GMX
$12.95

GMX (GMX) Price

$12.95
  • 1D
  • 7D
  • 1M
  • 3M
  • 1Y
  • ALL

GMX (GMX) Price Today

The live price of GMX is $12.95 USD. In the past 24 hours, the trading volume of GMX was $15.3M USD, with a change of +0.63%. The current live price of GMX has changed by 0% from its 7-day high of $- USD and by 0% from its 7-day low of $- USD. With a circulating supply of $10,208,413.82 GMX, the market cap of GMX is currently $130.7M USD, marking a -61.43% change in the last 24 hours. GMX currently ranks 280 by market capitalization.

GMX (GMX) Market Data

Market Cap
$132.2M
24h Volume
$15.3M
Circulating Supply
10.2M GMX
Maximum Supply
13.2M GMX
Fully Diluted Market Cap
$171.6M
Liquidity Indicator
11.60%
About
Rate
Buy
Leaderboard
FAQ

About GMX (GMX)


What Is GMX and How Does It Work?


GMX is a leading decentralized exchange (DEX) that specializes in spot and perpetual contract trading with up to 100x leverage on popular cryptocurrencies like BTC, ETH, AVAX, and other major assets. The platform operates as a permissionless perpetual exchange that allows users to trade directly from their self-custody wallets without requiring KYC verification or account creation.

Unlike traditional centralized exchanges that use order book models, GMX employs an innovative automated market maker (AMM) approach powered by multi-asset liquidity pools. The platform's core innovation lies in its unified liquidity pool system, which eliminates the need for individual trading pairs and provides zero price impact trades regardless of order size.

GMX operates on a dual-token ecosystem consisting of GMX (the utility and governance token) and GLP (the liquidity provider token). The exchange uses Chainlink's decentralized oracle network to provide accurate, real-time price feeds, ensuring transparent pricing and preventing irregular liquidation events.

When Was GMX Launched?


GMX was originally launched in September 2021 under the name Gambit Financial on the BNB Smart Chain. The project was founded by an anonymous team, with the lead developer known as @xdev_10 on social media platforms.

The platform underwent a significant transformation when it migrated to Arbitrum in September 2021, coinciding with Arbitrum One's mainnet launch. This migration marked the rebranding from Gambit to GMX and involved consolidating four separate tokens (XVIX, GMT, XLGE, and xGMT) into the unified GMX token at a rate of 2 USD for 1 GMX.

In January 2022, GMX expanded its multi-chain presence by deploying on Avalanche, an EVM-compatible smart contract platform. This expansion allowed users to access GMX's trading services across multiple high-performance blockchain networks, enhancing accessibility and reducing dependency on any single network.

What Are the Primary Use Cases of GMX Token?


GMX serves multiple essential functions within the GMX ecosystem:

1. Governance and Protocol Voting: GMX token holders can participate in governance decisions by voting on protocol upgrades, fee structures, and ecosystem development proposals. This democratic approach ensures community-driven development and platform evolution.

2. Staking Rewards and Fee Sharing: Users who stake GMX tokens receive 30% of all platform fees generated from trading activities. Stakers also earn escrowed GMX (esGMX) tokens and multiplier points that boost their yield over time, creating additional incentives for long-term holding.

3. Platform Utility and Access: GMX tokens serve as the primary utility token for accessing advanced platform features, participating in governance votes, and unlocking enhanced trading capabilities within the ecosystem.

4. Liquidity Provision Incentives: GMX tokens are distributed as rewards to liquidity providers who mint GLP tokens and contribute to the platform's multi-asset pools, ensuring continuous liquidity for traders.

5. Cross-Chain Bridge Operations: GMX tokens can be bridged between Ethereum, Arbitrum, and Avalanche networks, providing users with flexibility to access GMX services across multiple blockchain ecosystems through protocols like Synapse.

What Is GMX Tokenomics?


1. Supply Structure: GMX has a maximum supply of 13.25 million tokens, though this is not a hard cap. The protocol documentation indicates that minting beyond the maximum supply is controlled by a 28-day timelock and requires governance approval for specific use cases like liquidity mining for new products.

2. Distribution and Circulation: Approximately 10.2 million GMX tokens are currently in circulation, representing about 77% of the maximum supply. The remaining tokens are reserved for future ecosystem development, liquidity mining programs, and protocol growth initiatives.

