South Korean Investors Turned to This Altcoin, The Price Increased by 40 Percent!

Bitcoin, which dropped to $26,800 after the FED decision announced last night and FED Chairman Powell’s statements, is currently at the $27,000 limit.

While there was no noticeable movement in any direction in BTC, ImmutableX (IMX) experienced an increase of up to 40%.

It is considered that South Korean investors are behind this rise. Because the IMX-KRW trading pair experienced a big hit on Upbit, one of the country’s largest cryptocurrency exchanges.

Accordingly, the IMX-Korean won (IMX/KRW) pair listed on the Upbit exchange accounted for approximately 20% of the global trading volume.

Apart from Upbit, the IMX/USDT pair listed on Binance contributed 7% to the total global volume.

At this point, Lookonchain, sharing about the rise of IMX, stated that the price of IMX had skyrocketed and announced that it had accumulated 12.53 million IMX (worth $9.45 million) with the rise of wallets connected to Upbit.

Stating that these IMXs were transferred to the “0x2F77” wallet, Lookonchain said that the “0x2F77” wallet currently holds 20.4 million IMX worth $15 million and is the ninth largest wallet holding IMX.

“IMX price skyrocketed 35% today.

We noticed that Upbit wallets accumulate IMX. However, investors/institutions also deposited IMX into the stock markets after the price increase.

At this point, Upbit accumulated 12.53 million IMX ($9.45 million worth) in the last 3 hours and transferred it to wallet “0x2F77”.

“Wallet 0x2F77 is the ninth largest IMX wallet, currently holding 20.4 million IMX ($15 million).”

IMX, which rose to $0.796 with its rise, continues to be traded at $0.693 at the time of writing.

1/ The price of $IMX skyrocketed by 35% today.

We noticed that #Upbit wallets were accumulating $IMX.

And investors/institutions were depositing $IMX to exchanges after the price increase. pic.twitter.com/brWNourpoi

— Lookonchain (@lookonchain) September 21, 2023

*This is not investment advice.