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GMX Price Soars 7% — Time To Buy GMX?

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GMX Price
GMX Price

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The 24-hour volume for GMX is $23,9 million, and the price is now $45 per share. Live GMX market cap is $352.9 million, which is up by almost 7% in the previous 24 hours. There are now 7,990,696 GMX coins in circulation.

The price of GMX has been on the rise ever since the start of the week, reaching about $48 on November 21. GMX plummeted to an intraday bottom of $38 after breaking past the $47 barrier. If the current trend keeps going down, the area around $35 and $37 will be an extremely important support. GMX has to recapture the $46 price point if the downward trend is to be reversed.

More on GMX Token

Users of GMX, a decentralized spot, and everlasting exchange, may buy and sell Bitcoin (BTC), Ethereum (ETH), and other favored digital coins without ever having to leave their cryptocurrency wallets. 

GMX offers trading perpetual futures and spot swaps with up to 30x leverage, just as they would on a centralized exchange. They use a bitcoin wallet instead of a centralized exchange, so they retain control of their funds at all times.

Through measures like zero-impact transactions and reduced swap costs, GMX hopes to improve the trading experience for its customers. Trading takes place in GLP, its native multi-asset pool, which generates fees for the producers of liquidity. Furthermore, GMX utilizes Chainlink Oracles for price changes in order to gather rates from several other large platforms.

When the Arbitrum One blockchain network went online in September 2021, GMX was among the first applications to run on it. Arbitrum is a layer-2 Rollup for Ethereum, which is a solution that improves Ethereum’s scalability and performance. The rollout of GMX proceeded on Avalanche, another fast blockchain compatible with the EVM, in January 2022.

How Does GMX Help Investors? 

In order to ease trading on GMX, a multi-asset pool known as GLP was created. It includes 20% Bitcoin, 25% Ether, 50% stablecoins, and 5 – 10% other cryptocurrencies like Uniswap and Chainlink.

Users add liquidity by minting GMX Liquidity Provider Tokens (GLP). For earning GLP, they receive 70% of all transaction fees on that blockchain.

Anyone can participate as a liquidity provider and receive a fee. Users can also use the given assets to engage in spot or perpetual swap trading. Because GLP token holders supply the liquidity employed in leverage trading, they gain when traders lose and lose when GLP token holders do well.

Any of the GLP token’s index assets may be used to create new tokens, and any of the index assets can be used to redeem tokens. It can’t be traded or sent to another user like the GMX token can. Avalanche and Arbitrum have dissimilar GLP costs, payouts, and index construction.

Why Is GMX One of A Kind?

Following are some of the features that make GMX unique:

Unique Trading System

Traders on GMX may open leveraged positions with the use of a straightforward swap interface that is reminiscent of standard trading platforms. Additionally, as GMX is secure and allows users to self-custody their funds, anybody may trade cryptocurrencies without ever having to reveal their private keys.

It’s a dual-exchange architecture, so it can handle spot swaps as well as leveraged trading in perpetual swaps. With the GLP pool’s high asset utilization, user deposits can create additional income rather than sitting idle, which could boost capital efficiency.

Opening and closing trading positions on GMX has no effect on the market price. With this layout, traders may be able to achieve better entry prices than they would on order book-based platforms, which are prone to slippage. 

GMX employs a combination of price inputs from Chainlink Oracles and elsewhere to help smooth out price variations, protecting holdings from wicks caused by brief price drops.

Active Community Involvement

GMX has made an effort to cultivate the DeFi user mentality of active participation and innovative tool creation. A Telegram positions bot, a scoreboard on, a statistics page on, a dashboard, calculators in Dune Analytics, and more are just some of the community-built tools that help traders, stakers, and liquidity providers. 

The number of group efforts using GMX’s modular building pieces to provide DeFi capabilities is expanding. The dissemination of information concerning the GMX ecosystem is likewise managed by the community. The Blueberry Pulse, a community-driven weekly newsletter, features articles about recent changes to the GMX ecosystem. The Blueberry Podcast is an audio version of the same thing.

What Is The Future Roadmap For GMX?

In-house governance processes allowed GMX’s decentralized autonomous organization (DAO), GMX DAO, to plot out the company’s future course. It is GMX’s goal to evolve into an even more feature-rich and accessible on-chain leverage trading DEX. Here is what you can expect from GMX in the future:

X4 Protocol Controlled Exchange

In the long run, GMX hopes to evolve into a sophisticated automated market maker (AMM) whose liquidity pools can be leveraged by other DeFi initiatives and whose features can be tailored to meet the specific needs of each initiative. Token purchases and sales, as well as the creation and removal of liquidity, may potentially be configured according to the needs of any individual project.


The token market is set to expand to include a new type of token called synthetics. The value of synthetic crypto assets can be based on the value of any item, whether it a stock, a commodity, or even another cryptocurrency. They can be thought of as digital analogs to derivatives.

Increase Network

In addition to the already existing networks of Arbitrum and Avalanche, GMX intends to launch the marketplace on a third blockchain.

Superior UI and UX

GMX’s primary focus is on improving the protocol’s UI and UX for its end users. The company has big plans for the platform, such as incorporating TradingView charts.

Final Word

Trading in cryptocurrencies has advanced significantly. Anyone with a bitcoin wallet can use GMX’s decentralized exchange services because of their transparency. In the first place, it provides a platform for an ever-present swap and a spot exchange for investors. 

Second, GMX token holders are given voting rights and access to a variety of user-friendly perks. The future of the GMX platform is clearly determined by the community; therefore, further services may be added to the existing exchange.

Another token worth investing in this year is Dash 2 Trade which is a promising coin and is currently in its presale phase.

The cryptocurrency known as Dash 2 Trade is the engine of the crypto data network that was developed to solve the difficulties currently facing the trading business. The second round of the D2T presale raised its target amount of $5.16 million and was fully subscribed in less than two weeks.

During the first three months of 2023, Dash 2 Trade, a platform conceived by the makers of Learn 2 Trade, a widely used trading signal provider by forex traders, will go online. The platform will provide investors with market-driven statistics to help them make better decisions.

D2T improves the trading experience by providing buy and sells signals, social analytics, and market sentiment research.

The developers of Dash 2 Trade hope to one day make it as popular as Bloomberg for trading cryptocurrencies. The platform’s automation and backtesting features can help traders refine their approaches and cut down on unnecessary steps.

Users of Dash 2 Trade now have access to information formerly reserved for the industry’s most well-connected investors thanks to the platform’s notification function, which keeps them abreast of any fresh listings on centralized exchanges. 

Pre-sale efforts for D2T have been quite successful, which is to be expected given the platform’s bright future. The third and final round of the presale has so far raised around $6.9 million. Currently on sale for a limited time at the ridiculously low price of $0.0513, invest in it now before the last leg pushes the price even higher.

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