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GMX is a decentralised exchange (DEX) platform for perpetual and spot crypto trading.
It supports Bitcoin, Ethereum and other assets with up to 100X leverage. Over the past 24 hours, the GMX price has increased more than 14%.
The GMX token reached lows of $20 after a recent bearish flip.
Nevertheless, it now trades above $24 as bulls looked to extend gains. Daily volume is up 172% to over $39 million amid upside pressure.
GMX-Solana with Chainlink integration
Recently, the GMX team revealed key improvements, including faster loading times, market data retrieval and chart candles display.
The platform has also launched the APE/USD market, bringing ApeCoin (APE) perpetual swaps and spot trading to users.
However, this comes a day after the exchange added the SUI/USD and SEI/USD synthetic markets.
The goal is to to allow users go long or short on the two coins.
Apart from launching several new assets on the DEX, GMX has seen another milestone – the community-driven project GMX-Solana’s integration of Chainlink Data Streams.
GMX-Solana aims to bring the GMX V2 platform to users within the Solana ecosystem.
GMX-Solana — the community-driven sister project that is bringing GMX V2 to Solana — is adopting @Chainlink Data Streams as its data oracle solution. This integration will provide @GMX_SOL with on-demand access to high-frequency market data backed by battle-tested, decentralised…
The project will leverage Chainlink’s Data Streams as its oracle solution for the GMX-Solana Perp DEX, with various benefits.
Among these is access to secure execution prices, liquidations, and funding rate calculations.
As an extension of the GMX protocol, GMX-Solana allows users to tap into efficiency and transparency when trading perpetual trading.
“GMX-Solana will support hundreds of assets, democratised liquidity provision through GLV, an innovative Trade-to-Mint economic model, and unrivalled execution speed — enabling highly-performant self-custody trading without intermediaries,” the project posted on X.
GMX/USD price
GMX price fell last week after Binance announced the delisting of the GMX/BTC trading pair.
The drop to near $20 had buyers staring at a potential rot to lows seen in April when the token hit $17.90 before recovering to hover above $35 in August.
GMX/USDT chart. Source: TradingViewWhile price remains in the red over the past month with a -6% performance, its flipped positive in the weekly time frame.
GMX/USDT up 14% in the past 24 hours puts it among the top gainers in the largest cryptocurrencies by market cap at $235 million.
Sentiment is positive as bulls hover above $24, suggesting a potential upside continuation is primary support holds.
On the downside, $23.29 and $21.00 could be key zones.
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