This month's altcoin rally was led by memecoins
Top Performers
- Pengu: (+307%)
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加六（恋爱老奶版）
The evil old lady has recently been looking at new perp DEXs, and edgeX is her favorite one.
1. First of all, edgeX is incubated by Amber Group, and the team members include a bunch of people from Goldman Sachs, Morgan Stanley, and CEX.
2. edgeX has been operating for just a year, and its growth in the new generation of Perp DEXs is very fast, especially in terms of depth, fee income, speed, and trading volume. It has been performing well in the Korean community, and the evil old lady has been lurking in their TG group for a long time.
3. The depth for Bitcoin and Ethereum is very good, ranking among the top in perp DEXs. At first, when people said this, I honestly didn't believe it, but they pulled up the order book data for me, showing:
4. Initially, there was no advantage in fees compared to others, but two weeks ago, they lowered the fees and also compensated some users who had previously paid higher fees with some points.
Without large-scale "token issuance expectations," both trading volume and fee income have grown well, indicating that there is a user base, which is different from the trading volume generated by zero fees. Additionally, yesterday, the 24-hour trading volume exceeded $1 billion, and the trading volume is increasing.
5. The treasury eLP has implemented dynamic hedging, significantly improving capital utilization and risk management. I haven't looked into this in detail yet, but I can write a separate article next time to discuss the advantages.
6. In the long run, edgeX will also upgrade from the current perp app to a high-performance financial chain.
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The Learning Pill 💊
what's positively highlighted here 👇
the increase and consistent perp DEX volume = good sign of market capture with sustained user interest in $ARB protocols
as @arbitrum continues to expand its reach, onboarding new protocols (e.g. via DRIP), supporting popular tradfi institutions as a app-building rail, we're likely to see further growth in ecosystem app activities
it's shaping up to be a wonderful flywheel that can attractively incentivise users and builders alike
ARBITRUM EVERYWHERE
Cheeezzyyyy
.@arbitrum's steady-state growth today is heavily driven by its perps landscape since inception.
Over the years, it has matured with a robust diversity of markets + innovative designs.
With $837B+ in cumulative volume, this is one of the most active & liquid chains for on-chain trading.
Avg. weekly volumes have grown 5x over the last two years (From ~$1B/week (2022–2023) → consistently >$5B/week since Q3 2024)
As the ecosystem evolves, Arbitrum is now setting the stage for the next wave of growth:
Institutional-grade + RWA-related markets → expanding distribution beyond DeFi
This marks a pivotal structural shift in terms of where adoption is heading towards into the future.
Arbitrum Everywhere🫡
h/t @DefiLlama for the data references.
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GMX 🫐
The governance vote on the distribution plan for the recovered funds from Arbitrum GLP is now live on Snapshot.
Tokenholders, please take part and express your preference:
🔸
GMX 🫐
The GMX DAO community has addressed key questions around the distribution plan for the recovered GLP funds. A follow-up vote is expected to go live on Snapshot tomorrow, Thursday.
Once the results of this vote are in, the distribution of the funds to users will begin.
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Convert USD to GMX
GMX
USD
GMX price performance in USD
The current price of GMX is $13.0700. Over the last 24 hours, GMX has decreased by -1.13%. It currently has a circulating supply of 10,215,971 GMX and a maximum supply of 13,250,000 GMX, giving it a fully diluted market cap of $133.93M. At present, GMX holds the 150 position in market cap rankings. The GMX/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades and, as of writing, has the highest total value locked (TVL) of any project on Arbitrum. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees and leverage trading. $GMX is the utility and governance token.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 2.9K new posts about GMX, driven by 1.4K contributors, and total online engagement reached 715K social interactions. The sentiment score for GMX currently stands at 72%. Compared to all cryptocurrencies, post volume for GMX currently ranks at --. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of GMX.
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X
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GMX FAQ
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Currently, one GMX is worth $13.0700. For answers and insight into GMX's price action, you're in the right place. Explore the latest GMX charts and trade responsibly with OKX.
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