GMX: The sudden surge in this metric could launch the DEX into the orbit

Philippines News News

GMX: The sudden surge in this metric could launch the DEX into the orbit
Philippines Latest News,Philippines Headlines
  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 68%

GMX’s new all-time high in user fees was more than double its previous ATH. The native token was up 6% at press time as bullish sentiments prevailed. According to a tweet by DeFiLlama on 11 February, GMX, a decentralized exchange for spot and perpetual contracts, hit its new all-time high (ATH) in user fees at […]

Another magnetic factor of GMX is the portion of the transaction fee that is allocated to holders of the native token. GMX users receive 30% of the total fees generated on the protocol. This was evident in the vertical rise in revenue for the token holders which followed the rise in fees.Source: Token TerminalThe growth in revenue was reflected in the price of GMX as well. At the time of writing, GMX jumped 5% over the past 24 hours to trade at $66.

The Relative Strength Index was well above the neutral 50 mark and moved sideways, suggesting that bulls could take over the market again. The On Balance Volume moved in an ascending trajectory signaling capital inflow into the market. Though the Moving Average Convergence Divergence was below the signal line, a bullish crossover seemed likely.The weighted sentiment and social buzz for GMX lifted with the rise in the protocol fees, as revealed by data from Santiment. This lent credence to the bullish narrative of the token.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uniswap set to solidify its position as leading DEX; community approves…Uniswap set to solidify its position as leading DEX; community approves…Community members have voted in support of Uniswap v3 deployment on the BNB Chain. With the deployment, the DEX will benefit from BNB Chain’s large user base. In spite of opposition from its largest investor Andreessen Horowitz (a16z), the deployment of Uniswap v3 on the BNB Chain has been approved by community members, with Wormhole […]
Read more »

Arbitrum’s performance on this front could help it to edge out competitionArbitrum’s performance on this front could help it to edge out competitionBig DeFi protocols powered Arbitrum’s network activity. Arbitrum’s DEX volume surpassed that of competitors like Optimism and Polygon. Arbitrum’s performance in the DeFi space has been a revelation of late. The sentiment was echoed by data from DeFiLlama, which highlighted the chain’s increasing share of the daily trading volume recorded by Sushiswap [SUSHI], one of […]
Read more »

PancakeSwap: Jump in active user count leads to a surge in revenuePancakeSwap: Jump in active user count leads to a surge in revenueThe count of active users on PancakeSwap in the last month totaled 1.37 million. CAKE’s buying pressure is on a decline, hence a price correction might be due. With 1.37 million users in the last 30 days, PancakeSwap led as the decentralized finance (DeFi) protocol with the most active users in the last month, data […]
Read more »

Possible interest rate hike after Canadian job numbers surge in JanuaryPossible interest rate hike after Canadian job numbers surge in JanuaryCanadian economy adding 150,000 jobs in January is putting pressure on the Bank of Canada to reconsider its pause to interest rate hikes.
Read more »

Canada's job gains surge by 150,000, crushing expectations againCanada's job gains surge by 150,000, crushing expectations againThe Canadian economy added 150,000 jobs in January while the unemployment rate held steady at five per cent. Find out more
Read more »

Calgary Flames get hot in second period for 7-2 win over Buffalo SabresCalgary Flames get hot in second period for 7-2 win over Buffalo SabresAfter falling behind 2-0, the Flames took control with a dominant second-period surge
Read more »



Render Time: 2025-03-20 11:09:05