Bitcoin Hovers Below $48K; Immutable X Soars

Despite bitcoin (BTC) starting the week lower, the leading cryptocurrency by market value has risen more than 13% in the seven days to Feb. 12, the biggest one-week gain since October. The CoinDesk 20 Index, a measure of the biggest cryptocurrencies, added 11%. Continued inflows into the U.S.-based spot BTC exchange-traded funds (ETFs) probably overshadowed reports of bankrupt crypto lender Genesis seeking approval to liquidate its $1.6 billion bitcoin holdings. Ether (ETH) was down almost 2% on Monday and bitcoin lost around 1%. The token of Immutable X (IMX), a layer-2 scaling solution on Ethereum that focuses on NFTs and gaming, jumped as much as 8% over the same period. IMX has gained 33% in seven days. At the end of January Immutable launched zkEVM early stage mainnet access. The ecosystem is supposed to help games thrive, offering gas-free interaction for gamers and smart contract compatibility.

Source: https://www.coindesk.com/markets/2024/02/12/first-mover-americas-bitcoin-hovers-below-48k-immutable-x-soars/?utm_medium=referral&utm_source=rss&utm_campaign=headlines