Over the weeks, the Securities and Exchange Commission of the United States seems to be reversing the action or lawsuits filed under the leadership of Gary Gensler; in a statement dated March 26, 2025, Immutable said the regulatory commission has dropped the lawsuit against the firm and its Chief Executive Officer.
It is worth noting that the dismissed case is the 8th lawsuit dropped by the SEC after Gary’s departure following Donald Trump’s historic victory.
Following the relaxation of the legal tussles from the Securities regulators began in the 2nd phase of 2024, exactly in October, when Immutable received a well-timed notice from the commission.
SEC drop pushed Immutable ( IMX) prices above the 20-day EMA
According to the data from TradingView, the immutable price grew around 19% in a week, and the spike after the drop in cases pulled above 20 days, with an exponential moving average of $0.611.
Until publishing, it was exchanging hands at $0.673, and the trading volume in the past 24 hours grew significantly, indicating the entry of bulls in the sense of controlling the upcoming situation.
Yet despite intraday gains, the prices of Immutable fell 3.44% in a month, 53.10% in a quarter, and more than 62% in the quarterly time frame.
Immutable’s volume and market capitalization have also seen a slight growth in the past 24 hours; the cap was $1.21 billion, and the volume was $1.57 million, with an average volume of $2.25 million monthly.
With the lawsuit dropped, Immutable said this decision will likely shape the gaming industry’s future, and they will be committed and focus on developing products for gamers.
Immutable holds a more prominent position in blockchain gaming, with dozens of products already serving Web3 gamers.
Some of the most famous cases dropped by the Securities and Exchange Commission include the lawsuit against Uniswap and the action against OpenSea, Robinhood, and Gemini, among a few others.
Will these steps help the crypto market reach $3 trillion before Q1 2025?
Till writing, the cryptocurrency market cap was $2.87 trillion, and the trading volume was $75.53 billion, with a loss of 8.23% in the intraday frame.
The press time cap of the market was below its 50- and 100-day exponential moving average; it is crucial to note that at the end of 2024, the cap was near the territory of $4 trillion.
Experts say that there are higher odds that crypto might retest the lost resistance of $3 trillion before the wrapping of Q1 2025; on the other hand, Bitcoin is still at $87,631, which was expected to reach above $90k before the end of this quarter.
The crypto fear and greed index was at 34, mirroring a constant fading in the bearish sentiment in the market, troubling the price of known tokens and coins.
