Immutable X surged roughly 70% in September as rapid wallet growth and falling exchange supply combined to boost demand and reduce sell pressure; on‑chain metrics from Santiment show new wallet creation and exchange balances moved in sync with the price rally, indicating fundamentals-driven momentum.
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IMX gained ~70% in two weeks due to rising adoption and shrinking exchange supply.
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Daily new wallets hit 309 (Santiment), the highest since March, signaling renewed network adoption.
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Exchange supply fell to 7.33% of circulation, a six-month low, supporting scarcity-driven upside.
Immutable X surge: IMX rallied ~70% as wallets increased and exchange supply fell—read on for data-backed analysis and next steps.
Immutable X jumped 70% in September, fueled by soaring wallet growth and shrinking exchange supply, pointing to real investor confidence.
- Immutable X soared 70% in just two weeks as new wallets surged and fewer tokens sat on exchanges, showing strong holder confidence.
- With 309 wallets created in a single day and supply dropping to six-month lows, Immutable X shows real adoption is driving growth.
- The rally reflects fundamentals as adoption, volume, and scarcity move together, making Immutable X momentum feel stronger and more genuine.
Immutable X has recorded explosive growth in September, pushing its market cap more than 70% higher in just two weeks. The surge coincided with rapid network expansion and a sharp drop in exchange supply, pointing to strong investor confidence.
What is driving the Immutable X surge?
Immutable X surge is primarily driven by rising user adoption and falling exchange balances. On‑chain data shows daily new wallet creation spiked to 309 in a day (Santiment), while exchange supply slid to 7.33% of circulation — a pairing that reduced sell pressure and supported the price rally.
How did wallet growth and exchange supply move together?
Wallet creation reached its highest single‑day level since March, marking renewed onboarding of users. At the same time, exchange supply declined from a summer range of 8–9% down to 7.33%, the lowest in months.
When new wallets increase while exchange balances drop, the market often sees higher holding sentiment. This alignment suggests more tokens moved into private wallets or were otherwise taken off exchanges, constraining available sell-side liquidity.
Source: Santiment
Why does falling exchange supply matter?
Falling exchange supply reduces immediate selling pressure. When fewer tokens sit on exchanges, large sell orders are harder to execute without moving the market.
For IMX, the decline to a six‑month low in exchange balances coincided with rising volume, creating a scarcity effect that can magnify price moves while adoption grows.
What do analysts and data say?
COINOTAG analysis notes that synchronized improvements across wallets, volume, and exchange supply indicate a balanced rally. Santiment’s on‑chain metrics are cited as the data source for wallet and exchange figures (presented as plain text).
COINOTAG analyst: “When wallet growth and falling exchange balances align with rising volume, rallies are more likely to reflect real adoption rather than short‑lived speculation,” said a COINOTAG on‑chain analyst.
Frequently Asked Questions
How many new wallets did Immutable X create in a day?
Immutable X registered 309 new wallets in a single day, the highest daily figure since March according to Santiment data, signaling renewed user interest and adoption.
Is the IMX rally sustainable?
Sustainability depends on continued adoption, sustained trading volume, and persistent low exchange supply. Current on‑chain alignment points to stronger odds for continued momentum, but markets remain dynamic.
Key Takeaways
- Adoption-led rally: New wallet creation surged, indicating genuine user interest.
- Scarcity effect: Exchange supply fell to ~7.33%, reducing sell-side liquidity.
- Data-backed momentum: Wallet growth, volume, and supply moved together — a bullish signal to monitor.
Conclusion
The Immutable X surge underscores how adoption and scarcity can combine to produce durable market moves. With new wallets rising and exchange supply at multi-month lows, IMX’s rally appears grounded in fundamentals. Readers should monitor ongoing wallet trends, exchange balances, and trading volume for signs of continuation or reversal. For more on-chain analysis, follow COINOTAG coverage and data updates.
