Bitcoin (BTC) While the price is pushing over $25,000, altcoins are experiencing hot days.
According to on-chain data, two major cryptocurrency company Amber Group and Arca, GMX altcoin started accumulating.
Amber Group and Arca Bought Loads of GMX Altcoins
According to the data, Amber Group purchased 122,144 GMX tokens, worth $9.8 million at the time of this writing, via the crypto exchange Binance.
When the previous data are examined, it is seen that Amber Group has similarly received a total of 7.56 million dollars GMX altcoin transfer from Binance in the last 1 month. Amber Group paid an average of $61.9 per token last month for this purchase, which was made again 122,144, the same as the last purchase.
GMX price climbed up to $81.70 during the day.
Arca, on the other hand, received 66,448 GMX tokens, equivalent to $4.4 million at the time of this writing, from a decentralized exchange.
Arca, on the other hand, has purchased 42,975 GMX tokens at an average of $81.5, paying a total of 2,065 Ethereum ($3.5 million) in the last three days. In addition, the company last month purchased GMX altcoins worth 1 million USDC at an average of $42.6.
GMX is a decentralized spot and perpetual exchange that supports low clearing fees and zero price-impact transactions.
The GMX token hit an all-time high of $217.32 on November 16, 2021. It is currently valued approximately 64% lower than this level.
*Not investment advice.
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