IMX jumps 15% as SEC ends Immutable probe

Immutable’s (CRYPTO:IMX) IMX token surged 15% on March 25 after the Web3 gaming firm announced the U.S. Securities and Exchange Commission (SEC) had closed its investigation without finding violations.

The token briefly reached $0.74—its highest level since early March—before retracing to $0.67, per CoinMarketCap.

The SEC’s decision to drop the probe, which began with a November 2023 Wells notice, marked a pivotal moment for Immutable.

“After a year of fighting, this threat to digital ownership rights has finally been put to rest,” co-founder Robbie Ferguson stated, calling it “an enormous win for Web3 gaming.”

IMX’s rally contrasted with its muted reaction to the Wells notice in November, when broader market sentiment was buoyed by Donald Trump’s election prospects.

The token had slumped to $0.46 by March 11 amid macroeconomic uncertainty, including tariff and interest rate concerns.

While IMX’s short-term gains were notable, the gaming token sector remains mixed.

Over the past month, the total market cap for gaming tokens fell 3.65% to $13.13 billion, with trading volume dropping 33.45%.

Peers like Gala (CRYPTO:GALA) and The Sandbox (CRYPTO:SAND) saw smaller gains, up 2.78% and 3.78%, respectively.

Immutable’s case aligns with the SEC’s post-Trump regulatory shift, which has seen enforcement actions against crypto firms scaled back.

The outcome could bolster confidence in Web3 gaming, though sector-wide adoption remains tied to broader crypto market trends.

IMX’s all-time high of $9.32 in November 2021 underscores its volatility, driven by speculative interest in gaming tokens.

While analysts speculate about a renewed rally, the sector’s reliance on macroeconomic stability and institutional adoption leaves room for scepticism.

For now, Immutable’s SEC resolution offers a reprieve, but sustained growth hinges on market sentiment and regulatory clarity.

At the time of reporting, the Immutable (IMX) price was $0.6756.