Controversy-ridden GameStop might be looking at another outrage from the community after selling off $30 million worth of IMX tokens.
After a major setback with its stocks, GameStop has shed some light on the new NFT marketplace, and rejuvenated some of the fans in the crypto community due to the recent partnership with Immutable X. Sadly, the excitement might not have been worth the wait.
On February 4th, just a day after the partnership between GameStop and Immutable X was announced, news came upon the recent crash of IMX tokens.
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According to a Twitter user @polka, Immutable X distributed about $100 million worth of tokens to GameStop for the partnership deal.
However, based on data shown on Etherscan, a large fraction of the IMX tokens, about $30 million, were sent from the company’s digital wallet address to Binance, OKex, and Huobi crypto exchanges in a matter of hours.
Users on social media managed to quickly connect the dots since the crash happened exactly at the time when the IMX tokens were sent out to various exchanges by GameStop’s digital wallet.
At the moment of writing this article, the IMX token suffered a 23.05% drop over the last 24 hours and currently sits at an average price of $2.92.