The crypto winter, which kicked off in November last year and accelerated in May this year, plunged several cryptocurrencies hard to the bottom line. The bearish market has negatively impacted several sectors of the crypto space, including DeFi (decentralized finance), lending protocols, and dApps (decentralized apps), wiping out close to $1.4 trillion from the crypto market.
GMX has witnessed high volatility in the price chart, creating confusion in investors to uplift their investment portfolios.
GMX is one of the few cryptocurrencies that witnessed a rise in Q1 of 2022, and it is anticipated to bring more positive momentum amid the crypto winter. However, making an appropriate investment decision is always risky and may go against the wind.
In this article, we will discuss GMX’s potential prices in 2022-2030 so that investors can get a better view of their investment opportunities. Our GMX price prediction aims to bring you GMX project analysis, its expected future price, and the average trading price of every year with our in-depth analysis and research, so you can consider whether GMX is right for you.
GMX Project Analysis
GMX is a decentralized on-chain perpetual contracts exchange with a profit generation mechanism for stakers and liquidity pools (LPs). GMX lures investors with its decentralized exchange (DEX) that offers low trading fees and nearly 30 times leverage.
The evolution of centralized exchanges to decentralized ones is overwhelming, taking the crypto sphere to the next level. GMX stands out as one of the best DEXs as it offers the opportunity to trade several crypto coins futures contracts.
As everything is moving fast in the DeFi industry, GMX protocol actively brings valuable integrations to its network. When regulatory concerns occur, many potential investors switch their focus to decentralized derivatives to continue their investing hassle-free.
GMX is the native governance token of the GMX protocol and can be used to vote for future proposals of the platform. GMX is based on the Arbitrum blockchain, a layer-2 solution for Ethereum with increased transaction speeds and lower costs. GMX can be bridged from Arbitrum to Avalanche by using the Synapse protocol with the platform offering support for both blockchains.
Unlike other trading platforms, GMX gives away all of the trading fees to stakers of GMX and GLP – the platform’s liquidity provider token.
Users can stake GMX to share in a pool of rewards from fees generated by swaps and leverage trading. 30% of all fees are converted to ETH or AVAX and distributed amongst stakers of each blockchain.
Users can generate profits in several ways, such as escrowed GMX and multiplier points rewards. The maximum supply of GMX is 13.25 million tokens, with a potential for growing more as the protocol expands.
Current Market Status
|24-Hour Price Change||+3.7%|
|Circulating Supply||7,990,696.00 GMX|
|All-Time Low||No Data|
|ROI (1 Year)||No Data|
GMX holds the highest TVL (total value locked) on the Arbitrum chain, which is quite impressive compared to its competitors like dYdX and Synthetix, with some differences in the working module.
GMX Price History
It is now the time to shift our attention to GMX price history before digging into our GMX price prediction. It is essential for investors to know about price history to get a better idea of GMX’s future prices and potential. However, it’s important to note that price history is not an indicator of future GMX prices.
GMX started its trading journey at $15 in September 2021. However, the price met some fluctuations, which usually happens to new cryptocurrencies during launch. On 21 September, GMX dropped to a low of $11.22. The bearish momentum was for a short period as GMX quickly recovered and touched a high of $39.46 on 7 November.
GMX had an exponential rise and made an all-time high of $217.32 on 16 November.
The crypto winter kicked off in November 2021 that plunged several cryptocurrencies hard to the bottom line in the price chart, and GMX was no exception. GMX shed its value and closed the year at $21.96. While 2021 was the strongest year for the entire cryptocurrency market, the value met a slump in 2022 as several cryptos could not recover from their bearish trend. However, the GMX token had an incredible journey this year as the token initiated an upward journey and reached $62.79 on 16 January despite the crypto winter.
There were some fluctuations due to several macroeconomic factors that negatively affected the GMX token. Russia’s invasion of Ukraine on 24 February plummeted the GMX token, and the price touched $20.68. GMX saw some upbeat in March and went on a bull run, pushing GMX’s price to a high of $47.28 on 1 April. After that, China’s crypto ban created turmoil in the market, and the GMX token dropped to $25.45 on 4 May.
The crypto winter became hard, followed by Terra’s ecosystem crash, creating panic among GMX investors. GMX started a bearish trend soon, and its price touched $14.12. GMX’s price worsened in June, ending the month at $11.49.
GMX Price Prediction: Technical Analysis
GMX has had an eventful journey in 2021; however, the current trend of GMX is not clear for investors for an appropriate buying opportunity. Hence, our GMX technical analysis aims to bring future price movements so that the trend provides a clear vision for investment.
According to CoinMarketCap, GMX is currently trading at $36.47 with an uptrend of 3.7%. Looking at the daily price chart, our GMX technical analysis reveals that the token is poised to witness more dips in price as GMX has recently broken its immediate support level at $37.68.
The bearish trend came after GMX attempted to break its fundamental resistance level at $49.25 but faced rejection on 6 October. The Balance of Power (BoP) of GMX is trading in a negative range at -0.46, which indicates that the bears are in the league to push GMX down further.
