GMX Price Live is at ₹3,364 | Buy (GMX) with CoinSwitch

What is GMX (GMX)?

GMX is a decentralized exchange (DEX) that offers spot and leveraged trading. It operates on the Arbitrum and Avalanche blockchains and is powered by its native token GMX. Users can trade in BTC, ETH, AVAX, ARB, and other top cryptocurrencies with up to 100x leverage directly from their crypto wallet.

Primary features of GMX (GMX)

• Decentralized exchange (DEX): GMX is a decentralized spot and perpetual exchange, that allows users to trade cryptos directly from their crypto wallets without intermediaries.

• Low fees: The platform facilitates low swap fees and zero-price impact trades, ensuring the best trading experience for users.

• GMX token: GMX token is the native token of the GMX ecosystem. Token holders can participate in the governance, vote on proposals, and also stake their GMX for incentives.

• Cross-chain compatibility: GMX operates on both the Arbitrum and Avalanche blockchain networks. Both the blockchains are designed to boost speed and scalability.

Is GMX a promising cryptocurrency?

As per the latest data and price history, GMX is trading at $25 as of August 2024. The token is positioned at #180 in terms of overall market capitalization. GMX has a 24-hour trading volume of $11,626,602 and is currently ranked 256 in terms of trading volume. The token holds an all-time high of $217 which was reached in November 2021. While the current price of GMX tokens is far off its all-time high, experts forecast the token to reach that level by 2030. It is estimated that GMX will trade between $264 and $325 in 2030.

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How do I use GMX?

• The GMX token can be used as a medium of exchange within the network and to pay network fees.

• GMX token holders can also stake their tokens to earn staking rewards.

• The GMX token is used to reward network participants for their contribution to the protocol’s development.

• GMX token can be bought, sold, or HODLed like any other crypto.

FAQ's on Gmx

1. Is GMX coin secure?

GMX coin is generally considered secure, but it’s important to conduct your own research. Look for audits of the GMX platform’s smart contracts, review the development team’s credentials, and assess the project’s community and reputation for any reported security issues.

2. How fast are GMX coin transaction?

GMX coin transactions are typically fast due to the decentralized nature of the GMX platform, which operates on the Avalanche and Arbitrum networks. Transactions can generally be completed within a few seconds to a minute, depending on network congestion and the specific actions taken on the platform.

3. Has GMX coin price undergone market correction?

Yes, the GMX coin has experienced market corrections. Like many cryptocurrencies, GMX’s price has fluctuated due to market volatility, changes in investor sentiment, and broader market conditions. Price corrections are common in the crypto space as assets adjust to new information and market dynamics. Always check recent charts and historical data for the latest insights.

4. When was GMX coin launched?

GMX coin was launched on September 7, 2021. It is the native token of the GMX decentralized exchange platform, which facilitates trading on the Avalanche and Arbitrum networks.