- AVAX and GMX have more than 60% and 40% of holders with profits, respectively.
- AVAX has increased its value by more than 100% in the past two months.
AVAX and GMX tokens within the Avalanche ecosystem were seeing positive price trends at press time, but there was a stark contrast in the number of holders experiencing gains.
AVAX is more profitable than GMX
Depending on the IntoTheBlock According to data, at press time, over 66% of AVAX token holders were earning within the Avalanche ecosystem.
AMBCrypto also discovered that AVAX’s circulating supply was over 365 million at press time, with a total supply of over 433 million, according to CoinMarketCap.
66% $AVAX Holders receive the highest returns among the top tokens in the Avalanche ecosystem. $GMX and trillion Additionally, many of the holders are still in the red, but are showing good profit margins. pic.twitter.com/1kflaii0sZ
— IntoTheBlock (@intotheblock) December 2, 2023
In the case of GMX, it ranked second with the largest number of profit holders at approximately 42% at the time of reporting.
At the time of writing, the circulating supply of GMX was approximately 9.2 million, with a total supply of approximately 9.7 million. General price trends have influenced the observed profitability of these tokens.
Avalanche and GMX show various upward trends.
AMBCrypto found that IntoTheBlock’s statistics were consistent with the results expected when analyzing price trends on daily time frames. A survey of AVAX showed a steady increase since mid-October.
The chart shows it rising from around $9 to $22, the range at press time. This price range tool has seen an incredible surge of over 100% from October 13th to the time of writing.
Source: TradingView
At the time of writing this report, AVAX was trading at around $22.1, down slightly by less than 1%. Notably, AVAX maintained an upward trajectory over the past five days before its current downward trend.
GMX has also seen a positive trend in recent weeks. However, the upward movement has been less pronounced compared to AVAX. At the time of this writing, GMX was trading with a loss of over 1% and was priced at around $51.7.
Source: TradingView
The Avalanche sees growth with some GMX contributions.
Recently, the Avalanche’s Total Value Locked (TVL) has experienced a slight upward trend. This upward trend is due to the rise in value of AVAX and the contributions of various chains within the network.
A survey of these chains revealed a notable increase in TVL over the past few weeks.
Read Avalanche (AVAX) Price Prediction for 2023-24
Benqi has emerged as the leading chain, with an impressive increase of over 65% in the past month. Similarly, Trader Joe’s also saw a significant increase of close to 40%.
According to the latest data, GMX took the fourth largest contributor position despite TVL growing at less than 1% last month.