GMX Price in India (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. 

GMX (GMX) was founded in 2021 by a team of anonymous developers. To this day, the founder or founders’ identity remains a mystery. 

• 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.

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.

Download the CoinSwitch app to invest in 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.

• The project follows decentralization at its best with no prominent figure in the project’s spotlight.

• The platform enables low transaction fees and zero-price impact trades.

• Its token GMX is a multi-function token that facilitates transactions within the network and also confers staking and voting rights to token holders.

• While GMX enables cross-network compatibility on Arbitrum and Avalanche, it may not appeal to users who prefer other networks.

• The anonymity of the team behind GMX might be of concern to some users. 

• GMX price is subject to market volatility.

• To trade in GMX (GMX) via CoinSwitch, download the app. 

• Traders can start with just ₹100.

• CoinSwitch offers an easy getaway for crypto trading with just a nominal trading fee.

Not much is known about GMX’s Initial Coin Offering (ICO). The GMX token was gradually introduced to the market through community distribution and platform incentives.