The cryptocurrency market carried out nicely over the weekend after the large losses recorded final week.<\/strong><\/p>\n The cryptocurrency market recorded enormous losses final week, with billions of {dollars} worn out from the foremost cash and tokens. The complete market cap dropped under the $1 trillion mark for the primary time this 12 months a week in the past.<\/p>\n However, the market recovered a few of its losses over the weekend. The cryptocurrency market is up by greater than 8% within the final 24 hours, with the whole market cap now round $900 billion.<\/p>\n Bitcoin slipped in direction of the $17k mark over the weekend however has now rebounded and at present trades above $20k per coin. Meanwhile, Ether maintains its worth above $1,100 after including greater than 9% to its worth within the final 24 hours.<\/p>\n IMX, the native token of the Immutable X ecosystem, additionally carried out excellently over the previous 24 hours. IMX is up by greater than 9% and at present trades above $0.80 per coin.<\/p>\n The catalyst behind this ongoing rally is the launch of the $500 million ecosystem fund by Immutable X. Robbie Ferguson, the co-founder of Immutable X, introduced over the weekend that that they had launched a $500 million ecosystem fund. He added that the fund is designed to again the subsequent era of Web3 video games.<\/p>\n We’re launching @immutable<\/a>‘s $500M fund to again the subsequent era of web3 video games.<\/p>\n The subsequent billion customers of web3 will come from gaming. <\/p>\n Progress waits for nothing \u2013 let’s construct. https:\/\/t.co\/MjNULybdhA<\/a><\/p>\n \ud83e\uddf5<\/p>\n \u2014 Robbie Ferguson \u24e7 \u2013 Hiring! (@0xferg) June 18, 2022<\/a><\/p>\n<\/blockquote>\n The IMX\/USD 4-hour chart is bullish as Immutable X has been performing nicely over the previous 24 hours.<\/p>\n\n
Key ranges to look at<\/h2>\n
![](\"https:\/\/media.igms.io\/2022\/05\/20\/1655724035739-93d0764d-9ccf-40d8-9678-4e881c50af71.png\")
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