- AVAX and GMX have over 60% and over 40% of the profit holders respectively.
- AVAX has increased in value by more than 100% in the past two months.
The AVAX and GMX tokens within the Avalanche ecosystem were showing positive price trends at the time of writing, but there was a notable contrast in the number of holders making profits.
More AVAX profit than GMX
From IntoTheBlocks According to data, over 66% of AVAX token holders within the Avalanche ecosystem were benefiting at the time of writing.
Additionally, AMBCrypto found that AVAX’s circulating supply at the time of writing was over 365 million, with a total supply of over 433 million, according to CoinMarketCap.
66% of $AVAX holders make profits, the highest top tokens in the Avalanche ecosystem. $GMX And $Joe also show good profit ratios, although a larger share of their holders are still in the red. pic.twitter.com/1kflaii0sZ
— IntoTheBlock (@intotheblock) December 2, 2023
In the case of GMX, it ranked second in terms of the highest number of profit holders, with around 42% at the time of writing.
GMX had a circulating supply of approximately 9.2 million at the time of writing, with a total supply of approximately 9.7 million. The prevailing price trends influenced the perceived profitability of these tokens.
Avalanche and GMX show varying upward trends
AMBCrypto found that IntoTheBlock’s statistics matched the expected results when analyzing daily price trends. Research by AVAX showed that there had been a steady increase since mid-October.
The chart showed an increase from around $9 to the press time range of $22. This price range tool indicated a remarkable increase of over 100% between October 13 and the time of writing.
Source: TradingView
At the time of this report, AVAX was trading around $22.1, down less than 1%. Notably, AVAX was on an upward trajectory for the previous five days before the current decline.
Moreover, GMX has also shown positive trends in recent weeks. However, the upward movement was less pronounced than that of AVAX. At the time of writing, GMX was trading at a loss of over 1% and priced at around $51.7.
Source: TradingView
Avalanche sees growth with a small GMX contribution
Lately, Total Value Locked (TVL) in Avalanche has been on a modest upward trend. The upward trend is attributed to the rising value of AVAX and the contributions of various chains within the network.
A survey of these chains revealed notable growth in their TVLs in recent weeks.
Read Avalanche of [AVAX] Price prediction 2023-24
Benqi emerged as the leading chain, posting an impressive increase of over 65% over the past month. Likewise, Trader Joe experienced a significant increase, approaching a 40% increase.
According to the latest data, GMX holds the fourth position as the largest contributor, albeit with TVL growth of less than 1% in the past month.
