The latest news that has attracted everyone’s attention is the price surge of GMX. Why do you think that the price of crypto is on a hike? What is the possible reason? You may be wondering about this as well.
The price hike of crypto could lead to an increased demand for it in the market. Also, more investors are considering long-term investment.
Here in this news piece let us explore more about all these.
GMX Current Price & Live Market Cap
At the time of writing this article, the price of GMX is 44.63 US dollars.
GMX’s market cap is 244,903,200.16 US dollars with a circulating supply of 9,482,964 GMX and a trading volume of 15,825,430.96 US dollars.
Note that this was the live price of GMX at the time of writing this article. By the time you read it, the price of the crypto may change. You have to understand that the volatile nature of cryptocurrencies often leads to unseen price changes and more.
The price of GMX has gone through a 20% price hike over the last 24+ hours which is a big thing. This price hike has resulted in increasing the buying pressure in the market.
The price of new investors can be seen as related to crypto as well as there are reports that many big players in the industry are considering GMX. This is the fueling factor that supports the price surge predictions.
Is there a detected whale activity in GMX?
The latest reports from our top analysts state there is a suspected crypto whale activity in GMX. The data suggests that a fresh wallet has withdrawn 84,515 GMX tokens. It is a withdrawal worth 3.7 million US dollars. The fresh wallet has made this investment from Binance’s platform.
The assumption about this suggests that it is someone who is based in the US, probably someone who is a top-profile investor.
This action can be seen as the investor’s attempt to accumulate the crypto and create a substantial position in the market of GMX.
The reports suggest that the investor is adding GMX to their portfolio foreseeing the future potential and growth that the crypto may gain.
Let us look at the thoughts of some top investors in the crypto market. One popular and reputed crypto analyst DeFi Man commented that it looks like some big US player is buying GMX in large sizes.
The crypto analysts added that lately there were attempts to execute some big market purchases that have altered the value of the crypto potentially. The comment also read that you really love to see it.
GMX Price Predictions
When we last checked the price of GMX was 45.34 US dollars. The market capitalization of the crypto is 424,800,530 US dollars with the same digits as the fully diluted valuation.
The 24-hour trading volume of the crypto is 115,268,699 US dollars. The total value locked is 540,718,724 US dollars.
The circulating supply of the crypto is 9,523,703 with 9,523,703 itself as the total supply. However, the maximum supply of GMX is estimated to be 13,250,000.
When we look at the tokenomics of the crypto, the following can be comprehended:
45.28% of the supply is allocated to XVIX and Gambit migration, with 15.09% allocated for floor price fund and 15.09% allocated for reserve.
Another 15.09% is allocated for liquidity, with 7.55% for the presale round and the remaining 1.89% allocated for marketing and partnership.
In 2024 the maximum price of the crypot is predicted to be 99.61 US dollars. The GMX price predictions made for 2025 are between 97.37 US dollars and 117.84 US dollars.
In 2024 the crypto is expected to have an average trading price of 91.67 US dollars and in 2025 the crypto is expected to have an average trading price of 112.32 US dollars.
When we look at the price forecast made on crypto for the year 2026, the lowest possible price is noted as 133.70 US dollars, and the highest possible price is forecasted as 164.11 US dollars.
The average price predictions suggest a value of 192.51. Further in 2030, the yearly upper target is 339.59 US dollars.
Also, Read: GMX (GMX) Price Prediction: Market Outlook 2024–2030
Ending thoughts
The price predictions made on the crypot suggest that it has a higher growth potential.
When activity has also been repeated in the crypto, it all hints that the market is preparing a price skyrocketing when it comes to GMX
