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See the live GMX price in USD. Buy GMX or add it to your Crypto Strategy.

GMX

GMX

GMX to USD Price

$33.70

GMX Market Cap

$320.69M

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GMX USD price chart / performance

GMX USD price chart / performance

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From
May 23, 2024
To
May 30, 2024

Returns

Returns

Return (24h)
-0.53%
Return (7D)
+9.02%
Return (1M)
+30.37%
Return (1Y)
N/A

My Investment

My Investment

Profit Taken
$0.00
0.00%
You Have:
$0.00
Unrealised P/L
$0.00
0.00%

GMX (GMX) History and Overview

GMX (GMX) History and Overview

GMX is a decentralized, permissionless exchange for perpetual swaps and spot trading, facilitating on-chain cryptocurrency trades directly from users' wallets. Launched on the Arbitrum One blockchain in September 2021 and later on Avalanche in January 2022, GMX supports these two networks. It allows trading of major cryptocurrencies like BTC and ETH with up to 50x leverage, offering an experience akin to centralized exchanges but with users retaining asset custody.

Central to GMX is its native token, also named GMX, serving as a governance, utility, and value-accrual asset within its ecosystem. Staking GMX tokens yields a share of the protocol's fees and additional incentives. The platform's unique feature is its multi-asset pool, GLP, which holds a mix of stablecoins, ETH, BTC, and other altcoins. This pool facilitates trading and offers liquidity providers fee earnings without impermanent loss.

GMX's trading mechanism is supported by GLP, with liquidity providers earning 70% of fees generated. GLP tokens, which represent a stake in this pool, can be minted and burnt for various assets. GMX also uses Chainlink Oracles for dynamic pricing, aggregating prices from high-volume exchanges.

The GMX token not only enables voting on protocol decisions but also provides stakers with three types of rewards: a 30% share of protocol fees (paid in ETH or AVAX), escrowed GMX (esGMX) tokens, and Multiplier Points that boost yield. The token has a capped supply of 13.25 million, with a significant portion currently staked.

Distinctly, GMX offers a simple swap interface for leveraged positions, akin to traditional platforms, but with self-custody and trustless operation. It combines spot swaps and leveraged trading of perpetual swaps, aiming for high capital efficiency and reduced price impact during trading. The platform leverages Chainlink Oracles to mitigate liquidation risks from price fluctuations.

GMX fosters a strong community ethos, with various community-built tools and communication channels like the Blueberry Pulse newsletter and Blueberry Podcast. Traders and stakers benefit from a user-friendly interface for trading and staking, with clear instructions and options like limit orders, take profit, and stop loss orders. Staking GMX tokens is straightforward, offering multiple rewards visible in the user interface.

How To Buy GMX or Add it to your Strategy

The fastest, most convenient way to purchase GMX is to purchase it on ICONOMI. We check GMX live prices on 10+ crypto exchanges and buy it at the best market price.

You can buy GMX by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.

We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if GMX is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).

If you are unfamiliar with analyzing cryptocurrency prices and want to buy GMX, we recommend you read the next section, as copying might be a better approach.

Add GMX to your portfolio by copying a Strategy

If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have GMX in their structure.

Posts

Here you can read and comment on all posts made by Strategists about GMX GMX. See all GMX price predictions in real time and make the best use of their crypto knowledge.

ELEVATE MONSOON
23 May, 2024

NEW STRUCTURE & NEW INVESTMENT THESIS APROACH 👇


With current shifts in AI new trends have started shifting crypto. Most altcoins are still -80% or lower since ATH in 2021. There are very few exceptions that made new ATH, like $BTC & some meme coins.


Like 99% of coins are still heavily diluted in terms of $BTC. Almoust no project made new highs in terms of Bitcoin in past 2 years. Since BTC is cooling down & $ETH ETF is aproaching approval this will sparkle wild altcoin season in my opinion. Wall Street is now inside crypto so in my view what will see biggest expansions will be:

  • revenue driven protocols
  • projects that fit global narrative shift and developments


In the past I've sticked with big runners like $NEAR, $RUNE $AR, etc... but I've sold them to soon. In my view this shows we can spot fundamentaly strong projects, I just need to work on exit plan.


New structure additions:

  • $ROSE --> Optional privacy for WEB 3.0 & AI, AI needs optional privacy and this project offers a solution, already partnered with META, Founder is professor in California University
  • $OSMO --> Interchain DEX of Cosmos $ATOM , new revenue streams, has potencial to become deflationary & massive upgrade for UX comming within 2 weeks
  • $GMX -->Decentralised DEX, One of the biggest revenue generating protocols in entire crypto
  • $EGLD --> Fits blockchain trilema solution thesis with it's unique sharding solution


If Ethereum ETF get's approved and ETH/BTC ratio starts apreciating this will be like a sparkle on gasoline for Altcoins and fundamentaly strong projects will shine.


