Whales and Institutions Accumulate $15.3 Million Worth of GMX in Buying Spree
CryptoNewsTerminal Staff07 Jun, 2024
Whales and Institutions Accumulate $15.3 Million Worth of GMX in Buying Spree
On-chain data shows that over the past two days, whales and institutions have accumulated a staggering $15.3 million worth of GMX. This buying spree has resulted in a significant 24% price increase for the popular decentralized exchange token. According to crypto analyst EmberCN, six new wallets withdrew a total of 344,000 GMX ($15.3 million) from Binance in the past two days. This substantial inflow of capital from large investors suggests that they are bullish on the long-term prospects of GMX.
