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Immutable

NFT sales plunge 16.7% to $105.7m, Ethereum sales surge 30%
Crypto Trends

NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

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The NFT market has experienced a strong rally, with sales volume jumping by 37.10% to $144.8 million.

According to data from CryptoSlam, this marks the biggest weekly gain in recent months for the sector.

The spike coincides with Bitcoin’s (BTC) recent climb to the $105,000 mark. Ethereum (ETH) also had a slight 2.5% increase during the previous seven days. Last week, the total global cryptocurrency market cap increased from $3.28 trillion to $3.29 trillion.

Market participation has surged greatly with NFT buyers increasing by 50.56% to 1,061,348, and NFT sellers rising by 8.09% to 38,494. NFT transactions have also grown by 7.88% to 1,749,437.

Immutable dethrones Ethereum in sales

Interestingly, Immutable (IMX) has overtaken Ethereum to claim the top position with $41.7 million in sales. It has surged by 156.01% from the previous week. This is one of the first times Ethereum has lost its leading position in months.

Source: Blockchains by NFT Sales Volume (CryptoSlam)

With $31.5 million in sales, Ethereum has fallen to second position, although it is still showing strong growth of 6.69%. At $1.9 million, Ethereum’s wash trading has dropped by 2.91%.

Bitcoin, at $19.4 million, is still in third place after rising 22.55%. Polygon (POL) has increased 32.91% and is now in fourth place with $18.5 million. Mythos Chain, with $14.1 million, completes the top five.

BNB (BNB) Chain has entered the top rankings in sixth place with $8.4 million, jumping 47.59%. Solana (SOL) sits in seventh with $6.3 million, up 5.30%.

The buyer count has increased across all major blockchains, with Polygon leading at 35.63% growth, followed by Solana at 27.41% and Bitcoin at 23.22%.

Guild of Guardians Heroes has taken the top spot in collection rankings with $24.7 million in sales. It has more than doubled with 132.53% growth. This gaming collection has benefited directly from Immutable’s surge.

Courtyard on Polygon has moved to second place with $17.2 million with a strong growth of 36.33%. Guild of Guardians Avatars holds third position with $10.3 million, more than doubling with 108.61% growth.

DMarket maintains fourth place with $8.9 million, with a minimal growth of 0.15%. Uncategorized Ordinals on Bitcoin have entered the top five with $7.6 million, with a surge of 1,556.66%.

CryptoPunks has disappeared entirely from the top collection rankings, a notable drop from its previous sixth-place position.

Notable high-value sales from this week include:

  • CryptoPunks #1831 sold for 150 ETH ($389,846)
  • CryptoPunks #9778 sold for 150 ETH ($377,958)
  • CryptoPunks #4868 sold for 76.5 ETH ($201,933)
  • CryptoPunks #5586 sold for 70.07 ETH ($185,292)
  • CryptoPunks #7516 sold for 60 ETH ($158,378)



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Immutable price drops even as Guild of Guardians NFT sales jump
NFT Gaming

Immutable price drops even as Guild of Guardians NFT sales jump

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Immutable token retreated this week as market participants reacted to the broader crypto market crash. It also dropped despite welcoming a popular game to its platform and a surge in Guild of Guardians NFT sales.

Immutable (IMX) fell to $0.495 on Friday, down 36% from its May peak and 86% from its high last year. The sharp decline has dragged its market capitalization from $4.6 billion in September to $958 million.

The decline came even after developers announced that Legends of Elumia had migrated to the Immutable network from Ronin. This is notable, as Legends is a fast-growing title acquired by Triumph Games in April and boasts thousands of monthly active players. 

Meanwhile, Immutable’s NFT activity showed notable strength this week. Data indicates that Guild of Guardians Heroes generated $8.89 million in sales, a 61% increase from the same period last week. Guild of Guardians Avatars sales rose by 64% to $4.2 million. In total, Immutable processed $13.7 million in NFT sales this week, up 69% from the previous period.

The next key catalyst for the IMX token is a major unlock scheduled for June 13. It will release 24.52 million tokens, valued at over $12.7 million. Fortunately for investors, IMX unlocks will conclude in October, transitioning the token into a deflationary asset.

Immutable price technical analysis

IMX price chart | Source: crypto.news

The daily chart shows that the IMX price peaked at $0.8100 in May as most cryptocurrencies rallied. It then pulled back to $0.50, its lowest point since May 8. 

IMX has since dropped below its 50-day Exponential Moving Average, while both lines of the MACD have crossed below the zero line. The Relative Strength Index has also tilted downward and is approaching oversold territory.

Given these signals, the token will likely continue falling as sellers target key support at $0.3458, its year-to-date low. A drop to this level would complete a double-bottom pattern, which could signal a rebound back to the neckline at $0.8100. However, a decisive move below that support would invalidate the bullish setup.



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Cryptocurrencies to watch this week: Pi, Immutable, Zebec
NFT Gaming

Cryptocurrencies to watch this week: Pi, Immutable, Zebec

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The crypto market hit the brakes last week as Bitcoin slid from its record high of $111,900 to below $104,000, sparking a broader altcoin sell-off.

With investors locking in profits and key economic data like nonfarm payrolls on the horizon, all eyes are on what’s next.

This week, Pi Coin (PI), Immutable X (IMX), and Zebec Network (ZBCN) are among the top tokens to watch as the market searches for its next catalyst.

Pi coin at risk ahead of more token unlocks

Pi coin price | Source: crypto.news

Pi coin will be in the spotlight this week as the network unlocks tokens. PiScan data shows that it will unlock 277 million tokens this month, with 67.3 million being unlocked this week. 

These unlocks come as the coin remains under intense pressure following the Pi Network Ventures launch in May. It has crashed to $0.6310, its lowest level since May 8, and 62% below the highest point during the month.

Pi coin has dropped below the key support level at $0.6593, its lowest point on May 17. Moving below that level invalidated the double-bottom pattern that was forming, whose neckline was at $0.8645. 

Therefore, the path of least resistance for the Pi Network price is bearish, with the next target being the all-time low of $0.40.

Immutable X price braces for a big unlock

IMX price chart | Source: crypto.news

Immutable X, the gaming-focused layer-2 blockchain network, will be a crypto to watch as it executes its monthly token unlock. It will unlock tokens worth $19.2 million, equivalent to almost 2% of the float. Immutable has already unlocked 90% of all its tokens, with the final unlock expected to happen in November. 

The IMX token price has come under pressure in the past few weeks, moving to a low of $0.5400, its lowest point since May 8. It has dropped by 33% from its highest point in May, and the downtrend may continue ahead of the unlock. More sell-off may see it drop to the key support at $0.3458, its lowest point in April.

Zebec Network loses momentum

ZBCN price chart | Source: crypto.news 

Zebec Network was one of the breakout coins in May, jumping to a record high of $0.007156, up by 925% from its lowest level in April. The rally accelerated last week when it acquired Science Card, a British fintech company with over 50,000 users.

ZBCN price will be in focus this week as it loses momentum, possibly as it moves into the distribution and markup phase of the Wyckoff Theory. It has already pulled back by almost 20% from its highest point in May, and barring any major catalyst, the coin may drop to the psychological point of $0.00250. 



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