$ROSE is now our biggest holding as it fits narrative and they've been building solution for optional privacy for AI & WEB 3 for few years now, it's not like they just want to stick with current AI trend.


Current valuation is around 550M$, in roaring bull I think 4B$ Market cap is conservative. This would mean 0,6$ per $ROSE token. I think higher valuations can be reached...


Now let's see what future holds for us 🙂

3 people like this
ELEVATE MISTRAL
23 May, 2024

NEW STRUCTURE & NEW INVESTMENT THESIS APROACH 👇


With current shifts in AI new trends have started shifting crypto. Most altcoins are still -80% or lower since ATH in 2021. There are very few exceptions that made new ATH, like $BTC & some meme coins.


Like 99% of coins are still heavily diluted in terms of $BTC. Almoust no project made new highs in terms of Bitcoin in past 2 years. Since BTC is cooling down & $ETH ETF is aproaching approval this will sparkle wild altcoin season in my opinion. Wall Street is now inside crypto so in my view what will see biggest expansions will be:

  • revenue driven protocols
  • projects that fit global narrative shift and developments


In the past I've sticked with big runners like $NEAR, $RUNE $AR, etc... but I've sold them to soon. In my view this shows we can spot fundamentaly strong projects, I just need to work on exit plan.


New structure additions:

  • $ROSE --> Optional privacy for WEB 3.0 & AI, AI needs optional privacy and this project offers a solution, already partnered with META, Founder is professor in California University
  • $OSMO --> Interchain DEX of Cosmos $ATOM , new revenue streams, has potencial to become deflationary & massive upgrade for UX comming within 2 weeks
  • $GMX -->Decentralised DEX, One of the biggest revenue generating protocols in entire crypto
  • $EGLD --> Fits blockchain trilema solution thesis with it's unique sharding solution



If Ethereum ETF get's approved and ETH/BTC ratio starts apreciating this will be like a sparkle on gasoline for Altcoins and fundamentaly strong projects will shine.


$ROSE is now our biggest holding as it fits narrative and they've been building solution for optional privacy for AI & WEB 3 for few years now, it's not like they just want to stick with current AI trend.

Current valuation is around 550M$, in roaring bull I think 4B$ Market cap is conservative. This would mean 0,6$ per $ROSE token. I think higher valuations can be reached...


Now let's see what future holds for us 🙂

2 people like this
ELEVATE MONSOON
8 May, 2024

Decentralised Derivatives data comparison


We got a clear leader here who that might be? 🤔

$GMX 👀

Post image
2 people like this
ELEVATE MISTRAL
8 May, 2024

Decentralised Derivatives data comparison


We got a clear leader here who that might be? 🤔

$GMX 👀

Post image
2 people like this
ELEVATE MISTRAL
6 May, 2024

MARKET UPDATE


While I've built new positions after we've sold $NEAR most altcoins have dropped massively. As I have built a thesis around $NEAR so goes for $ATOM & $GMX. I'll explain below 👇


After massive 🐻 in 2022 & 2023 we've built thesis around $RUNE & $NEAR, while we bought them at low prices they have also droped another -40%. I was shaken out of $RUNE but not from $NEAR.


I feel simmilar thing is happening with $GMX & $ATOM.


Cosmos has massive updates and technical upgrades packed for Q2. Inflation has been massively reduced and updated ICS 2.0 + CosmWasm is comming to the Hub. This will spark in my opinion biggest bull run for $ATOM ecosystem.


$GMX belongs in DeFi category and this category is stagnating the most in last 2 years, due to L1 limiations. Many technical aspects were improoved. $GMX is the #1 decentralised perpetual protocol by revenue and volumes. I'm attaching GMX protocol numbers 👇


As you can see roughly 10.000+ people use it per week. Binance has announced in past weeks it will be integrating $GMX protocol in it's orderbooks. This will massively increase revenue for the protocol and I think price will skyrocket.


Exchanges are making the most money with perpetuals and this protocol is the leader in this field. Currently $GMX sits at 230M$ valuation. Think about it what will be $GMX price when 1M users use it? 🤔


I think $GMX is a very volatile bet but fundamentals are there and it's a leader in the most profitable category in crypto. In future most trading will occur through DeFi protocols. In my opinion this is a multi billion $ project.


If you are sidelined or have little exposure you should DYOR or maybe think about what I just said. Don't fade fundamentals. I did mistake with $RUNE but I will not make same mistake with $GMX & $ATOM at current prices.


Onwards to new highs 🚀

Post image
2 people like this

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GMX Price FAQ

What Is the Highest Price of GMX (GMX) in USD?

GMX (GMX) price history shows the highest value of 61.01 USD . We recorded this price on March 14, 2024, but we cannot exclude that a higher price was registered before January 15, 2024.

What Is the Lowest Price of GMX (GMX) in USD?
How to buy GMX (GMX)?
What Is the Current Price of GMX (GMX) in USD?
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