GMX (GMX) Hits Self Reported Market Cap of $244.45 Million

GMX (GMX) traded down 0.5% against the dollar during the 1-day period ending at 14:00 PM Eastern on May 5th. One GMX token can now be purchased for approximately $25.78 or 0.00040242 BTC on major cryptocurrency exchanges. GMX has a total market capitalization of $244.45 million and approximately $10.81 million worth of GMX was traded on exchanges in the last day. In the last week, GMX has traded down 5.5% against the dollar.

Here is how other cryptocurrencies have performed in the last day:

• KILT Protocol (KILT) traded 0.6% higher against the dollar and now trades at $0.30 or 0.00000471 BTC.
• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 0.7% against the dollar and now trades at $0.0100 or 0.00000016 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

About GMX

GMX was first traded on September 1st, 2021. GMX’s total supply is 9,482,148 tokens. The official website for GMX is gmx.io. The official message board for GMX is gmxio.substack.com. GMX’s official Twitter account is @gmx_io and its Facebook page is accessible here.

According to CryptoCompare, “GMX is a decentralized spot and perpetual exchange that enables low swap fees and zero price impact trades. It operates with a multi-asset pool that generates liquidity provider fees from market making, swap fees, and leverage trading. The platform leverages Chainlink Oracles and aggregates prices from leading volume exchanges to support dynamic pricing.
While GMX hasn’t provided clear information about its founders, the platform utilizes the GMX token within its ecosystem. The GMX token offers various functionalities, including rewards, staking, vesting, and multiplier points. Users can earn rewards, stake tokens for benefits, convert Escrowed GMX to GMX through vesting, and use Multiplier Points to enhance ETH/AVAX APRs. The token plays a vital role in facilitating activities and providing incentives within the GMX ecosystem.”

Buying and Selling GMX

It is usually not presently possible to buy alternative cryptocurrencies such as GMX directly using US dollars. Investors seeking to trade GMX should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy GMX using one of the exchanges listed above.

GMX/USD price chart by TradingView