The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.
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About GMX
Analysis of 2 Aug 2026GMX is a decentralized spot and perpetual exchange best known for launching liquidity pool-based perpetual trading on Arbitrum and Avalanche. As of June 14, 2026, cached CoinGecko data shows GMX near $5.53, a $57.5 million market cap, rank around #403, and roughly 10.4 million circulating tokens against a 13.25 million max supply.
Full overviewShow less
The protocol remains operational across its core chains and has continued product expansion, including 24/7 gold and silver markets reported in April 2026. The investment case is now less about market leadership and more about whether a profitable, battle-tested derivatives venue can stabilize share after Hyperliquid and other order book DEXs absorbed much of the sector momentum.
