Live GMX Price Snapshot
As of July 3, 2025, the live GMX token price stands at $14.10. The cryptocurrency has demonstrated positive momentum with a 6.71% gain over the past 24 hours. During this period, GMX reached a high of $14.11 and a low of $13.04. The token currently holds the #348 position by market capitalization, which totals approximately $143.46 million. The circulating supply remains at 10.20 million GMX tokens out of a maximum supply of 13.25 million.
Understanding GMX: The Token and Platform
What Is GMX?
GMX serves as both the utility and governance token for the GMX decentralized exchange platform. This innovative platform enables users to engage in spot trading, perpetual contracts with up to 30x leverage, and token swaps with minimal fees and zero price impact. The platform utilizes a unique multi-asset automated market maker (AMM) model that provides liquidity for both spot and derivative trading. Price feeds are secured through Chainlink oracles, which aggregate real-time data from multiple exchanges to ensure accuracy.
Key Platform Features
The GMX platform has gained significant traction in decentralized finance (DeFi) due to several compelling features:
- High leverage trading options up to 30x
- Attractive rewards for liquidity providers
- Minimal swap fees compared to traditional exchanges
- Zero price impact on trades
- Cross-chain functionality on Arbitrum and Avalanche networks
Historical Price Performance
All-Time High and Low Records
GMX reached its historical peak price of $91.07 on April 18, 2023. Conversely, the token experienced its lowest valuation of $9.61 on April 7, 2025. These extreme price points provide important context for understanding the token's volatility and potential growth patterns.
Price Evolution Since Launch
Following its initial launch on Arbitrum in September 2021 at $15.73, GMX experienced typical market fluctuations. After a brief decline to $11.97 in its first month, the token began a sustained upward trajectory, culminating in a January 2022 high of $62.10. Like most cryptocurrencies, GMX faced challenges during the 2022 bear market, dropping to $11.53 in June of that year. However, the token demonstrated remarkable resilience and recovery in subsequent months.
GMX Tokenomics and Distribution
The GMX token operates with a maximum supply of 13.25 million tokens, though this limit can be adjusted through governance proposals with a 28-day timelock. The current distribution model allocates tokens as follows:
- 7.5% to pre-sale participants
- 45.3% for token holders migrating from previous protocols
- 15.1% for the Floor Price Fund
- 30.2% equally divided between liquidity and reserve pools
- 1.9% dedicated to marketing and partnership initiatives
Development Background and Founders
GMX emerged from the merger of several tokens including XVIX, XLGE, GMT, and xGMT. The protocol's origins trace back to the Gambit Protocol, which initially operated on BNB Chain (formerly Binance Smart Chain). The community subsequently voted to migrate to Arbitrum, an Ethereum Layer 2 scaling solution.
While GMX operates as a decentralized protocol with community governance, two individuals associated with the project's multisig wallet include Benjamin Simon (co-founder and CEO of Stealth Crypto) and Krunal Amin (Founder and CEO of UniDex).
Storage and Security Considerations
Since GMX operates on both Arbitrum and Avalanche blockchains, users can store their tokens in any compatible wallet. Popular options include software wallets like MetaMask and Trust Wallet, as well as hardware storage solutions such as Ledger Nano X for enhanced security.
Acquisition Options
GMX tokens are available on multiple major cryptocurrency exchanges. Investors can purchase GMX through spot trading pairs, with GMX/USDT being among the most liquid options. For those seeking advanced trading features and secure transactions, 👉 explore reliable trading platforms that support this emerging asset.
Frequently Asked Questions
What factors influence GMX's price movement?
GMX's price responds to several market factors including overall cryptocurrency market trends, platform adoption rates, trading volume on the GMX exchange, updates to the protocol, and broader DeFi sector performance. The token's unique value proposition as both a governance token and revenue-sharing asset also contributes to its valuation dynamics.
How does staking GMX work?
GMX holders can stake their tokens on either the Arbitrum or Avalanche networks to earn rewards. These rewards can be claimed directly to a wallet or compounded to increase future earnings. The staking mechanism provides passive income while supporting network security and liquidity.
What makes GMX different from other DEX tokens?
GMX distinguishes itself through its multi-asset pool design, zero price impact trades, and sophisticated liquidity provider rewards system. The platform's focus on perpetual futures trading with high leverage options sets it apart from simpler swap-based decentralized exchanges.
Can GMX's maximum supply change?
Yes, the maximum supply of GMX tokens can be modified through community governance proposals. However, any changes require a 28-day timelock, providing token holders with sufficient time to react to proposed adjustments.
Is GMX available on multiple blockchains?
Currently, GMX operates primarily on Arbitrum and Avalanche networks. This multi-chain approach provides users with flexibility and access to different ecosystems while maintaining consistent platform features across chains.
How secure is the GMX platform?
The GMX protocol employs multiple security measures including Chainlink oracles for reliable price feeds, smart contract audits from reputable firms, and a decentralized governance model that allows token holders to vote on protocol upgrades and security measures.
What trading pairs are available on GMX?
The GMX platform supports numerous trading pairs including major cryptocurrencies like Bitcoin, Ethereum, and other popular altcoins. The platform continuously adds new pairs based on community demand and liquidity availability.