3. Token Utility and Demand Drivers: GMX tokens derive value from multiple utility functions including governance participation, fee sharing from platform revenue, staking rewards, and liquidity provision incentives. The token's deflationary pressure comes from buybacks using platform fees and the vesting requirements for escrowed rewards.

4. Multi-Chain Economics: GMX operates across Ethereum, Arbitrum, and Avalanche with bridging capabilities, allowing token holders to access staking rewards and governance features on their preferred network while maintaining unified tokenomics across all chains.

What Blockchain Network Does GMX Operate on?


GMX primarily operates on Arbitrum One, an Ethereum Layer 2 scaling solution that provides significantly lower transaction costs and faster confirmation times compared to Ethereum mainnet. The platform launched simultaneously with Arbitrum's mainnet, making it one of the earliest and most established applications on the network.

The protocol expanded to Avalanche in January 2022, offering users access to another high-performance blockchain network with sub-second finality and low fees. Both Arbitrum and Avalanche implementations maintain the same core functionality, allowing users to trade, stake, and participate in governance regardless of their chosen network.

GMX has recently expanded to Solana in March 2025 under the name GMX-Solana, further diversifying its multi-chain presence and providing users with additional options for accessing the platform's services. This expansion demonstrates GMX's commitment to blockchain agnosticism and accessibility.

The platform utilizes cross-chain bridges, particularly Synapse, to enable seamless token transfers between supported networks. Users can bridge GMX tokens between Ethereum and Arbitrum, as well as between Arbitrum and Avalanche, maintaining their holdings' utility across different blockchain ecosystems while accessing network-specific benefits and optimizations.

Which Wallet Support GMX Tokens?


GMX tokens are supported by popular wallets including MetaMask, Rabby Wallet (recommended by GMX), Trust Wallet, Rainbow Wallet, and any WalletConnect-compatible wallets. Hardware wallets like Ledger and Trezor also support GMX tokens through Arbitrum and Avalanche integrations.

When selecting a wallet, ensure it supports Arbitrum and Avalanche networks with custom token addition capabilities for optimal trading experience.

What Makes GMX a Good Investment?


1. Proven DeFi Protocol Performance: GMX has established itself as a leading derivatives DEX with over $277 billion in cumulative trading volume and 728,000 total users. The platform consistently generates substantial fee revenue, with over $308 million in cumulative fees collected, providing sustainable income for token holders.

2. Innovative Multi-Asset Pool Technology: GMX's unique liquidity pool design eliminates impermanent loss for liquidity providers while offering zero price impact trades. This technological advantage sets it apart from traditional AMM models and provides superior trading experiences compared to order book-based exchanges.

3. Strong Revenue Sharing Model: GMX token stakers receive 30% of all platform fees, while GLP liquidity providers earn 70% of fees. With over 63% of circulating supply currently staked, this creates strong token demand and provides consistent yield for holders, making it attractive for income-focused investors.

4. Multi-Chain Expansion Strategy: The platform's presence on Arbitrum, Avalanche, and recent expansion to Solana demonstrates strategic growth and reduced single-network dependency. This multi-chain approach expands the total addressable market and provides resilience against network-specific risks.

5. Institutional and Ecosystem Integration: GMX serves as a foundational liquidity layer for over 80 other DeFi protocols, demonstrating its importance in the broader ecosystem. The platform's security measures include comprehensive audits and a $5 million bug bounty program, providing confidence for institutional adoption and large-scale usage.

What's the Difference Between GMX and Its Major Competitors?


GMX faces significant competition in the decentralized derivatives trading space, particularly from Hyperliquid and dYdX. Each platform employs different technological approaches, trading models, and target user strategies to capture market share in the rapidly evolving DeFi ecosystem.

GMX vs Hyperliquid


1. Infrastructure and Performance: Hyperliquid operates on its own Layer-1 blockchain with HyperBFT consensus, enabling 100,000 TPS and zero gas fees, significantly outpacing GMX's Layer-2 infrastructure.

2. Trading Models: Hyperliquid uses orderbook models similar to centralized exchanges with advanced order types, while GMX employs AMM-based approach with multi-asset GLP pools that eliminate price impact.

3. Market Coverage and Performance: Hyperliquid supports over 130 trading markets and achieved $21 billion daily volume with 64.8% market share, compared to GMX's focused asset selection and zero slippage oracle-based pricing.

4. Competitive Advantages: GMX excels in multi-chain presence and proven revenue-sharing model, while Hyperliquid attracts high-frequency traders with CEX-like speed and user experience.

