GMX is an innovative decentralized exchange that lets you swap cryptocurrencies for lesser fees. It is possible to use GMX without extra effort. You can trade your cryptocurrencies on the blockchain by just linking your wallets. Read the article for more exciting and latest details about GMX in this digital age. Check out the functionalities, performance, tokeomics, future price forecast, buying option, buying process and credibility.
Let’s dive in:
What is GMX (GMX)?
GMX is a decentralized exchange like Bitcoin, Ethereum, and others. Its native token is GMX, which serves as the GMX’s protocol governance, utility, and value-accrual token. Users who hold GMX can stake GMX tokens to gain a percentage of the GMX protocol fees, among other benefits. GMX uses Oracle-based infrastructure to enable trade operations and runs on the Arbitrium and Avalanche blockchain.
| Ticker Name | GMX |
| Market Cap | $325,759,478 |
| 24-hour Trading Volume | $20,837,183 |
| Total Supply | 9,532,495 |
| Max Supply | 13,250,000 |
| Chains | Arbitrum Ecosystem, Avalanche Ecosystem |
How does GMX (GMX) work?
GMX brings unique qualities to the field of decentralized trading:
Key factors of GMX (GMX):
Several key factors demonstrate that GMX crypto is unique in the crypto universe. Some of them are listed below:
The trading System: Anyone can trade cryptocurrency directly from their private wallet. It is a dual exchange model that supports spot swaps and perpetual leveraged trading. GMX allows users to enter and exit the trading position at no cost. This design will help traders get better entry prices than other exchanges.
The Ecosystem: GMX values community and has attempted to instil teh DeFi ideology of interaction and tool-building, especially among its users. The community should also care about the GMX ecosystem.
Staking: You can earn GMX tokens or rewards by connecting your wallet to the GMX landscape. If you confirm your transaction on GMX, you will get 30% of all GMX’s protocol fees.
Rewards: There are three types of rewards under the “Total Rewards”
Tokenomics of GMX (GMX)
Check out the initial token distribution of GMX:
- 42.08% is for XVIX and Gambit Migration
- 15.09% is for Floor Price Fund
- 15.09% is for Reserve
- 15.09% is for Liquidity
- 7.55% is for Presale Round
- 1.89% is for Marketing & Partnership
Future Price Prediction of GMX (GMX)
At the time of writing this, the 24-hour trading volume of GMX is $18,581,077 for the last 24 hours. Based on the market trajectory and other technical indicators, we have made a seven-year price prediction for GMX. This can help you make informed decisions about the investment budget.
Check out the future price forecast of GMX until 2030:
| Year | Minimum Price Prediction | Average Price Prediction | Maximum Price Prediction |
|---|---|---|---|
| 2024 | $54.65 | $68.31 | $81.97 |
| 2025 | $114.44 | $143.05 | $171.66 |
| 2026 | $239.65 | $299.56 | $359.48 |
| 2027 | $501.86 | $627.32 | $752.79 |
| 2028 | $1050.95 | $1313.69 | $1576.43 |
| 2029 | $2200.83 | $2751.03 | $3301.24 |
| 2030 | $4608.80 | $5761.00 | $6913.20 |
Where can you buy GMX (GMX)?
You can easily buy and sell GMX tokens on centralized crypto exchanges. CITEX is the most popular option for trading GMX with a trading volume $74,517.52 with the most active trading pair GMX/USDT. Binance, OrangeX, BYDFi, OKX, LBank, and Bybit.
How can you buy GMX (GMX)?
We have made the investment process simpler for you to follow. Check the steps to make your investment in the GMX community:
Step 1: The first step is to create your free account on the website or application of the exchange.
Step 2: You need to fund the account. It is possible to use multiple payment options like Credit Cards, Debit Cards, Bank Transfers, P2P trading, and Third Party Payment.
Step 3: Now, you can buy the GMX. All you need to do is to select GMX from the “buy and sell” option in the exchange.
Step 4: You can now transfer GMX to your wallet.
It is possible to either hold GMX in your account or save it in your personal wallet. You can also trade GMX for other cryptocurrencies to make passive income. Consider buying a fraction of the token if the price seems higher.
Is GMX (GMX) a credible investment option?
GMX allows any individual with cryptocurrency to benefit from its decentralized exchange services. As we have learned, GMX decided to develop its features in the future with many new services. Based on the analysis of the crypto, GMX seems to be a credible investment option, suitable for both beginners and expert traders.
Crypto investments require your fair share of research. The volatile nature of the market makes it mandatory to investigate the crypto project.
Read more: Curve DAO(CRV) Price Prediction 2024 – 2030, Where To Buy?
