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GMX price prediction with the GMX token surging towards all-time highs above $50

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GMX, the token that powers decentralized exchange (DEX) GMX Its namesake, however, saw its bullish momentum fade Thursday amid broader profit-taking across cryptocurrency markets. GMX has been changing hands recently at $49 per token, up from nearly $54 earlier in the day. After rebounding from the 21-day moving average earlier this week, GMX saw an impressive rebound of more than 18% on Wednesday and price predictions are becoming more bullish.

Wednesday’s rebound was driven in part by the broader range upwards across the cryptocurrency marketsThe sector benefited from the positive overall mood in dove rhetoric From the Fed chairman, who signaled a slowdown in the pace of rate hikes in a policy announcement this month. But most of the rally was driven by optimism about GMX’s future as a dominant player in the decentralized finance (DeFi) space.

This update drove the latest GMX rally

According to a tweet from cryptocurrency research house Delphi Digital earlier this week, GMX has recently surpassed Uniswap, which has long been seen as the dominant DEX, in terms of daily fees. On November 28, GMX made $1.158 million against Uniswap’s revenue of $1.061 million.

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https://twitter.com/Delphi_Digital/status/1597638205469523969

Ranked by fees earned over the past seven days, GMX is fourth with $3.6 million in fees, behind Uniswap with $6.4 million, Lido Finance with $6.3 million, and OpenSea with $5.5 million, according to Token Terminal data. This puts GMX ahead of the likes of its well-known DEX competitors such as dYdX And the avi.

GMX dominates permanent DEX trading?

GMX, which runs on Ethereum Second layer sizing solution Arbitrum And also on Avalanche, it’s always a crypto-focused DEX. The platform offers its users attractively low trading fees, as well as a feature that prevents trades from affecting the market price.

Perpetual trading in the cryptocurrency space was until recently dominated by the likes binance and FTX. FTX’s sudden crash early last month hurt the GMX token badly at the time. GMX/USD dropped to $25. So its recent rally means it has recovered in the 100% region in a few weeks.

GMX/USD has recovered nearly 100% from its November lows. Source: TradingView

This may be because some investors are betting on that The collapse of FTX will lead to a shift in perpetual trading towards DEXs A transformation of which GMX could be a major beneficiary. In fact, GMX may have actually benefited from the collapse of FTX, if the recent fee increase is anything to go by.

GMX to an all-time high?

The GMX token offers a unique advantage to its holders that Uniswap’s UNI token does not. 30% of all GMX trading fees are redistributed to the holders of its tokens. In a way, GMX can be valued roughly in a similar way to traditional stocks – that is, as the sum of all expected and discounted future cash flows. In this sense, it stands to reason that as the GMX fee has gone up, the price of the GMX has gone up as well.

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If its fees continue to rise, which could be possible if the platform continues to attract increased interest/demand after FTX’s implosion, GMX is likely to test its record highs in the $60 region.

GMX
GMX/USD is looking to retest its all-time highs. Source: CoinMarketCap

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The Dash 2 Trade ecosystem will be powered by a D2T token, which users will need to purchase and hold to access the platform’s features. Dash 2 Trade is currently running a pre-sale of the token at deeply discounted prices. D2T token sales recently topped $7.65 million and the sale will soon enter its fourth phase, which will see the pre-sale price rise to $0.0533 from $0.0513.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

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Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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