 13% Amid 105% Increase in Trading Volume

The price of Immutable (IMX) token increased by 13 percent over the past day, coinciding with a 105 percent rise in trading volume, reaching $30 million at the time of analysis. The analysis showed that the current price increase is supported by active buying amid insufficient confidence among investors, prompting many to wonder whether this activity is a result of speculation or a bull market. According to CoinMarketCap data, the largest share of IMX volume is provided by three exchanges: HTX, Binance, and Upbit, which together account for more than 30 percent of the total trading volume. This suggests that Asian investors have a significant influence on trading volume, as HTX and Upbit exchanges account for 19.66 percent of the total market volume.

The bullish sentiment is also confirmed by investment flows, as the OI-weighted Funding Rate stands at 0.0040 percent, indicating a predominance of long positions. This means that traders are looking to take more advantageous positions for further growth, and the positive funding rate suggests that investors are not taking excessive risks, which can support price stability. An additional signal was the increase in capital inflow into the perpetual market: usually, a massive price increase is accompanied by an outflow of funds, but in this case, the 24-hour Netflow exceeded $243,000 – investors were increasing exposure rather than reducing it.

However, there is a risk of further price increases due to current sales in the spot market. Over the past day, there has been an increase in spot sales amounting to $364,000, indicating that many investors have taken profits amid recent gains. Moreover, over the last 24 hours, long positions were liquidated for approximately $31,000, while short positions incurred losses of $21,000. In typical bullish conditions, shorts usually incur more losses than longs, but here the picture is reversed – this is a signal of potential risks for future IMX price movements.