GMX Price Increase
• GMX price closed the day at $61.55 on January 29th, its best daily close since listing on Binance in October.
• Flynt Finance introduced a new investment strategy for its clients using GMX’s GLP, sparking investor interest in the token.
• Transaction volume and total network fees earned on the platform have increased due to a growing number of users on the platform.
GMX Price Eyes $73
The GMX price blasted past a key resistance zone on January 29th, confirming a highly bullish technical setup. The ongoing correction is considered an opportunity to buy the token at a discount which may drive the price further up towards $73.
Flynt Finance Sparks Investor Interest
Investor interest in GMX has been sparked by news that Flynt Finance introduced an investment strategy using GMX’s GLP. This USDC delta-neutral strategy will use DEX’s liquidity pool to provide a stable stream of income for users while still earning high returns through fees generated.
Total Value Locked (TVL)
The Total Value Locked (TVL) on GMX has grown by more than 300% to new record highs of $519.05 million at press time, making up 36% of Arbitrum network’s overall TVL of $1.23 billion. The increase in user numbers has been attributed to these positive fundamentals and on-chain insights triggering higher usage levels on the platform.
Conclusion
GMX is experiencing rapid growth with the total trading volume having exceeded $80 billion and TVL topping record highs of $519 million at press time; all thanks to increased investor interest driven by developments, updates, partnerships or collaborations such as Flynt Finance’s introduction of an investment strategy for its clients using GMX’s GLP . Such positive fundamentals may continue pushing prices higher towards $73 as investors look to take advantage of this discount opportunity provided by ongoing corrections in prices