Nov 14
ImmutableX's IMX token to redistribute imminently
14-11-23, 13:36
![](https://production-sanbase-images.s3.amazonaws.com/uploads/a11f087750fb380d9366a06f811b4ef76d23583ce41191ac1ea8d4eeed6a993a_1699968282753_Bitcoin%20%28BTC%29%20%5B18.52.04%2C%2014%20Nov%2C%202023%5D.png)
IMX NPL ![](https://production-sanbase-images.s3.amazonaws.com/uploads/5811f4f60345057e7d030d863739df188e91bb4d52b5af9969703a34c02aa7f3_1699968358857_Immutable%20X%20%28IMX%29%20%5B18.54.28%2C%2014%20Nov%2C%202023%5D.png)
IMX AA, NG, Volume ![](https://production-sanbase-images.s3.amazonaws.com/uploads/b22207ab95bd563b67f023a17671ae0cac26a0864312a6c5151100bb03d1e0bf_1699968524335_Immutable%20X%20%28IMX%29%20%5B18.55.46%2C%2014%20Nov%2C%202023%5D.png)
IMX Exchange Flow Balance ![](https://production-sanbase-images.s3.amazonaws.com/uploads/c3017327dfbd22de9b08722418778056926522147b531ac23db2db459c47358e_1699968760339_Immutable%20X%20%28IMX%29%20%5B18.59.15%2C%2014%20Nov%2C%202023%5D.png)
IMX MVRV 30-day
ImmutableX (IMX) has seen a considerable spike in profit-taking as seen in the Network Realized Profit/Loss indicator.
![](https://production-sanbase-images.s3.amazonaws.com/uploads/a11f087750fb380d9366a06f811b4ef76d23583ce41191ac1ea8d4eeed6a993a_1699968282753_Bitcoin%20%28BTC%29%20%5B18.52.04%2C%2014%20Nov%2C%202023%5D.png)
Active Addresses, Network Growth and Volume are all declining and producing lower highs while IMX price produces higher high.
![](https://production-sanbase-images.s3.amazonaws.com/uploads/5811f4f60345057e7d030d863739df188e91bb4d52b5af9969703a34c02aa7f3_1699968358857_Immutable%20X%20%28IMX%29%20%5B18.54.28%2C%2014%20Nov%2C%202023%5D.png)
Furthermore Exchange Flow Balance saw nearly 4 million IMX move into exchanges for potential redistribution.
![](https://production-sanbase-images.s3.amazonaws.com/uploads/b22207ab95bd563b67f023a17671ae0cac26a0864312a6c5151100bb03d1e0bf_1699968524335_Immutable%20X%20%28IMX%29%20%5B18.55.46%2C%2014%20Nov%2C%202023%5D.png)
MVRV 30-day has declined from 44% to 28% and indicates that 28% of IMX holders that bought the token over the past month are in profit.
![](https://production-sanbase-images.s3.amazonaws.com/uploads/c3017327dfbd22de9b08722418778056926522147b531ac23db2db459c47358e_1699968760339_Immutable%20X%20%28IMX%29%20%5B18.59.15%2C%2014%20Nov%2C%202023%5D.png)
Conclusion:
The redistribution sigs are apparent and its only a matter of time for IMX to slide lower.
From a TA-perspective, the daily FVG range, extending from $1.02 to $0.92 is where smart money might step in to buy the dips after redistribution.
- Akash G (Twitter: Mangyek0)