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Uniswap and GMX are DEX cryptocurrencies.
FTX collapse boosted DEX tokens
UNI may be preferable in the long run
Decentralized exchanges, or simply DEXs, have since become the talk of the town. Collapse of FTXCentralized exchanges such as Binance saw an increase in capital outflows amid growing investor concerns, benefiting DEX platforms. Uniswap and GMX are he one of the companies that have benefited from the investor outflow and boosted their native tokens. But which of the two tokens should you scoop?
Uniswap is the largest DEX and is based on the Ethereum network. Blockchain is fully decentralized, meaning it is not owned or operated by a single entity. Being decentralized also means that users can control their own funds. This is in contrast to centralized exchanges where users must share their private keys. Uniswap uses an automated liquidity protocol trading model.
The Uniswap platform is also open source. Developers can copy the code to build their own decentralized exchange. Users can also list their tokens on Uniswap for free. The platform is compatible with ERC20 tokens.
of Uniswap price The token is $5.31, an all-time high of $45. Any dip-buyer investor would find it attractive. However, despite the recent recovery, UNI remains generally bearish.
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GMX Another DEX token that has been popular recently after being listed on Binance. The platform has also attracted investors exiting centralized exchanges. So what is GMX?
GMX is a decentralized exchange that supports spot swaps and perpetual futures. The platform was first launched via the Arbitrum One network when it went live in September 2021. Users can take advantage of up to 50x leverage on the exchange. Unlike centralized exchanges, users manage their assets through crypto wallets.
DEXs are known for their zero price impact trading and low swap fees. Analysts praise the platform for offering investors unmatched trading fees of up to 30%.
GMX is trading at $46 in the market correction after tapping $60 in the bull market. The latest high was close to GMX’s ATH at $66.
Uniswap is a more established network. UNI is suitable for investors looking for a platform token that has survived several crypto seasons. Dip buyers may also consider UNI a more suitable token due to its very low price. GMX, on the other hand, ranks high in terms of investor returns from transaction fees.The token may be a better option for short-term investors, but not for buyers.
