Binance, the world’s largest cryptocurrency exchange by volume, announced that it has listed a new altcoin. The new listing will take place in the exchange’s Innovation Zone. Here are the details…
Binance lists GMX
Binance has announced that it will list GMX (GMX) in the Innovation Zone. Trading for the GMX/BTC, GMX/BUSD, and GMX/USDT trading pairs will begin today at 13:00 local time. As of writing, users have started to deposit GMX. However, withdrawals will start at 1pm UK time, at the time when trading for trading pairs opens.
As can be seen in the chart above, the news of Binance’s listing drove the price of GMX up over 30 percent. While GMX changed hands at $ 39.33 during the day, it managed to reach a high of $ 54.39. It is currently changing hands at $51.87 with a slight pullback.
What is GMX?
GMX is a decentralized exchange that supports low trading fees and zero price impact trading. GMX is also the altcoin of this ecosystem. Trading offers many services for liquidity providers such as market making, leverage trading. It is also supported by a unique multi-entity pool.
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