IMX unlocks $2.7 million worth of tokens in one week. Can the recent rally continue?

Immutable X (IMX) is about to undergo a token unlock event. According to the latest news, approximately 9.62 million IMX tokens, valued at around $2.7 million, will be unlocked at 8:00 AM Beijing time on January 24. While this unlock scale is not particularly large, considering IMX’s current market performance and circulation status, it still warrants market attention.

Unlock Scale and Market Context

Unlock Data Summary

The key data for this unlock are as follows:

Current Market Situation of IMX

IMX is currently ranked 88th in the cryptocurrency market cap rankings, with a market cap of about $558 million. More notably, the circulating supply has reached 99.45% of the total supply, indicating that the token release for the project has largely been completed, and the marginal impact of subsequent unlocks will be relatively limited.

IMX’s market performance is relatively positive at present. Over the past 24 hours, the price has increased by 5.02%; over the past 7 days, by 5.25%; and over the past 30 days, by 20.78%. The 24-hour trading volume is approximately $27.65 million, indicating normal market liquidity.

Dimensions of Unlock Impact

Supply Pressure Assessment

The unlock of 9.62 million IMX tokens is relatively moderate. Considering the total supply of 2 billion IMX, this unlock accounts for only 0.048%. In comparison, the circulating supply has already reached 99.45%, meaning most tokens have already entered the market. Therefore, this unlock is unlikely to cause severe supply shocks.

Market Absorption Capacity

Looking at the 24-hour trading volume, IMX’s average daily trading volume is about $27.65 million. The $2.7 million worth of tokens being unlocked represents roughly 10% of the daily trading volume, a proportion that can be absorbed by a market with sufficient liquidity. The market’s liquidity is adequate to handle this scale of unlock.

Historical Pattern Reference

Token unlocks often attract market attention before and after the event. Based on experience, if the project’s fundamentals are stable and market sentiment is positive, small-scale unlocks usually do not cause significant declines. Conversely, if the market is weak or has negative expectations, unlocks can become pressure points.

Key Points to Watch Moving Forward

From a personal perspective, the key factors for this unlock are market sentiment before the event and the behavior of large buyers afterward. If IMX can maintain its recent upward momentum, the unlock may only be a short-term technical test. However, if the market experiences a correction before the unlock, it could exacerbate selling pressure.

It is worth noting that the circulating supply of IMX has been largely released, so subsequent unlock pressures should not be too significant. This is positive for the project’s long-term development, as supply-side uncertainty decreases.

Summary

IMX is set to unlock approximately $2.7 million worth of tokens in about a week. The scale is moderate, accounting for less than 0.05% of the total supply. Given that 99.45% of IMX is already in circulation and market liquidity is sufficient, the immediate impact of this unlock should be limited. The key factors are market sentiment before and after the event—if sentiment remains positive, small-scale unlocks often present buying opportunities; if the market is weak, unlocks may add additional pressure. Investors are advised to monitor price movements and trading volume around the unlock to gauge market sentiment.