IMX is aiming for a $1.5 billion market cap, driven by off-chain accumulation and derivatives inflows, according to Coinotag. The cryptocurrency's recent rally is attributed to approximately $16 million in Open Interest and $781,000 in spot accumulation, despite low on-chain activity. IMX must surpass resistance levels between $0.713 and $0.75 to achieve its market cap target.
The positive funding rate suggests a dominance of long contracts, adding upward pressure on IMX's price. However, to reach its market cap goal, sustained capital inflows and increased on-chain engagement are crucial. Traders should focus on off-chain liquidity and derivatives positioning while monitoring key resistance levels.
IMX Targets $1.5B Market Cap Amid Off-Chain Accumulation
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