GMX Plummets 20% on Worries of Price Manipulation of AVAX/USD on Reference Exchanges

The price of the native token on the decentralized derivatives exchange GMX fell 20% over the past 24 hours.

Despite the overall market being in decline, the GMX price seems to have a different reason.

Numerous analysts pointed out price manipulation in the AVAX/USD currency pair. This was later confirmed by the official account at the GMX exchange.

We were notified by community members and monitoring systems about price manipulations of AVAX/USD on references exchanges.

We revie the occurrence, but open-interest for AVAX was capped at $2m long/ $1m short.

GLP and GMX markets for trading continue to function normally.

We were notified by community members and monitoring systems about price manipulations of AVAX/USD on references exchanges.

We are reviewing the event and have set the open-interest limit for AVAX at $2m long/$1m short.

GLP and GMX markets for trading continue to function normally.

— GMX

(@GMX_IO September 18, 2022

In response, the price of GMX is down 20%. The price of GMX has fallen 20% over the last 24 hours. It is currently trading below $40.

CryptoPotato’s first article, GMX plummets 20% due to fears of price manipulation of AVAX/USD on Reference Exchanges, appeared first on CryptoPotato.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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