The price of Immutable (IMX) has skyrocketed, surging over 41% in the last 24 hours and reclaiming its 20-day EMA. This sharp ascent has pushed IMX’s market cap past $450 million, fueling speculation about a potential sustained rally. The catalyst for this surge is attributed to significant whale activity on the platform. On-chain data reveals substantial accumulation of IMX tokens by large investors, paired with increased trading volumes, hinting at a potential shift towards bullish sentiment. Notably, a top trader on Hyperliquid, known for their profitability, recently initiated a long position of $19.54K in IMX at a price point of $0.58, further amplifying the momentum.