On March 25, IMX experienced a significant rise, hitting just shy of $0.74, its highest price since March 3, before a widespread market slump – largely attributed to persistent concerns over US tariffs under President Donald Trump’s administration and the state of US interest rates – pushed it down to $0.46 on March 11.

As of press time, IMX had adjusted back to $0.67, as per CoinMarketCap. A push back towards $0.70 could potentially liquidate roughly $449,500 in short positions, based on data from CoinGlass.

Interestingly, when Immutable first received the aforementioned Wells notice from the SEC in November, the IMX token price didn’t show any noticeable reaction, likely due to the broader market gaining momentum ahead of Trump’s successful election outcome on November 5.

Immutable’s co-founder Robbie Ferguson expressed in a X post on March 25 that the SEC’s decision to drop the investigation represents “a massive victory for Web3 gaming.” He further added, “After a year of struggle, this threat to digital ownership rights has finally been eliminated.”

A number of top gaming crypto tokens by market cap have recorded growth over the last 24 hours. Gala (GALAUSD) is up by 2.78%, The Sandbox (SANDUSD) by 3.78%, FLOKI (FLOKI) by 1.91%, and Axie Infinity (AXSUSD) by 1.50%.

IMX recorded its peak price of $9.32 in November 2021 during a significant gaming tokens rally. Although there’s been talk about when gaming tokens might see another major uptick, history suggests they usually surge after the broader crypto market makes the initial move.

However, in the past month, the overall market cap of gaming tokens has decreased by 3.65% to $13.13 billion, while trading volume has taken a more substantial blow, plunging 33.45% to $1.75 billion.

Please note, this article is not intended to provide investment advice or recommendations. Every investment and trading decision carries risk, and readers are advised to conduct thorough research before making a decision.

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In October, Immutable received a Wells notice, which is a precursor to potential charges from the SEC. The notice was related to Immutable and its CEO, and the IMX Ecosystem Foundation. However, Immutable confirmed on Tuesday that the SEC’s inquiry has been finalized.

In a public statement, the company said, “The SEC’s decision to wrap up its investigation is a victory for all the developers, creators, and gamers advocating for authentic digital ownership in gaming. This decision affirms Immutable’s consistent emphasis on legal and regulatory compliance.”

Since the return of the Trump administration to Washington D.C. and the departure of former SEC Chair Gary Gensler in January, the regulatory body has adopted a different approach. Gensler had previously argued that most cryptocurrencies should be classified as securities and urged crypto platforms to register. He had also initiated legal action against various exchanges and NFT entities.

However, since January, the SEC has discontinued multiple investigations and cases, including those against Kraken, Coinbase, Gemini, MetaMask, OpenSea, Robinhood, and UniSwap. Additionally, the SEC has formed a crypto task force under the leadership of Republican Commissioner Hester Peirce to clarify how securities laws apply to cryptocurrencies.

Immutable applauded the U.S. government’s efforts to establish clear regulatory guidelines for digital assets. The company stated on Tuesday, “Constructive regulation offers certainty for developers and encourages the innovative potential of blockchain technology.”

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