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Lavish Immutable X game Illuvium is coming to the Epic Games Store, and the news fueled a spike in the ILV token price.
Upcoming NFT game Illuvium is coming to the Epic Games Store, and its impending launch apparently yielded a jump in the price for the Illuvium token, which surged in value following the early Wednesday announcement.
Illuvium is now listed on the Epic Games Store ahead of a November 28 debut for the title’s Beta 3: Arena test, which will focus on player-vs-player (PVP) action. The beta will launch through the popular PC gaming storefront.
News of Illuvium joining the prominent PC gaming marketplace, which claimed 230 million users as of the end of 2022, appears to have had an immediate impact on the price of the Illuvium (ILV) token on Ethereum, which quickly jumped according to data from CoinGecko.
ILV’s price surged from about $65 per token before the news to a peak of $80.49, a nearly 24% rise in a matter of hours. The price has since settled to $75.50 as of this writing, which still marks a 17% increase over the last 24 hours—not to mention a 94% rise over the past 30 days.

Built on Ethereum scaling network Immutable X, Illuvium is a fantasy action game that spans multiple game styles, including an open-world adventure and an auto-battler competitive mode. The game uses various NFTs, including virtual land plots, with one such digital land NFT sale yielding $72 million worth of purchases in June 2022.
$ILV #ILV

Binance introduced ILV futures trading, resulting in a surge in Open Interest as traders seek profits from ILV’s price fluctuations. There’s speculation that ILV could reach $100 soon unless selling pressure intervenes.
As altcoin prices surge, Illuvium (ILV) stands out with a remarkable 126% increase in value over the last 30 days, as per CoinMarketCap. ILV, the native token of the Illuvium ecosystem, operates on the Ethereum (ETH) blockchain and is associated with a fantasy battle game.
While ILV has been listed on Binance, the exchange recently introduced ILV futures trading, allowing traders to take both long and short positions based on market sentiment.
Binance has launched USDⓈ-M $ILV Perpetual Contract, just as we predicted in a tweet on Nov 9.
An investor we shared before deposited 10,000 $ILV ($916K) into #Binance after #Binance announced the launch of $ILV Perpetual. https://twitter.com/lookonchain/status/1723172868241186822/photo/1
— Lookonchain (@lookonchain) November 11, 2023
ILV Holder Makes $916,000 Deposit After Binance Listing
Following its recent listing on Binance, Illuvium (ILV) experienced a notable development as an ILV holder deposited tokens worth $916,000 on the exchange. The purpose behind this significant deposit remains unclear as of now. However, speculation suggests that the investor may be taking a long position on ILV.
ILV’s Continued Surge and Increased Open Interest
In the 24 hours following the deposit, ILV’s impressive performance persisted, registering an additional 5% increase. Notably, the derivatives information portal Coinglass reported a remarkable surge in Open Interest related to ILV during this period.
Open Interest is a metric that measures the number of futures contracts open during a specific trading period. A decrease in Open Interest typically indicates that traders are closing positions. Conversely, a surge in this metric, as observed with ILV, suggests a substantial increase in liquidity in contracts associated with the token.

Traders Favor Long Positions on ILV Despite Overheating Concerns
Recent data from Coinglass indicates a notable trend among traders, as a considerable number are opting for long positions on Illuvium (ILV). Typically, after a cryptocurrency experiences a strong performance, there is an expectation for the price action to cool down. Surprisingly, ILV seems to defy this customary anticipation, with traders showing a strong bullish sentiment.
ILV Long/Short Ratio Insights
The ILV 1-hour long/short ratio, as reported by Coinglass, currently stands at 1.17. A long/short ratio above 1 suggests a higher prevalence of bullish positions compared to bearish ones. This sentiment is further emphasized by the specific long-to-short positions, indicating a distribution of 54.15% long positions to 45.85% short positions.

Considering the observed Open Interest surge and the ongoing upward trajectory in ILV’s price action, there is a possibility that ILV will sustain its current positive momentum. Traders are seemingly unfazed by concerns of overheating, and if the trend persists, ILV could potentially retest the $100 mark before any significant retracement occurs.
⚠️Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Illuvium #ILV $ILV