GMX vs dYdX


1. Infrastructure: dYdX operates on its own Cosmos-based blockchain (V4) using orderbook models, contrasting with GMX's AMM model and multi-chain Layer-2 approach on Arbitrum and Avalanche.

2. Leverage and Markets: dYdX offers up to 20x leverage across 200+ perpetual markets, while GMX provides 100x leverage on a more focused asset selection.

3. Liquidity and Revenue: GMX's GLP pools provide 70% fees to liquidity providers without impermanent loss, while dYdX relies on professional market makers and trading incentives.

4. Target Users: dYdX targets professional traders with advanced features like cross-margining and API access, while GMX emphasizes simplicity and accessibility for retail users.

Has GMX Experienced Major Security Incidents?


On July 9, 2025, GMX experienced a $42 million security breach when hackers exploited the GLP pool on GMX V1. The attack targeted the platform's Arbitrum deployment, with around $32 million stolen from Arbitrum and an additional $9.6 million transferred to Ethereum. In response, GMX immediately disabled trading, minting, and redeeming of GLP tokens on both networks to prevent further damage.

The development team confirmed that the attack was isolated to GMX V1 and did not affect GMX V2, the GMX governance token, or other liquidity pools. The security incident caused GMX token price to drop more than 10% within 24 hours. Despite maintaining a $5 million bug bounty program and multiple security audits, the incident demonstrated that even established DeFi platforms remain vulnerable to sophisticated attacks.

GMX officials worked closely with security experts to investigate the exploit and committed to publishing a detailed incident report while implementing additional security measures to protect user funds.

Information source

Official WebsiteWhitepaper

GMX (GMX) Price Converter

GMX to USD
1 GMX = $ 12.96
GMX to VND
1 GMX = ₫ 338,452.74
GMX to EUR
1 GMX = € 11.08
GMX to TWD
1 GMX = NT$ 378.98
GMX to IDR
1 GMX = Rp 210,338.50
GMX to PLN
1 GMX = zł 47.29
GMX to UZS
1 GMX = so'm 164,013.07
GMX to JPY
1 GMX = ￥ 1,910.23
GMX to RUB
1 GMX = ₽ 1,011.63
GMX to TRY
1 GMX = ₺ 520.59
GMX to THB
1 GMX = ฿ 420.49
GMX to UAH
1 GMX = ₴ 541.36
GMX to SAR
1 GMX = ر.س 48.60
GMX Price Converter

How to Buy GMX (GMX)

Create & Verify Your Account
Create a free BingX account using your email or phone number, set a strong password, and complete identity verification (KYC) by submitting your personal details and a valid photo ID.
Fund Your Account
Choose a payment method—bank account, card, or more—to deposit funds into your BingX account.
Trade Now
Now that your account is funded, you can seamlessly trade GMX GMX and other cryptocurrencies while exploring BingX’s diverse trading features!
How to Buy GMX Guide

Frequently Asked Questions about GMX (GMX)

How much is 1 GMX (GMX) worth?
What is the price prediction for GMX (GMX)?
What is the all-time high price of GMX (GMX)?
What is the all-time low price of GMX (GMX)?
How much GMX (GMX) is there in circulation?
What is the market capitalization of GMX (GMX)?
Disclaimer:
Price analysis and valuation are influenced by multiple factors, and theoretical projections do not guarantee that a token will reach a specific price level. The information provided is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.
By accessing and using this platform, you agree to comply with our Terms of Use.
Trading cryptocurrencies and other financial instruments involves risks, including the potential for loss of funds. You should never trade more than you can afford to lose. Please be aware of the risks involved and seek independent financial advice if necessary.
For more detailed information, please refer to our Risk Disclosure Statement.

Crypto Markets

Bots

Futures Grid
Create
Total Investment (USDT)
--
Users
--
Spot Grid
Create
Total Investment (USDT)
--
Users
--
Spot Infinity Grid
Create
Total Investment (USDT)
--
Users
--
Futures Martingale
Create
Total Investment (USDT)
--
Users
--
Disclaimer:
Price analysis and valuation are influenced by multiple factors, and theoretical projections do not guarantee that a token will reach a specific price level. The information provided is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.
By accessing and using this platform, you agree to comply with our Terms of Use.
Trading cryptocurrencies and other financial instruments involves risks, including the potential for loss of funds. You should never trade more than you can afford to lose. Please be aware of the risks involved and seek independent financial advice if necessary.
For more detailed information, please refer to our Risk Disclosure Statement.