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GMX

6 pieces · Sep 2022 to Jun 2025

Sectors

DeFi5 Perps3 AI1 Tooling1 Ethereum1 L1/L21

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Coverage per year

22022

22023

12024

12025

Price and coverage

GMX $GMX

Calls: 1 bullish
Since first call, bullish: −84%
vs BTC: −96%
Now: $7.96

bullish thesis bearish thesis coverage, no call map, list or mentionWeekly closes in USD, log scale, as of 23 Oct 2026. Call figures turn cyan when the price moved the way the call pointed. Each marker links to its piece.

Start here · the strongest pieces on GMX

Data17 Apr 2023Mummy Finance data dive: a GMX fork on Fantom and OptimismDune-based stats on Mummy Finance, a GMX fork: cumulative volume, revenue, users, TVL by chain, open interest, margin versus swap volume and MMY staking.Data06 Sep 2022State of Arbitrum, Sept 2022: users, TVL, fees and ecosystem dataData-driven look at Arbitrum with Token Terminal, Dune and L2BEAT numbers on active users, bridge flows, contract deployments, fees, TVL and ecosystem, concluding fundamentals are bullish with growth that is organic and token-free.Breakdown05 Feb 2024TradeVoodoo HIVE: hybrid intent and vault engine for perps on BaseReviews intent-based perp DEXs (Symmio RFQ) and their trade-offs on decentralization and LP participation versus GMX-style pools, then explains how TradeVoodoo's HIVE combines both, with an MPC intent layer run as an EigenLayer AVS and a restaked token, vrETH.

Timeline · every piece, newest first

2025 1

05 Jun 2025Arbitrum Trailblazer 2.0 and Vibekit: a $1M push for agentic DeFiBreaks down Arbitrum's $1M Trailblazer 2.0 grants for agent-based DeFi automation built on Ember's Vibekit MCP framework, with GMX, Pendle, Aave and Camelot integrated first. Argues it positions Arbitrum at the front of the DeFAI wave.BreakdownDeFiAI

2024 1

05 Feb 2024TradeVoodoo HIVE: hybrid intent and vault engine for perps on BaseReviews intent-based perp DEXs (Symmio RFQ) and their trade-offs on decentralization and LP participation versus GMX-style pools, then explains how TradeVoodoo's HIVE combines both, with an MPC intent layer run as an EigenLayer AVS and a restaked token, vrETH.BreakdownPerpsDeFi

2023 2

19 Apr 2023Valuing protocols with Token Terminal financial statements and P/S, P/FShows how Token Terminal's standardized financial statements and P/S and P/F multiples let investors compare dApps and L2s TradFi-style, with Q2 2023 examples of apparent over and undervaluation.ExplainerToolingDeFi

17 Apr 2023Mummy Finance data dive: a GMX fork on Fantom and OptimismDune-based stats on Mummy Finance, a GMX fork: cumulative volume, revenue, users, TVL by chain, open interest, margin versus swap volume and MMY staking.DataPerpsDeFi

2022 2

12 Sep 2022GMX valuation: 10 year DCF of 5.7bn vs 630m FDVRelays a DCF-based case that GMX is undervalued: a 10 year DCF gives 5.7bn against a current FDV of 630m, implying roughly 9x.Market takeDeFiPerps

06 Sep 2022State of Arbitrum, Sept 2022: users, TVL, fees and ecosystem dataData-driven look at Arbitrum with Token Terminal, Dune and L2BEAT numbers on active users, bridge flows, contract deployments, fees, TVL and ecosystem, concluding fundamentals are bullish with growth that is organic and token-free.DataEthereumL1/L2

Often covered with

Arbitrum65 Optimism61 Aave14 Token Terminal9 Pendle14 EigenLayer110 Base28 Fantom20

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