BitMex Founder Arthur Hayes Owns The Most GMX Crypto, Check The Numbers Here!

JAKARTA – Arthur Hayes, co-founder and CEO of crypto exchange BitMex, is currently recognized as the largest individual holder of GMX tokens, with a total holding of 200,580 GMX. Based on current prices, the profit is almost 9 million US dollars (equivalent to IDR 136.5 billion).

On-chain data shows that 200,580 GMX tokens are owned by Arthur Hayes, making him the largest utility and governance token holder of the GMX project. Hayes purchased GMX tokens between March 3 and September 7, 2022, with a total of 3,386 Ethereum (ETH) spent at an average purchase price of 28.5 (around IDR 430 thousand) per token.

As previously noted, Hayes is very bullish on altcoins like GMX and has bought many of them. This was evident when GMX was only down about 23 percent during a bear market for Bitcoin and some altcoins fell sharply, according to CryptoSlate.

GMX is the utility and governance token of a decentralized GMX spot and perpetual exchange. GMX becomes a DEX (Decentralized Exchange) with multi-asset supported trading, generating liquidity provider fees from market makers, swaps, and leverage trading.

GMX tokens launched in September 2021 on the Arbitrum One blockchain, an Ethereum scaling solution that uses Optimism (OP) rollup to speed up transactions and cut fees. Apart from that, GMX token holders can also stake on Arbitrum or on the Avalanche DEX to get token rewards.