Immutable's token, IMX, experienced a significant decline, dropping by 14% in value within a single day. This drop follows a 68% decrease from its 2024 peak reached in March.
The decline in IMX's price comes after Immutable revealed potential regulatory issues posed by the SEC, which have impacted investor confidence and driven the token's value downward.
The gaming token, rooted in the Ethereum ecosystem, faces increased scrutiny, mirroring broader regulatory challenges confronting various cryptocurrencies.