• GMX token project has surpassed $2.7 million in fees
• GMX spot and perpetual DEX created on Avalanche and Arbitrum had accumulated more than $2.74 million in fees
• GMX holders will receive 30% of the fees as revenue
The cryptocurrency project GMX has experienced tremendous growth, having surpassed $2.7 million in fees as of January 9th, 2023. This is a staggering increase of $900,000 recorded on Jan.8th ($1.8M in 24hrs).
The spot and perpetual DEX created on Avalanche and Arbitrum have been a driving force behind the project’s success, accumulating more than $2.74 million in fees. This marks a record high for GMX since its introduction in September 2021 and second to ethereum this year. GMX holders will reap the rewards, receiving 30% of the fees as revenue, approximately $822,000.
CoinStats and coinstats.info have recorded GMX’s 24hr price as $44.41 with a $13,895,628 trading volume in both centralized and decentralized exchanges, having $11,048,665 and $2,846,963, respectively. There has been a 1.06% increase in the past 24hrs, pushing the coin to 79th on Coinmarketcap with a market capitalization of $372.5 million and a circulating supply of 8.4 million (GMX coins). Its fully diluted market cap is $390 million, with a 1.35 increase.
On GMX’s website, it has been noted that the project has a total volume of $76 billion, with a deviation of +47.7 million. Additionally, the total fee of $105 million is an 81.2 k increase. On January 6th, Arbitrum posted on Twitter that the organization had surpassed $100 million in total fees. GMX DEX also has an increase of 123 users from 182,217 unique ones and an open interest of $119 million.
Overall, it is clear that GMX is a growing cryptocurrency project that is generating more and more fees and success for its holders. With its continued growth and development, GMX is sure to be a major player in the cryptocurrency space for years to come.
