$GMX trades at $8.40 as fee allocation shifts to buybacks and cross-chain expansion looms.
What's Happening:
Buyback Vote: Governance passes implementation of GMX buybacks using protocol fees.
Cross-Chain: LayerZero integration in Q1 to unite Arbitrum and Avalanche liquidity.
Upgrade: Bithumb supports Arbitrum network upgrade; GMX ensures stability.
Performance: Price up 4% as V2 volume stabilizes.
Why It Matters:
Moving from ETH rewards to GMX buybacks is a pivotal shift for price action. Constant buying pressure from the protocol itself creates a price floor. Combined with seamless cross-chain liquidity, GMX is maturing into a deeper DEX.
Technical View:
GMX has reclaimed $8.00. The next resistance cluster is at $9.20. Support is building at $8.15. RSI is neutral, allowing room for expansion.
🎯 Key Levels:
Support: $8.15 | Resistance: $8.80
24h Range: $8.30 - $8.55
💡 "Real yield is great. Constant buy pressure is better."
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#GMX #DeFi #Arbitrum #DEX #RealYield
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
