- 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.
According to Santiment, Immutable X created 309 new wallets in a single day. That number marked the highest level of new wallet creation since March, signaling renewed adoption. Moreover, exchange supply dropped to 7.33% of total circulation, the lowest since May. Hence, investors appear increasingly willing to hold their IMX tokens rather than sell them.
Network Growth at Multi-Month Highs
Wallet creation data confirms growing momentum in the Immutable X ecosystem. Activity during July and August showed periodic spikes, but September delivered a clear breakout. Additionally, the 309 new wallets reflect a four-month high, showing that user adoption is accelerating at the fastest pace in months.
The data also shows that network growth often precedes price rallies. Consequently, the expansion in wallets likely provided early signals of the breakout. Besides, higher trading volume supported the surge, suggesting genuine demand instead of short-lived speculation.
Exchange Supply Declines Drive Confidence
Immutable X’s exchange supply dropped steadily from the summer range of 8–9%. The decline accelerated in September, coinciding with the price rally. Moreover, reduced supply on exchanges often signals lower selling pressure, which supports upward momentum.
The alignment between falling exchange balances and price growth highlights a strong holding sentiment. Additionally, the scarcity effect amplified gains, pushing IMX into multi-month highs. Technical indicators also confirmed the synchronization of network growth, trading activity, and supply reduction.
These combined dynamics show a balanced rally driven by fundamentals rather than hype. Hence, Immutable X now sits at a unique position where adoption, scarcity, and price momentum reinforce each other.
Immutable X’s surge reflects the power of fundamentals driving crypto markets. Strong adoption and reduced supply create conditions that could sustain growth if momentum continues.
