GMX Price (GMX)#141
The market capitalization of a cryptocurrency is its current price multiplied by its circulating supply (the total number of mined coins).Market Cap = Current Price x Circulating Supply.
Volume 24h is referring to the total amount of a cryptocurrency traded in the previous 24 hours.
Available supply or circulating supply is the best approximation of coins or tokens in circulation and publicly available.
The total supply of a cryptocurrency is referring to the total amount of coins in circulation or locked minus the removed ones.Total supply = Onchain Supply - Coins Removed from Circulation
The fully diluted market value is referring to a cryptocurrency's market cap when/if its total supply is issued.
GMX Price Update
GMX price is $44.94 , up 0.82% in the last 24 hours, and the live market cap is $355.6M . It has a circulating supply volume of 7,909,676 GMX coins and a max. Supply volume of 7,909,676 GMX alongside $355.6M 24h trading volume.
The addresses and transactions of GMX can be explored in https://arbiscan.io/token/0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a and https://snowtrace.io/token/0x62edc0692BD897D2295872a9FFCac5425011c661 .
GMX website is https://gmx.financial/.
GMX is a decentralized spot and perpetual exchange to support low swapping fees and zero price impact trades.
GMX is the protocol's utility and governance token.
Check the GMX current price, 24 hour trading volume, live market cap, total supply, circulating supply, max. supply, GMX price chart, etc., and get updates on GMX price in real-time on CoinStats, one of the best crypto platforms around.
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What Is GMX
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. GMX enables users to trade BTC, ETH, AVAX, and other top cryptocurrencies with up to 30x leverage directly from their wallets.
Trading on the GMX ecosystem is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees, and liquidations), and asset rebalancing. Dynamic pricing is supported by Chainlink Oracles along with TWAP pricing from leading volume DEXs.
GMX provides users with three unique features:
- Reduced Liquidation Risks
The GMX aggregate of high-quality price feeds determines when liquidations occur. This keeps positions safe from temporary wicks.
2. Low Costs
GMX allows users to enter and exit positions with minimal spread and zero price impact and get the optimal price without incurring additional costs.
3. Simple Swap Feature
GMX users can open positions through a simple swap interface. This function lets users conveniently swap from any supported asset into the position of their choice.
In the first month of its launch, GMX recorded massive success amongst crypto users:
- ~$150 million has been traded on GMX
- ~$300,000 in fees have been earned by the protocol, including Gambit fees
- ~$900,000 added to the floor price fund.
Today, GMX has a total trading volume of $45,110,523,486 and 47,923 active users.
GMX uses a dual coin system, with two native protocol coins - GMX and GLP, serving two different functions.
GMX is the protocol's utility and governance token. It accrues 30% of the platform’s generated fees. Holding GMX tokens unlocks such rewards as Revenue sharing, GMX tokens in Escrow, and Multiplier points.
According to its whitepaper, the GMX token can be bridged between Ethereum and Arbitrum.
GLP is the protocol's liquidity provider token. It accrues 70% of the platform’s generated fees. GLP is a basket of assets used for trading and leverage trading. The price for minting and redemption is calculated based on the total value of the assets in the index. This includes profit and loss on open positions divided by the LPG Supply.
There is very little information about the team behind GMX. The project could be led by a certain Gambit Financial, a spot and perpetual exchange on Binance Smart Chain.
How Does GMX Work
GMX works on the Arbitrium and Avalanche blockchains, well known for their low gas fees and high transaction speed.
GMX functions by providing users with a liquidity pool that supports low swap fees and zero-impact trades.
Where to Buy GMX Coin
You can buy the GMX token on the following cryptocurrency exchanges:
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