{"id":611820,"date":"2025-06-06T22:00:06","date_gmt":"2025-06-06T22:00:06","guid":{"rendered":"https:\/\/ktsl888.com\/?p=611820"},"modified":"2025-06-06T16:20:38","modified_gmt":"2025-06-06T16:20:38","slug":"gmx-soars-20-amid-crypto-whale-frenzy-is-it-back-in-turbo-mode","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/gmx-soars-20-amid-crypto-whale-frenzy-is-it-back-in-turbo-mode\/","title":{"rendered":"GMX Soars 20% Amid Crypto Whale Frenzy, Is It Back In \u2018Turbo Mode\u2019?"},"content":{"rendered":"

GMX, the native token of decentralized perpetual exchange GMX, has soared over 20% in the past 24 hours. The surge was seemingly fueled by a crypto whale move that ignited the community\u2019s positive sentiment towards the token. Some analysts believe GMX might be preparing for a breakout above the $60 mark.<\/p>\n

Related Reading: AVAX Primed To Break $100 Barrier As Bullish Signs Emerge<\/a><\/div>\n

Whales Send GMX To New Wallets<\/h2>\n

In the early hours of Thursday, a whale withdrew over 85,000 GMX tokens from crypto exchange Binance. Per the reports<\/a>, the whale sent the funds to a fresh wallet, boosting the price surge.<\/p>\n

The whale withdrew 84,515 GMX, worth around $3.77 million, in five transactions for an average price of $43.07. This move propelled the price from $40 to $44 in the following hours. Moreover, the price jump resulted in over half a million in unrealized profit for the crypto investor.<\/p>\n

Similarly, reports of another whale withdrawing GMX from Binance surfaced this morning. According to the post<\/a>, 72,300 GMX tokens were sent to a wallet from Binance. The wallet now holds 82,768 GMX, worth $3.69 million.<\/p>\n

The token\u2019s surge appears to have begun before the whale activity<\/a>. GMX\u2019s price jumped from the $36 price range to the $42 mark on Wednesday, which fueled the positive sentiment of the crypto community.<\/p>\n

In the past 24 hours, GMX rose 22.2%, trading above $44 now. The recent performance represents a 26% and 76.3% price increase in the weekly and monthly timeframes. Moreover, it has registered a surge in its market activity, registering a 121% daily trading volume increase in the last day.<\/p>\n

\"crypto,
GMX’s performance in the three-day chart. Source: GMXUSDT on TradingView<\/a><\/figcaption><\/figure>\n

Crypto Analysts Bullish On GMX<\/h2>\n

The token\u2019s performance didn\u2019t go unnoticed by crypto analysts. The market watchers expressed their bullish sentiment towards GMX and set a short-term target.<\/p>\n

According to Daan Crypto, GMX appears to be running back<\/a> to \u201cturbo mode.\u201d The token is currently up 2x from its bottom registered in April of this year. Moreover, GMX is \u201ctrading back above the daily 200MA\/EMA.\u201d<\/p>\n

To the analyst, the $41 support zone will be a key level to hold going forward. He also considers the $60 price range a good target for the token\u2019s bullish momentum.<\/p>\n

Crypto trader and analyst JJcycles also weighed in on GMX\u2019s performance. The trader highlighted a bullish<\/a> flag pattern on the token\u2019s chart. Per the analyst, GMX is \u201cnicely reversing into the beginning of the third wave.\u201d<\/p>\n

\"crypto,
GMX exhibits a bullish flag pattern. Source: JJcycles on X<\/a><\/figcaption><\/figure>\n

JJcycles also pointed out the token successfully broke out of the $40 resistance level in the following hours. To the trader, it looks like GMX printed the bottom in April when it went as low as $22.<\/p>\n

Additionally, he called out<\/a> those who capitulated within the bottom accumulation range, including Arthur Hayes. \u201cJust like it is supposed to be, capitulators are in pain,\u201d wrote the analyst.<\/p>\n

Related Reading: Fake Crypto Airdrop: Tether\u2019s CEO Warns Of Ongoing Supply Chain Email Exploit<\/a><\/div>\n

As reported<\/a> by NewsBTC, the BitMEX founder was the largest individual holder of GMX, with over 230,000 GMX tokens. In April, Hayes seemingly \u201caccepted capitulation\u201d after sending all his GMX holdings to an address linked to crypto algorithmic trading firm Wintermute Trading.<\/p>\n

At the time, GMX investors criticized the transaction, suggesting that the altcoin was \u201cin that buy zone again.\u201d<\/p>\n

Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

GMX, the native token of decentralized perpetual exchange GMX, has soared over 20% in the past 24 hours. The surge was seemingly fueled by a crypto whale move that ignited the community\u2019s positive sentiment towards the token. Some analysts believe GMX might be preparing for a breakout above the $60 mark. Related Reading: AVAX Primed To Break $100 Barrier As Bullish Signs Emerge Whales Send GMX To New Wallets In the early hours of Thursday, a whale withdrew over 85,000 GMX tokens from crypto exchange Binance. Per the reports, the whale sent the funds to a fresh wallet, boosting the price surge. The whale withdrew 84,515 GMX, worth around $3.77 million, in five transactions for an average price of $43.07. This move propelled the price from $40 to $44 in the following hours. Moreover, the price jump resulted in over half a million in unrealized profit for the crypto investor. Similarly, reports of another whale withdrawing GMX from Binance surfaced this morning. According to the post, 72,300 GMX tokens were sent to a wallet from Binance. The wallet now holds 82,768 GMX, worth $3.69 million. The token\u2019s surge appears to have begun before the whale activity. GMX\u2019s price jumped from the $36 price range to the $42 mark on Wednesday, which fueled the positive sentiment of the crypto community. In the past 24 hours, GMX rose 22.2%, trading above $44 now. The recent performance represents a 26% and 76.3% price increase in the weekly and monthly timeframes. Moreover, it has registered a surge in its market activity, registering a 121% daily trading volume increase in the last day. Crypto Analysts Bullish On GMX The token\u2019s performance didn\u2019t go unnoticed by crypto analysts. The market watchers expressed their bullish sentiment towards GMX and set a short-term target. According to Daan Crypto, GMX appears to be running back to \u201cturbo mode.\u201d The token is currently up 2x from its bottom registered in April of this year. Moreover, GMX is \u201ctrading back above the daily 200MA\/EMA.\u201d To the analyst, the $41 support zone will be a key level to hold going forward. He also considers the $60 price range a good target for the token\u2019s bullish momentum. Crypto trader and analyst JJcycles also weighed in on GMX\u2019s performance. The trader highlighted a bullish flag pattern on the token\u2019s chart. Per the analyst, GMX is \u201cnicely reversing into the beginning of the third wave.\u201d JJcycles also pointed out the token successfully broke out of the $40 resistance level in the following hours. To the trader, it looks like GMX printed the bottom in April when it went as low as $22. Additionally, he called out those who capitulated within the bottom accumulation range, including Arthur Hayes. \u201cJust like it is supposed to be, capitulators are in pain,\u201d wrote the analyst. Related Reading: Fake Crypto Airdrop: Tether\u2019s CEO Warns Of Ongoing Supply Chain Email Exploit As reported by NewsBTC, the BitMEX founder was the largest individual holder of GMX, with over 230,000 GMX tokens. In April, Hayes seemingly \u201caccepted capitulation\u201d after sending all his GMX holdings to an address linked to crypto algorithmic trading firm Wintermute Trading. At the time, GMX investors criticized the transaction, suggesting that the altcoin was \u201cin that buy zone again.\u201d Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":608992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,91120,230,89447,89342,90836,86743,86744,86742],"class_list":["post-611820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-altcoin-bullish","tag-arthur-hayes","tag-crypto-analysts","tag-crypto-prediction","tag-crypto-trader-sentiment","tag-gmx","tag-gmx-price","tag-gmxusdt"],"acf":[],"yoast_head":"\nGMX Soars 20% Amid Crypto Whale Frenzy, \u2018Turbo Mode\u2019 Back?<\/title>\n<meta name=\"description\" content=\"GMX soared 22% in the last 24 hours and 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.","url":"https:\/\/ktsl888.com\/author\/rubmargarcia\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"GMX Soars 20% Amid Crypto Whale Frenzy, Is It Back In \u2018Turbo Mode\u2019?","url":"http:\/\/ktsl888.com\/news\/gmx-soars-20-amid-crypto-whale-frenzy-is-it-back-in-turbo-mode\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/gmx-soars-20-amid-crypto-whale-frenzy-is-it-back-in-turbo-mode\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/thomas-lipke-kkXDhAUnxYI-unsplash.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/thomas-lipke-kkXDhAUnxYI-unsplash.jpeg?fit=1920%2C1182"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Rubmar Garcia"}],"creator":["Rubmar Garcia"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","altcoin bullish","arthur hayes","crypto analysts","crypto prediction","crypto trader sentiment","gmx","gmx price","gmxusdt"],"dateCreated":"2025-06-06T22:00:06Z","datePublished":"2025-06-06T22:00:06Z","dateModified":"2025-06-06T22:00:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"GMX Soars 20% Amid Crypto Whale Frenzy, Is It Back In \\u2018Turbo Mode\\u2019?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/gmx-soars-20-amid-crypto-whale-frenzy-is-it-back-in-turbo-mode\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/gmx-soars-20-amid-crypto-whale-frenzy-is-it-back-in-turbo-mode\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/thomas-lipke-kkXDhAUnxYI-unsplash.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/thomas-lipke-kkXDhAUnxYI-unsplash.jpeg?fit=1920%2C1182\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Rubmar Garcia\"}],\"creator\":[\"Rubmar Garcia\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"altcoin bullish\",\"arthur hayes\",\"crypto analysts\",\"crypto prediction\",\"crypto trader sentiment\",\"gmx\",\"gmx price\",\"gmxusdt\"],\"dateCreated\":\"2025-06-06T22:00:06Z\",\"datePublished\":\"2025-06-06T22:00:06Z\",\"dateModified\":\"2025-06-06T22:00:06Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/thomas-lipke-kkXDhAUnxYI-unsplash.jpeg?fit=1920%2C1182","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/611820"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/614"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=611820"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/611820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/608992"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=611820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=611820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=611820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}