A popular crypto trader analyzes how one decentralized exchange (DEX) altcoin has outperformed most of the cryptocurrency market over the past month.
In a new YouTube video, the anonymous host of InvestAnswers tells his 444,000 subscribers that GMX has significantly outperformed the overall Bitcoin and altcoin markets despite the ongoing crypto bear market. .
“The token is up 59% over the last 30 days, and GNS [decentralized finance (DeFi) ecosystem Gains Network] is up 5%, PERP [futures DEX Perpetual Protocol] 9% decrease, DYDX 24% decrease, FST [FutureSwap] Down 34% All underperforming significantly.
And GMX is only 8% away from its all-time high. This is quite surprising given the nature of the current market.
And I think all of this can be attributed to the loss of trust in centralized exchanges after the fall of FTX. GMX continues to attract unique users, increasing volume and open interest.

GMX specializes in perpetual futures, intended to provide Low swap fees and zero price impact trading, according to the project website.
DEX currently runs on the Ethereum (ETH) scaling solution. Arbitrum Smart Contract Platform Avalanche (AVAX).
GMX is trading at $52.63 at the time of writing. The 83rd largest crypto asset by market capitalization is down 2.3% over the past 24 hours.
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