Immutable’s IMX can also be the fifth-best performing high 100 cryptocurrency of the previous seven days.
Immutable, an Ethereum Layer 2 focussed on GameFI and NFTs, is having fun with a powerful run, with each the community’s TVL and the value of its IMX token token topping the rankings leaderboard this previous week.
Immutable boasts the biggest proportion progress by way of whole worth locked (TVL) over the previous seven days with 27%, in response to L2beat. Immutable’s TVL posted at an all-time excessive of $271M earlier in the present day, edging out its earlier excessive from two months in the past by $1M.
Immutable’s native IMX token additionally ranks because the fifth-best performing high 100 cryptocurrency for the previous seven days after rallying 33.6%. IMX final modified palms for $2.90, giving the asset a $3.93B market cap to rank because the Twenty fourth-largest cryptocurrency total.
Immutable’s on-chain exercise has equally loved an up-tick of 13.3% over the previous seven days. Nevertheless, the metric sits comparatively low in comparison with different Layer 2 networks at simply 2.13 transactions per second on common over the previous 24 hours.
Immutable zkEVM
Immutable’s spectacular run follows the early entry mainnet launch of Immutable zkEVM, its new gaming-focused rollup leveraging zero-knowledge expertise from Polygon.
Zero-knowledge rollups arguably provide the best efficiency amongst Layer 2 scaling options, enabling pace and throughput benefits over rival L2s. Crucially, Immutable zkEVM helps Ethereum Digital Machine sensible contracts, that means builders can simply port code over from Ethereum. Against this, Immutable X doesn’t help sensible contract performance, with builders constructing on high of pre-defined APIs.
Robbie Ferguson, Immutable’s co-founder and president, mentioned greater than 200 video games have already dedicated to launching on its new zkEVM because the community rolls out.
Nevertheless, the continued progress of the unique Immutable community evidences that the Layer 2 nonetheless serves a large neighborhood of builders and customers regardless of the rollout of Immutable zkEVM.
Immutable presently hosts greater than 220 web3 video games together with main titles Gods Unchained and Illuvium, and boasts partnerships with Ubisoft and Amazon.
