Immutable X (IMX) gains over 50% in recent weeks even as most crypto-assets continue to slump

As most coins in the crypto market continue to slump, Immutable X (IMX) has been posting incredible gains over the last week or so. Recent chain news has driven much of this surge but can IMX keep this going? Here are some highlights:
Immutable X (IMX) announced it had raised $200 million to fund the expansion of its ecosystem.
Despite the rally, Immutable X (IMX) still remains significantly lower compared to its ATH
At press time, the coin was trading at around $1.8.
Data Source: Tradingview
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