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GMX — GMX
A trading venue for bets on price movements with borrowed money, where you keep custody of your coins yourself.
What it is for
- Set out to
- Leveraged trading against a shared liquidity pool instead of against an order book.
- Today in addition
- V2 with individual GM markets, expansion to Avalanche and Solana.
- Notable
- Prices come from oracle feeds, not from its own pool.
- Strength
- A share of the fees goes to stakers.
- Weakness
- Liquidity providers hold the other side of the traders.
Contract address
Chain: Arbitrum One
0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a
Unabridged and deliberately not linked: a blockchain explorer that we have not checked would be a statement we cannot support.
Excluded after the assessment
38 of 93 obtainable points, share 40.9 percent – excluded.
Exit depth 16,402 dollars at Coinbase and Kraken combined, threshold 25,000 dollars. This asset trades on 12 of the 15 largest exchanges. The rule measures only two venues.
This figure fluctuates heavily. For Kyber it fell on September 5, 2026 within fourteen minutes from 26,316 to 24,810 dollars — from above to below the threshold. For dYdX the first measurement was off by more than a factor of two. A single measurement therefore decides nothing; an asset is excluded only if it falls below in two separate measurements.
That is a statement about tradability, not about the holding. All discarded assets
Score
38of 93
Market capitalization
$78Mas stored
against Bitcoin, 90 days
—not against the dollar
CoinMarketCap
#11857numeric identifier
This asset is not in the sector barometer.
The four cycles
Measured on daily closing prices, never on daily highs or lows. The cycle boundaries are Bitcoin’s own highest and lowest daily closes: January 14, 2015, December 16, 2017, December 15, 2018, November 8, 2021, November 21, 2022, October 6, 2025 and the current low on June 30, 2026. A day counts only if at least ten thousand dollars were traded on it. The price against Bitcoin is given in satoshi — one satoshi is one hundred-millionth of a bitcoin.
| Cycle | Lowest daily close | Highest daily close | Rise low → high | Fall high → low |
|---|
| 2015 to 2017January 14, 2015 to December 16, 2017 | did not yet exist |
| 2018 to 2021December 15, 2018 to November 8, 2021 | existed, but not measurable — reliable exchange days only from September 28, 2024 |
| 2022 to 2025November 21, 2022 to October 6, 2025 | $10.32†13,168 satApril 6, 2025 | $44.19†43,677 satDecember 8, 2024 | in dollars +$9.34 (+90.5%)against Bitcoin +28.2%from $10.32 on April 6, 2025 to $19.66 on August 9, 2025 | in dollars -$33.87 (-76.6%)against Bitcoin -69.9%from $44.19 on December 8, 2024 to $10.32 on April 6, 2025 |
Only partly measured: reliable trading only from September 29, 2024. What lay before that in the window is not recorded; the figures above are the endpoints of the measured part, not those of the whole cycle. |
| Year by year |
| 2024: in dollars +4.8% (from $25.85 to $27.09) · against Bitcoin -26.4% |
| 2025: in dollars -46.6% (from $28.02 to $14.97) · against Bitcoin -58.5% |
| since 2026, ongoingJune 30, 2026 to September 17, 2026 | $6.5010,017 satAugust 7, 2026 | $7.949,883 satSeptember 6, 2026 | in dollars +$1.44 (+22.2%)against Bitcoin -1.3%from $6.50 on August 7, 2026 to $7.94 on September 6, 2026 | in dollars -$0.3200 (-4.0%)against Bitcoin -1.5%from $7.94 on September 6, 2026 to $7.62 on September 9, 2026 |
Only partly measured: reliable trading only from July 24, 2026. What lay before that in the window is not recorded; the figures above are the endpoints of the measured part, not those of the whole cycle. |
| Year by year |
| 2026: in dollars +9.2% (from $7.10 to $7.75) · against Bitcoin -9.4% |
If the high of a window comes before the low, the rise is calculated from the low to the next interim high within the same window.
† For twelve assets the highest and the lowest closing price come from a window of 720 days, because the source does not reach further back. This window moves with the retrieval date. Both closes reported can therefore change without the market having moved.
The four questions that are always answered
Net supply and issuance pressure8 of 20
Starting valuation and size leverage12 of 14
Survivability8 of 12
Relative strength against Bitcoin2 of 6
the score is calculated from all twelve criteria. What the twelve questions measure and what has been corrected about the measurement is on the method page.
The remaining criteria are not recorded individually for this asset; the total comes from the assessment of September 5, 2026.
The figures in detail
Price, as stored$7.48
against Bitcoin, 7 days—
against Bitcoin, 30 days—
listed on CoinMarketCap sinceSeptember 2021
Age since listing4.98 years
Fees relative to valuationnot determined
Supply still lockednot researched
hard supply capnot researched
Carried by Nexocarried
Trading venues of 15 checked12 of 15
The fifteen largest centralized exchanges by the CoinMarketCap ranking were counted, as of September 5, 2026. Decentralized exchanges do not count. Bybit is not included in any figure, because the venue was not reachable through sixteen address forms. Which five venues are the best for each asset has not been collected yet.
Finding
For this asset the summarized finding has not yet been transferred to this page. The individual reasons for all twelve criteria are in the assessment file Completion C1, September 5, 2026.
Investors and partners: not researched — awards no points, because projects with large backers did not perform better.
Nexo: Carried by Nexo — purchase page documented on September 1, 2026.
No investment advice, no price forecast, no buy or sell recommendation. A high score does not mean “will rise”. It means the asset scores better on these questions than the others.