Neiro, Immutable X, Arkham pumps as Bitcoin stalls

Cryptocurrency prices were largely sideways on September 23 as investors adopted a wait-and-see approach following last week’s Fed decision.

Bitcoin (BTC) hit a multi-week high of $64,741 before quickly falling to $63,377, while Ethereum (ETH) rose to $2,680.

This price action mirrored the movement in the stock market, with only minimal movement seen in major U.S. indices such as the Dow Jones, Nasdaq 100 and S&P 500.

However, some popular cryptocurrencies continued to recover. Neiro (NEIRO), a widely known meme coin, hit a record high of $0.0012, pushing its market cap above $484 million. It became the ninth-largest meme coin, surpassing coins like Book of Meme, Cat in a Dog’s World, and Mog Coin.

Immutable X (IMX), a popular layer-2 network for gaming and non-fungible tokens, rose to $1.9481, its highest level since June 4. It has risen for seven consecutive days and has more than doubled from its August low.

Immutable has been on the rebound due to its growing popularity among game developers. Last week, Immortal Rising 2 was deployed on the zkEVM network, a significant milestone as the game has thousands of players worldwide.

Other newly released games on the network include RavenQuest Phase 2, The Tree Verse, and Arise.

These games have led to a surge in NFT sales on Immutable, with data from CryptoSlam showing that total sales have increased by more than 16% to $3.4 million over the last seven days, led by Guild of Guardians Heroes, which saw sales increase by 17%.

Arkham (ARKM) was another top-performing cryptocurrency, rising to $1.42, its highest level since July 19. The token has gained popularity due to the extensive data available about its ecosystem.

Arkham price chart | Source: TradingView

Arkham price recovered after forming a double bottom chart pattern on the daily chart. In technical analysis, this is one of the most bullish signs in the market. It broke above the neckline at $1.40, indicating potential for more gains.