Trading Infrastructure · Trading Infrastructure

GMX all-time high and real returns GMX

A decentralised spot and perpetuals platform on Arbitrum and Avalanche that shares protocol revenue with stakers.

Latest price
$8.582 +7.95% in 24 hours
Updated · CoinGecko

GMX all-time highs and real returns

In dollars and pounds, before and after inflation, since Oct 2022.

Show returns in

−82.7%GMX after US inflation since Oct 2022−35.5% a year

Down 80.6% in dollars since Oct 2022. After US inflation, down 82.7%. Against money printing, down 82.1%.

In pounds, down 83.1%, or down 85.1% after UK inflation.

$ nominal
−80.6%−33.6% a year
£ nominal
−83.1%−35.9% a year
Real $ (US CPI)
−82.7%−35.5% a year
Real £ (UK CPI)
−85.1%−37.9% a year
vs US M2
−82.1%−35.0% a year
Measured from
Oct 2022to Oct 2026, 4 years
  • GMX, Real $ (US CPI)$8.300
  • $ nominal$8.300
  • Oct 2026, latest
Highest month-end close in today's dollars (US CPI): $84.45 in Mar 2023. The latest close is 90.2% below it. The dashed line is the same asset in dollars before adjustment.
GMX returns in every lens, to Oct 2026 (latest close). Each cell is the total change, with the yearly rate under it for windows of a year or more.
Period $ nominal£ nominalReal $ (US CPI)Real £ (UK CPI)vs US M2
Past year from Oct 2025 −14.2% −14.8% –a (see note a) −17.0% −18.2%
Since Oct 2022 first month in our data −80.6% −33.6% a year −83.1% −35.9% a year −82.7% −35.5% a year −85.1% −37.9% a year −82.1% −35.0% a year
  • a US CPI was not published for Oct 2025.

On month-end closes, GMX's highest price was $76.09 in Mar 2023, which is $84.45 in Oct 2026 dollars after US inflation. The latest close of $8.300 is 90.2% below the real high. The intraday record, $91.07 on 18 April 2023, is higher than any month-end close.

Cycle peaks, falls and recoveries

Month-end highs followed by a fall of 50% or more, and the high that stands today, in Oct 2026 money.

GMX cycle peaks in dollars and pounds, then and in today's money, with the fall that followed and the time to recover in nominal and real terms
Peak $ then Today's $ (US CPI) £ then Today's £ (UK CPI) vs M2 today Fall after Back above, $ Back above, real $
Mar 2023 All-time high $76.09 $84.45 £61.52 £68.53 $84.81 −93.0% low Jun 2026 Not yet Not yet

Return since our first month and since each cycle low

From the month-end close in the first column to Oct 2026.

GMX returns from launch and from each cycle low, in dollars, after US and UK inflation, and against M2
From $ then $ nominal Real $ (US CPI) Real £ (UK CPI) vs US M2
Oct 2022 First month in our data $42.70 −80.6% −33.6% a year −82.7% −35.5% a year −85.1% −37.9% a year −82.1% −35.0% a year
Jun 2026 Lowest since the high $5.300 +56.6% +56.1% +55.7% +55.1%

Every month GMX closed at a new high

5 month-end closes above every earlier one
Every month-end close of GMX that was above all earlier closes, in dollars then and in today's dollars
Month Close, $ Today's $ (US CPI)
Mar 2023 $76.09 $84.45
Feb 2023 $71.69 $79.83
Jan 2023 $59.54 $66.67
Nov 2022 $49.37 $55.55
Oct 2022 $42.70 $48.00

How these figures are worked out

Sources, inflation measures and what is left out
  • Month-end closes from Binance, Oct 2022 to Oct 2026. Oct 2026 is still in progress, so its figure is the latest close rather than a month-end. Our history for GMX starts in Oct 2022, so longer windows are left out.
  • Real figures divide by US CPI (BLS, via FRED) or UK CPI (ONS, joined to the ONS long-run RPI before Jan 1988) and are stated in Oct 2026 money. The M2 lens divides by the US M2 money supply (Federal Reserve, via FRED). Pounds convert at each month's GBP/USD rate.
  • US CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
  • UK CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
  • US M2 is published with a lag: Oct 2026 uses the Aug 2026 figure.
  • A return of 12 months or more also shows its yearly rate. Gaps in a source are left as gaps and never filled in.

Key numbers

  • Market cap $89.9m Rank 306
  • 24-hour volume $5.7m
  • 7 days -1.8%
  • 30 days +11.5%
  • Circulating supply 10.5m Of a maximum 13.3m
  • Risk level Medium
  • Listed on 1 of 5 Binance
Crypto Bargains

Cycle position

Updated · CoinGecko
47/100
Mild discount, strength 3 of 5

Price 91% below ATH · greed high

GMX is 91% below its all-time high while the market is greedy. The Bargain Score puts it interesting, but not yet at deep-discount levels.

Why this zone

  • Bargain Score59/100
  • Fear & Greed62
  • RSI (14-day)61.0 Strengthening
  • ATH Drawdown91%
  • Resilience (ORS)Weak
  • Risk LevelMedium

Bargain Score 59/100

How cheap?HVD30%92
Market fearSES20%29
PositioningPIS20%50
Structural healthORS15%25
Supply safetyTQS15%79
  • Deep Drawdown

Between ATL and ATH

ATL $4.81−90.6% from ATH · +78.4% above ATLATH $91.07
ATH
$91.07 · 18 Apr 2023
ATL
$4.81 · 1 Jul 2026
Risk level
Medium
ATH chance
47% · Medium

Past drawdowns and recoveries

Model timeline (from past cycles): 6–12 months

Past drawdowns and recoveries for GMX
PeakLowFallRecovered in
13 Mar 202425 Jun 2026−91.3%Not yet

Compare all 54 coins in the screener How the scores work

Why it sits in this zone

The model places GMX in the Mild discount zone on a Bargain Score of 59, a partial set of buy-side conditions led by Price 91% below ATH and greed high. At 91% below the $91.07 it reached in April 2023, GMX would need roughly a 11-fold rise to get back to its high, and it has been below that level for three years and six months.

