IMX’s recent rally is driven mainly by off-chain flows and derivative inflows rather than on-chain usage; for IMX to reclaim a $1.5 billion market cap it must clear resistance at $0.713–$0.75 and sustain higher spot and futures capital inflows.
On-chain activity low: daily transactions ~128, active addresses ~100.
Off-chain accumulation and derivatives inflows added roughly $16M OI and $781k spot accumulation.
Key resistance at $0.713–$0.75 must be breached for a $1.5B market-cap reclaim (Fibonacci-confirmed).
IMX price outlook: IMX driven by off-chain inflows and derivatives; watch $0.713–$0.75 resistance. Read the analysis and next steps.
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What drove IMX’s recent price rally?
IMX’s price rally was led by off‑chain accumulation and increased derivatives activity, while on‑chain metrics remained flat. Spot exchange netflow and a $16 million inflow to Open Interest indicate capital was deployed off‑chain and in derivatives contracts, supporting the short‑term upswing.
How significant is on‑chain activity for IMX now?
On‑chain usage is currently minimal. Daily transactions held around 128 and active addresses hovered near 100, suggesting retention but no net growth in user activity. This weak on‑chain footprint implies price moves are not backed by rising on‑chain adoption at present. Source: Artemis (data referenced as plain text).
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Spot exchange netflows showed net accumulation of about $781,000, while derivatives recorded a notable Open Interest inflow of approximately $16 million. A positive funding rate (around 0.0035%) signaled a dominance of long contracts, which amplified upward price pressure independent of on‑chain transaction growth. Source: CoinGlass and derivatives market data (referenced as plain text).
For IMX to re‑enter the $1.5B market‑cap range it needs sustained capital inflows and a successful breach of resistances around $0.713 and up to $0.75. Chart analysis using Fibonacci retracements indicates the $0.713 level as the immediate barrier; trading above $0.75 would make the $1.5B threshold more attainable.
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