Immutable has seen a steady increase in daily network use in the first quarter of 2025, with an average daily transaction rate on Immutable zkEVM rising by 5.7% quarter-over-quarter. Data from crypto analytics firm Messari shows a progression from around 469,000 to 498,000 transactions.
This growth is noteworthy, given that it occurred during a more general downturn in the Web3 gaming space. Immutable zkEVM, a Layer-2 scaling solution for Ethereum, continues to be a vital support for blockchain-based games and NFT transactions.
Immutable is reportedly planning to merge its two primary networks, Immutable X and Immutable zkEVM, into a single chain named “Immutable” by the end of 2025. Although a specific launch date is yet to be confirmed, the unified chain aims to streamline activities across the system. It will combine zkEVM’s scalability with the pre-existing infrastructure of Immutable X. This merger is anticipated to simplify development processes for gaming studios and enhance end-user experiences.
Despite a decline in daily users in Q1, overall NFT transaction volumes remained solid. NFT sales across Immutable X and zkEVM fell slightly by 1.6% to $78.3 million. The number of daily sellers decreased 14.9% to 751, while buyers saw a 17.8% decline to 662.
Despite fewer participants, consistent volume indicates an increase in transaction size. The Guild of Guardians NFT series dominated the quarter, with 99% of all sales coming from Heroes and Avatars collections. Heroes NFTs saw an 8.5% quarter-on-quarter decrease, while Avatars increased by 40.4%.
Immutable’s gaming ecosystem continued to expand in the meantime, with the global launch of RavenQuest boosting user engagement. Immortal Rising 2 introduced the IMT token, further extending in-game economic activities. Moreover, game publisher MARBLEX announced seven new games to be launched on Immutable zkEVM in 2025, which is expected to drive more traffic and utility for the platform in the forthcoming months.
Despite the network’s consistent growth, the native token of Immutable, IMX, experienced a significant price drop of 60.1% during the quarter. The token’s price fell from $1.32 to $0.53, reducing its circulating market capitalization by 58.4% to $946.4 million. Currently, IMX is trading at $0.624, after a 2.2% decrease in the past day, though it has gained 32% in the previous month.
The market cap ranking for IMX also fell, moving from 53rd to 64th place. This reflects the overall bearish sentiment in the Web3 gaming and crypto markets during the period, with active addresses on zkEVM falling by 31.5%, and new addresses dropping by 36.1%.
In a positive development, the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Immutable without initiating any enforcement action, removing a significant source of uncertainty for the platform and bolstering its regulatory standing ahead of future developments.
