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$GMX — $7.72
Holding above the $7.50 support after reclaiming its descending trendline. Recent price action: +5.55% on Sept 20, +6.22% on Sept 16, +9% on Sept 5.
The catalyst: GMX released a governance proposal on Sept 16 to allocate $10M from the treasury to establish a token market-making fund, with a GT buyback. The fund uses(omnichain combined open interest) as its reference metric an active buyback mechanism to ease sell pressure.
Levels:
• Support: 6.00–8.00, then $11.20
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