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About GMX

GMX (GMX) is a cryptocurrency launched in 2021. GMX has a current supply of 9.48M with 9.48M in circulation. The last known price of GMX is 56.94 USD and is 4.22 over the last 24 hours. It is currently trading on active market(s) with $97.23M traded over the last 24 hours. More information can be found at https://gmx.io/.

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GMX Price Statistics
GMX’s Price Today
24h Price Change
+$4.228.00%
24h Volume
$97.23M31.55%
24h Low / 24h High
$55.60 / $57.42
Volume / Market Cap
0.180150395745
Market Dominance
0.02%
Market Rank
#147
GMX Market Cap
Market Cap
$539.71M
Fully Diluted Market Cap
$539.71M
GMX Price History
7d Low / 7d High
$54.78 / $61.64
All-Time High
$217.32Nov 16, 2021
All-Time Low
$0Nov 17, 2021
GMX Supply
Circulating Supply
9.48M
Total Supply
9.48M
Max Supply
0
Updated Mar 01, 2024 7:53 pm
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GMX
GMX
$56.94
$4.22(+8.00%)
Mkt Cap $539.71M
There's nothing here for now
ETH L2 ZKFair’s first derivative DEX HyperionX’s first-day trading volume exceeded GMX
ETH L2 ZKFair’s first derivative DEX HyperionX’s first-day trading volume exceeded GMX
According to DefiLlama data, the derivatives trading platform HyperionX, which was first launched on ZKFair on February 2, had a daily trading volume of more than 85 million U.S. dollars. At 22:00 UTC, the trading volume exceeded GMX’s 24-hour trading volume by 1 million U.S. dollars. As of February 3, UTC time At three o'clock in the afternoon, the cumulative trading volume of HyperionX has exceeded 100 million US dollars, and its 24-hour trading volume ranks 15th in the DEX ranking of all-chain derivatives. This time HyperionX will be launched on ZKFair in the form of a low valuation 100% fair launch. It will be airdropped at a constant low valuation of US$1 million mainly through user interaction in transactions and LP provision. Compared with derivatives DEX, which usually have a market value of tens or hundreds of millions of dollars, HyperionX's current low market value pricing may be the main reason for the recent explosion in trading volume. As a complex DeFi platform, derivatives DEX has more complex product logic and usage thresholds than DeFi protocols such as spot and lending. However, the trading volume of derivatives in centralized exchanges is several times that of spot transactions. On-chain derivatives The track has great room for development. For ZKFair, an ETH second-layer network with fair launch as its core concept, the successful launch of complex DeFi such as HyperionX within its ecosystem indicates that the entire ZKF ecosystem is gradually improving and maturing.
Feb 03, 2024 10:46 pm

Frequently Asked Questions

  • What is GMX?

    GMX is a decentralized exchange (DEX) for trading perpetual cryptocurrency futures with up to 50X leverage on popular cryptocurrencies like BTC, ETH and more. The platform launched in September 2021 as Gambit Exchange. To date, GMX has a total trading volume of over $130B and 283K total users, making it the leading derivatives DEX on Arbitrum and Avalanche.

    GMX runs on the Arbitrum and the Avalanche blockchain. These ecosystems are connected to the exchange via Synapse — a cross-chain bridge.

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  • Who Are the Founders of GMX?

    The founding team is anonymous, however, the lead developer is likely @xdev_10 on Twitter.

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  • What Makes GMX Unique?

    Instead of an order book model employed by centralized exchanges (CEXs), trading occurs via its an innovation to the automated market model (AMM) deployed by DEXs like Uniswap. It features a native multi-asset pool, GLP, which generates revenue for liquidity providers.

    GLP operates as a multi-asset liquidity pool (LP) which comprises of ETH, BTC, LINK, UNI, USDC, USDT, DAI and FRAX at the time of writing. Market prices depend on Chainlink's oracles, which collect token price data from all the top exchanges.

    The decentralized exchange ecosystem is based on two tokens: GLP and GMX. The first token serves to supply liquidity. The GLP price reflects the value of all GMX assets, which are listed for trading with leverage and swaps. In other words, GLP is an index of all assets on the exchange. GMX is the utility and governance token.

    Users can add liquidity by minting GLP, and in return, they receive 70% of all fees generated on the corresponding blockchain. Unlike some liquidity pools, GLP experiences no impermanent loss. Furthermore, the GLP pool acts as a counterparty for traders. When GLP token holders supply liquidity for leveraged trading, they profit when traders incur losses, and the opposite is also true.

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  • How Many GMX Coins Are There in Circulation?

    At the time of writing, the GMX token circulating supply is over 8.7M. The expected maximum supply is 13.25M GMX tokens.

    The tokenomics is as follows: 6M GMX allocated for XVIX and Gambit migration; 2M GMX paired with ETH for liquidity on Uniswap; 2M GMX set aside for vesting from Escrowed GMX rewards; 2M GMX tokens to the floor price fund; 1M GMX tokens designated for marketing, collaborations and community developers; 250K GMX tokens distributed to the team linearly over a 2-year period.

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  • How Is the GMX Network Secured?

    GMX is on the Arbitrum and Avalanche blockchain.

    Arbitrum is a layer-2 blockchain which derives its security from the Ethereum network, which provides consensus and finality for Arbitrum transactions. In other words, Ethereum guarantees the validity of the rollup’s off-chain computation and data availability behind the computation.

    On Avalanche, unlike proof-of-work or proof-of-stake, the Avalanche consensus mechanism does not have one leader processing transactions that get validated by others. Instead, all nodes process and validate transactions by employing a directed acyclic graph (DAG) protocol. That way, transactions are processed simultaneously, and validators' random polling ensures that transactions are correct with statistical certainty. There are no blocks in this consensus mechanism, allowing immediate finalization and significantly improving the blockchain’s speed.

    The GMX contracts are also audited by ABDK Consulting, and there is an active bug bounty for GMX on Immunefi.

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  • Where Can You Buy GMX?

    GMX is available on several cryptocurrency exchanges, including Binance, KuCoin and Kraken.

    Want to keep track of GMX prices live? Download the CMC mobile app to follow the real-time prices of GMX, BTC and other cryptocurrencies.

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  • What is the all-time high price of GMX (GMX)?

    The all-time high of GMX was 217.32 USD on 2021-11-16, from which the coin is now down 73.79900607399227%. The all-time high price of GMX (GMX) is 217.32. The current price of GMX is down 73.79900607399227% from its all-time high.

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  • How much GMX (GMX) is there in circulation?

    As of , there is currently 9.48M GMX in circulation. GMX has a maximum supply of 0.

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  • What is the market cap of GMX (GMX)?

    The current market cap of GMX is 539.71M. It is calculated by multiplying the current supply of GMX by its real-time market price of 56.94.

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  • What is the all-time low price of GMX (GMX)?

    The all-time low of GMX was 0 , from which the coin is now up 0%. The all-time low price of GMX (GMX) is 0. The current price of GMX is up 0% from its all-time low.

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  • Is GMX (GMX) a good investment?

    GMX (GMX) has a market capitalization of $539.71M and is ranked #147 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze GMX (GMX) price trends and patterns to find the best time to purchase GMX.

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