The BoP indicates buyers’ or sellers’ way in the price chart. A measurement above 0 suggests that buyers are controlling the coin, while below 0 shows bears’ domination.
The RSI-14 trend line is also not promising as it trades near the 44-level, which is a selling territory. GMX may witness a sharp fall if the RSI line falls below 40. However, EMA-100 indicates a slight bullish reversal for GMX as it trades below EMA-20 and EMA-50. A short-term bullish reversal to $40 is expected before a bearish bounce back.
The Bollinger band’s upper limit is $50.14; if GMX holds its price above this level, we can see its price rise to the next resistance level of $54. Conversely, the Bollinger band’s lower limit is at $32, below which GMX is predicted to witness a sharp fall to the next support level of $22. However, we may not see any bullish reversal for now as the MACD line continuously goes downwards and trades at -1.6, which hints at a strong bearish momentum.
“GMX’s price for 2022 according to our analysis should range between $28.85 to $43.27 and the average price of GMX should be around $36.06.”AMBcrypto
“The GMX price of 2025 is predicted to be $63.6 if there is only a 10% annual increase in the price. However, GMX’s price could reach $161 if GMX gains 50% annually from now.”CrowdWisdom
“As per our research GMX could hit a maximum price of $55.9 in December and a minimum of $41.61 in october 2022.”CryptoBullsClub
“GMX will be seen as a better option, and with the huge community GMX price will touch new highs… For the year 2022, the price of GMX will be almost $37.76. The maximum price that we can get is $41.75. GMX average price forecast at the end of 2022 can be around $39.18.”TechNewsLeader
GMX Price Prediction 2022
According to our GMX price prediction for 2022, GMX is predicted to attain a maximum price of $41.63 with an average trading price of $39.05. Our technical analysis reveals that GMX can go as low as $37.28.
Potential ROI: 14%
GMX Price Prediction 2023
Our GMX price prediction for 2023 expects a maximum trading price of $65.48, with an average trading price of almost $59.56. GMX might retrace downward with a minimum price of $57.61 by the end of 2023.
Potential ROI: 79%
GMX price Prediction 2024
The fundamentals behind developing the GMX project are bright and overwhelming. Our GMX price prediction for 2024 predicts that the token might continue its bullish momentum, and GMX is potentially projected to achieve a maximum price level of $101.35. GMX might record a low of $84.16, which can be its average trading price.
Potential ROI: 177%
GMX Price Prediction 2025
Our GMX price prediction for 2025 suggests a minimum value of $125.12 and a maximum value of $142.86. GMX’s price forecast for 2024 predicts an average trading price of $129.45.
Potential ROI: 291%
GMX Price Prediction 2026
GMX may witness an exponential rise in 2026 and bring a significant return on investment to its long-term holders. Our GMX price prediction for 2026 expects a maximum price of $217.73 with an average trading price of $184.45. GMX may trade at a minimum value of $179.28.
Potential ROI: 497%
GMX Price Prediction 2027
Over the next five years, the crypto market may bring optimistic hope to the world. Our GMX price prediction for 2027 anticipates that GMX may attain a maximum price of $306.97. GMX may trade at an average price of $268.02 with a minimum value of $258.80.
Potential ROI: 741%
GMX Price Prediction 2028
Our GMX price prediction 2028 analyses that GMX could reach a maximum price of $439.36 and an average trading price of $378.21. The minimum value for the GMX cryptocurrency is forecasted to hit $364.80.
Potential ROI: 1104%
GMX Price Prediction 2029
In the upcoming years, GMX can acquire impactful partnerships due to its solid fundamentals and can push its price upward. Our GMX price prediction for 2029 expects a maximum price for this coin to be $637.91 and a minimum price of $556.07. GMX may reach an average value of $571.20.
Potential ROI: 1649%
GMX Price Prediction 2030
If GMX continues its bullish momentum and the crypto market favors it, we can see a maximum price level of $946.16 with an average trading price of $813.94. However, GMX is projected to hit a minimum value of $791.09 by the end of 2030.
Potential ROI: 2494%
Is GMX a good Investment?
GMX has proved to be one of the flagship dominating cryptocurrencies with a significant contribution to the decentralized finance (DeFi) sector. GMX has much room to expand as many communities support the protocol. However, our GMX price prediction advises investors do their own research and conduct investment advice from experts’ opinions before investing.
Can GMX reach $1000?
The future prices of GMX depend on the crypto market’s nature and favorability. If GMX comes across positive news, then we can expect GMX to touch the $1K mark in no time. However, it may go against the wind if GMX follows negative market sentiments.
Does GMX have a future?
GMX aims to revolutionize the blockchain industry by offering decentralized trading and staking with more integrations. Several crypto analysts and strategists are optimistic about GMX as it can lead the decentralized road of the future. GMX can touch extreme highs as it has a bright future ahead.