in Altcoin, Altcoins, Analysis, Cryptocurrency

What is the GMX token, and why is it surging today?

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What is the GMX token, and why is it surging today? thumbnail

  • GMX is a DEX that supports spot and perpetual futures on an on-chain interface

  • The token gained after news that it was getting listed by Binance on Wednesday.

  • GMX faces a further correction 

GMX dubs as a decentralised exchange that supports spot and perpetual futures via its on-chain trading interface. Avalanche and Arbitrum power the DEX. GMX supports zero price impact trades at very low swap fees.

A key feature of GMX is that it allows users to borrow up to 30 times

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