What drives the score

Once the weights are applied, price distress (0.92 out of 1) adds the most to its score and project resilience (0.25) the least. The model classes it as unproven, because it has not yet been through a full cycle at its current size, and rates its chance of a new high as Medium. As a trading infrastructure token, its fortunes have been tied closely to on-chain trading volume, which rises and falls with volatility.

Where the cycle targets come from

A smaller repeat of GMX's past range would not get it back to its old high, so the model anchors the cycle targets to that high instead, at $95.62, $104.73 and $118.39, and even the low scenario would need a 1,014% move from today's price.

FAQ

GMX: questions people ask

What was GMX's all-time high in today's money?

GMX's highest recorded price was $91.07 on 18 April 2023, from CoinGecko's record of intraday trades. Restated with US CPI to Oct 2026, that is $100.56 in today's dollars. In pounds it was £72.38 at the time, or £79.71 after UK inflation.

On month-end closes, which is what our tables use, the peak was $76.09 in Mar 2023, worth $84.45 today. The latest price is 90.2% below the real high.

Has GMX beaten inflation since Oct 2022?

Our monthly history for GMX starts in October 2022. Since then it is down 80.6% in dollars and down 82.7% after US inflation, so it has not kept up with inflation over that stretch. Measured in pounds after UK CPI the figure is down 85.1%. Against the US M2 money supply it is down 82.1%.

How long did GMX take to recover from past crashes?

After the Mar 2023 peak of $76.09 it fell 93.0% by Jun 2026, and has not closed above that high since. In real terms it has not recovered.

These use month-end closes, so intraday highs and lows were more extreme.

How far is GMX below its all-time high?

GMX is 90.6% below its all-time high of $91.07, which it set on 18 April 2023, and its all-time low is $4.81, from July 2026. Getting back to the high from today's price of $8.58 would take a rise of about 961%. These figures come from CoinGecko and refresh every five minutes.

What is GMX's Bargain Score?

The Bargain Score is 59 out of 100 (Watch). It combines the discount from the previous high, market sentiment, momentum and the coin's track record across past cycles. On our zone scale that places GMX in the Mild discount zone: Price 91% below ATH · greed high. This describes current conditions; it is not a recommendation.

What do the GMX cycle scenarios assume?

Low cycle target $95.62 (Previous ATH + 5% (the model’s cycle multiple lands below the previous high).). Base cycle target $104.73 (Previous ATH + 15%: a return to the previous high (the model’s cycle multiple lands below it).). High cycle target $118.39 (Previous ATH + 30% (the model’s cycle multiple lands below the previous high).). Each is the price the coin would reach if a smaller version of its past cycle repeated, not a loss case. They come from a model of past cycles and can be badly wrong.

How fearful is the crypto market right now?

The Crypto Fear & Greed Index reads 62 (Greed). Low readings mean fear, high readings mean greed. The Bargain Score uses it as one input, because past cycle lows tended to arrive during extreme fear.

What zone is GMX in today?

GMX is in the Mild discount zone with a Bargain Score of 59. Two or more of the looser buy-side conditions are met (Price 91% below ATH and greed high), which puts it on the discount side of the scale without the full set of signals behind it. Rather than a recommendation, the label is a reading of where GMX's price and the wider market sit against the model's rules at this moment, and because the Fear & Greed value and the daily RSI both update at midnight UTC, just after midnight is when it is most likely to change. The 3-dot meter beside it shows where that zone sits on the five-step scale, from one dot for Expensive to five for Deep discount.

How long have GMX's past recoveries taken?

GMX has had one earlier fall of 50% or more in our price history: after its $61.06 peak in March 2024 it fell 91% and has not closed above that level since. Those are the only data points we have for this coin, which is too few to say anything reliable about the next recovery, since market conditions, supply and competition are different each cycle and some coins never regain a previous high.

What are the cycle targets for GMX?

The model starts from GMX's full range, its all-time high of $91.07 divided by its all-time low of $4.81, which is roughly 18.9-fold. It shrinks that multiple with a decay factor, on the assumption that each cycle is smaller than the last, and applies it from the low. For GMX that reduced repeat would not reach the old high, so the targets are anchored just above it instead, at $95.62, $104.73 and $118.39, which puts the low scenario 1,014% above today's price. They describe what a reduced repeat of the past would look like and say nothing about whether that will happen. Cryptoassets are high risk, and you should be prepared to lose all the money you put into them.

Why does GMX have a Bargain Score of 59 but sit in the Mild discount zone?

Because the score and the zone measure different things. The score blends price distress, sentiment, positioning, resilience and supply into one number, while the zone checks whether specific conditions line up, such as Fear & Greed crossing a threshold or the RSI reaching oversold or overbought levels. With Fear & Greed at 62 (Greed) and GMX's RSI at 61, not enough of the buy-side conditions are met to move GMX further up the scale.

Important information

Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Cryptoassets are largely unregulated in the UK, so you are unlikely to have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if something goes wrong. Educational information only, not financial advice. Read our disclaimer.

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