Immutable operates a full-stack infrastructure platform for web3 gaming that includes blockchains, namely Immutable zkEVM and Immutable X, and other products, such as Passport and Orderbook. Creators & users sell NFTs on Immutable. They receive royalties from secondary sales (supply-side fees).

Immutable is a platform for building web3 games. Immutable was founded by James Ferguson, Robbie Ferguson, Alex Connolly, and launched in 2018. This dashboard includes data from Immutable Orderbook, Immutable zkEVM, and Immutable X.

IMX holders own and govern the protocol. They currently take a cut of the total trading fees paid by NFT buyers on Immutable Orderbook and the total transaction fees paid by transaction senders on Immutable zkEVM (revenue). Immutable's investors include ParaFi Capital, GameStop Digital Ventures, Fabric Ventures, etc.

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# Immutable Token turnover (circulating) Methodology

## 1. Overview

Token turnover (circulating) measures the frequency with which the circulating supply of the Immutable asset is traded over a given period. It is calculated by dividing the daily token trading volume by the circulating market capitalization. This metric is used to evaluate the liquidity of the asset and the intensity of market activity relative to the total supply available in the public market.

## 2. Data sources

- **External data**: End-of-day market data feeds including total trading volume and circulating market capitalization.

## 3. Step-by-step calculation

### Component A: Token trading volume extraction

- **Purpose**: Retrieve the total daily volume of the Immutable asset across all monitored exchanges.
- **Logic**: Daily trading volumes are extracted from market data feeds using associated asset identifiers. The data is processed at a daily granularity to represent the total USD value of assets traded within each 24-hour UTC period.
- **Key fields**: `total_volume`, `timestamp`

### Component B: Circulating market cap retrieval

- **Purpose**: Identify the total market value of the Immutable asset supply currently in circulation.
- **Logic**: Circulating market capitalization values are retrieved for each daily timestamp. These values represent the market price of the asset multiplied by the quantity of the asset held by the public, excluding locked or restricted supplies.
- **Key fields**: `market_cap_circulating`, `timestamp`

### Component C: Turnover ratio calculation and normalization

- **Purpose**: Calculate the final turnover ratio and ensure data consistency.
- **Logic**: The token trading volume is divided by the circulating market capitalization for each corresponding timestamp. Division by zero is prevented by applying null checks to the market capitalization values. The resulting values are cast to high-precision numeric types, and any missing daily data points are filled with zeros to maintain a continuous time series.
- **Key fields**: `token_trading_volume`, `market_cap_circulating`, `token_turnover_circulating`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

${token_trading_volume} / ${market_cap_circulating}

Average daily token trading volume divided by circulating market cap.

ImmutableIMX

Token turnover (circulating)

Token turnover (circulating)

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