GMX Plummets 20% on Worries of Price Manipulation of AVAX/USD on Reference Exchanges

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The decentralized derivatives alternate, GMX, noticed the worth of its native token plummet by 20% previously 24 hours.

Even although the complete market is presently declining, there appears to be a extra explicit cause for the lower within the GMX worth.

  • Multiple standard analysts took it to Twitter to level out that there was worth manipulation of the AVAX/USD pair, later confirmed by the official account of the GMX alternate.

We have been notified of worth manipulation of AVAX/USD on reference exchanges by monitoring techniques and group members.

While we revie the ocurrence, open-interest for AVAX has been capped at $2m lengthy / $1m quick.

GLP and GMX buying and selling markets proceed to function usually.

  • The worth of GMX has taken a beating in response. The cryptocurrency is down 20% previously 24 hours, presently buying and selling under $40.
  • This additionally takes place amid a broader market pullback the place the overall capitalization plunged by 7.3% previously day, presently sitting at round $940 billion.

The post GMX Plummets 20% on Worries of Price Manipulation of AVAX/USD on Reference Exchanges appeared first on CryptoPotato.


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