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GMX

GMX (GMX) Price Index

$ 46.35 Ƀ 0.00089815
  • MarketCap
    $ 437,903,022
  • Volume
    $ 28,217,619
  • Change
    1.57%
gmxGMX
$ 46.35
$ 46.35
1.57%
42,83
GMX
GMX (GMX)
$ 46.35
GMX
GMX (GMX)
author
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
By Marcel Deer
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
on May 02, 2023 | 3 min
Updated on Dec 28, 2023

Overview: What is GMX?

GMX (GMX) is both the name of a decentralized exchange (DEX) and the native token that powers it. The GMX exchange has been gaining traction in the digital asset market, as it offers a unique proposition in the world of decentralized finance (DeFi), by catering to a growing demand for more sophisticated digital financial instruments. GMX is designed to provide users with a seamless trading experience, leveraging the benefits of blockchain technology. It provides an innovative combination of features, including spot and perpetual contract trading.

 

What Makes GMX Coin Unique?

GMX stands out for its provision of low swap fees and zero price impact trades, coupled with high-yield farming opportunities. This focus on cost-efficiency and profitability sets it apart in the crowded DeFi space.

 

What Is GMX Used for?

GMX serves several functions, one of which is voting power. GMX holders can participate in voting on key governance decisions that determine the future of the platform. Also, those who hold GMX are eligible for discounts on trading fees. Another purpose for the native token is yield farming. GMX can be used for staking, to potentially generate a passive profit for those who loan their funds to the platform.

 

How Does GMX Coin Work?

GMX operates as a utility token within its DeFi ecosystem. It allows users to engage in various financial activities, such as trading and yield farming, while benefiting from the blockchain’s security and transparency. Its functionality is geared towards enhancing the overall efficiency of trading and liquidity provision on the platform.

 

How Is the GMX Price Determined?

The price of GMX, like other cryptocurrencies, is influenced by supply and demand dynamics in the market. Factors affecting its price include the platform’s adoption rate, the performance of its trading and yield farming features, and general trends in the DeFi and broader crypto market.

 

What Is the GMX Coin Price Prediction for 2030?

Predicting the price of GMX for 2030 involves a great degree of uncertainty, as the cryptocurrency market is very volatile. However, the future value of GMX will depend in large part on the continued success and adoption of its platform, as well as the overall growth and innovation in the DeFi sector. Predictions for 2030 differ greatly from analyst to analyst, ranging from as low as $11 to as high as $885. Most analysts forecast a steep upward trajectory, with an average projection of $500.

 

How Is the GMX Network Secured?

The security of the GMX network is anchored in its blockchain infrastructure, which employs robust cryptographic techniques and consensus mechanisms to ensure the integrity and safety of transactions and staked assets.

 

Where Can You Buy GMX Coin?

GMX is available for purchase on various cryptocurrency exchanges. The availability of GMX on specific exchanges can be checked on financial websites or through the exchange’s official platforms.

 

How Can You Store GMX?

As a digital asset, GMX can be stored in various types of hot and cold wallets. This includes cold wallets, which offer enhanced security and hot wallets, which offer ease of access and management.

 

FAQs

Is GMX coin a good investment?

Whether or not GMX is a good investment depends on your personal investment targets as well as your belief in the network’s potential in the DeFi space. Before investing in GMX or any other currency, you should always consider market risks and conduct thorough research.

Who owns GMX coin?

Like other cryptocurrencies, GMX is owned by the individuals or entities who hold the token. It is decentralized, meaning there is no single owner of the entire supply.

Who is behind GMX crypto?

GMX was founded by a team that remains anonymous. The lead developer goes by the handle @xdev_10.

What is the all-time high for GMX token?

The all-time high of GMX token before 2024 was $89.17.

What type of token is GMX?

GMX is a utility token designed to be used within its decentralized exchange ecosystem for governance, trading fee discounts, and yield farming.

author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
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