GMXGMX

The governance and fee-sharing token of GMX, a decentralized perpetuals exchange on Arbitrum, Avalanche and Solana.

Rank #297Since September 2021

Price on 31 Oct 2026

C$11.09 +28.3% since 31 Jul 2026 · 90.9% below its all-time high

The short version

GMX is the token of the GMX decentralized exchange, launched on Arbitrum in Sep 2021 and run by its contributors and a DAO; a DAO vote sends 27% of fees to GMX buybacks for stakers. On 9 Jul 2025 a re-entrancy bug in the V1 contracts let an attacker take about US$40M of GLP funds; the money was returned for a US$5M bounty and GLP holders were compensated in Aug 2025. On 31 Oct 2026 one GMX cost C$11.09. From 31 Jul 2026 to 31 Oct 2026 its price changed +28.3% in Canadian dollars, and it was 90.9% below its all-time high of C$121.75 set on 18 Apr 2023.^[1]

Facts checked 2 Nov 2026 · 14 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$14.34 (11 Nov 2025) · low C$6.93 (1 Jul 2026) · -19.5%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$11.07	US$7.93
30 Sep 2026	C$11.15	US$7.83
31 Aug 2026	C$10.56	US$7.62
31 Jul 2026	C$8.63	US$6.15
30 Jun 2026	C$7.13	US$5.02
31 May 2026	C$9.36	US$6.79
30 Apr 2026	C$9.97	US$7.32
31 Mar 2026	C$8.57	US$6.15
28 Feb 2026	C$11.35	US$8.32
31 Jan 2026	C$11.41	US$8.42
31 Dec 2025	C$10.97	US$8.01
30 Nov 2025	C$12.34	US$8.83

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$11.09^[1]
3-month change: +28.3% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 90.9% below its high of C$121.75 (18 Apr 2023)^[1]
Market rank: #297, market value about C$118.5M^[1]
Kind: Token · Arbitrum (ERC-20); also Avalanche; the exchange also runs on Solana
Started: September 2021

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?YesA 3-of-4 multisig can mint up to 13.25M, or appoint uncapped minters, after a 1-day timelock^{[2, 3, 4]}

Can anyone freeze or take coins from holders?YesMinters can burn GMX from any address (burn function); the multisig can appoint minters after 1 day^{[2, 5]}

Can the token's contract code be changed?NoFixed contract code on Arbitrum, not a proxy^[6]

Is the supply capped?No13.25M binds only the timelock's own mint; minters it appoints can mint beyond it^{[2, 3]}

Any scheduled unlocks in the next 12 months?NoNo team or investor vesting; esGMX rewards vest over 365 days at holders' choice^[7]

Does a team or foundation hold over 10% of supply?Not disclosedNo allocation table or team wallet disclosure; the DAO treasury holds bought-back GMX^[7]

Do network fees reach coin holders?Yes27% of fees buy back GMX for stakers (US$11.8M past year); payouts paused since 4 Mar 2026^{[7, 8]}

Main network hacked or halted in the past 2 years?YesGMX V1 re-entrancy exploit on 9 Jul 2025 took US$40M of GLP; returned for US$5M bounty^{[9, 10]}

Is a regulator or court case targeting the coin itself?NoNo regulator or court case naming GMX found^[11]

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Run by: GMX DAO (holder votes) with a Security Committee; the token's timelock admin is a 3-of-4 multisig^{[9, 2, 3, 4]}
Admin key: A 3-of-4 multisig controls the GmxTimelock, which can add minters or mint GMX after a 1-day delay, up to 13.25M^{[2, 3, 4]}
Largest holders: The staking contract holds 42.6% of GMX; a custodial wallet that holds coins for many users 12.5% (GoPlus)^[5]

Supply

In circulation: 10.69M GMX of a 13.25M maximum (80.7%)^[1]
Maximum: 13.25M set in the timelock; 10.69M exist; more needs the multisig acting through the timelock^{[3, 1]}
esGMX: Staking rewards paid as escrowed GMX vest into GMX over 365 days^[7]
Unlocks: None scheduled beyond esGMX vesting; no team or investor vesting table is published^[7]

Use and fees

Main use: Staking for 27% of GMX exchange fees (as bought-back GMX) and governance votes^[7]
Exchange fees: US$26.2M on Arbitrum and Avalanche plus US$23.4M on Solana in the past year^[12]
Paid to holders: US$7.1M (EVM) and US$4.7M (Solana) to holders in the past year; distributions suspended since 4 Mar 2026 while GMX accumulates^{[8, 7]}

Trading

Daily trading: About C$4.8M a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 3.83% of its market value changes hands each day^[1]
20-week average: 12.3% above its 20-week average price^[1]
1-year change: -18.0% in C$^[1]^[13]

History

Not a forecast

Coins ranked 201-500 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 8,067 cases, 1,187 coins

33% were higher a year later^[14]

Typical result: Median -38% after a year; 33% higher after two years
Lost half or more: 44% within a year
Against Bitcoin: 11% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

2 red flags found

Red flag: A re-entrancy flaw in GMX V1 on Arbitrum let an attacker take US$40M of GLP funds on 9 Jul 2025; the funds came back for a US$5M bounty.^{[9, 10]}
Red flag: A 3-of-4 multisig, after a 1-day timelock, can mint GMX up to 13.25M or appoint minters, which can mint beyond that limit and burn any holder's GMX.^{[2, 3, 4]}

Bought-back GMX is held in the treasury and distribution to stakers is suspended (shown as 'Accumulating') until GMX reaches US$90, per the docs.^[7]
A 180-day unstaking wait took effect on Arbitrum and Avalanche on 28 Oct 2026; the wait can be raised on-chain to 365 days.^[7]
GMX finalized a US$44M compensation for Arbitrum GLP holders on 13 Aug 2025, paid in GLV tokens from recovered funds plus US$2M of treasury.^[11]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.