Decentralized Exchange GMX Flips Uniswap in Daily Revenue for First Time Ever
Decentralized exchange GMX has seen a material increase since the FTX implosion establishing itself as a notable market contender.Delphi Digital reported that the platform raked in $1.15 million in trading fees, while that of Uniswap stood at $1.06 million.Moreover, GMX is now the fifth-largest decentralized application on Token Terminal’s dashboard, trailing behind already established players such as Ethereum, OpenSea, dYdX, and PancakeSwap.Formerly known as Gambit Exchange, GMX is essentially a trading platform initially launched on Arbitrum One last September and later this year on Avalanche.
