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Bitcoin plummet Bu Altcoine Yaradı, Rollback ile Fiyat Dipten Yüzde 26 Zıpladı! - Koin Bülteni
The buybacks made with the income obtained from the liquidation of the old Bitcoin position on the GMX exchange increased the altcoin price by 26%.
GMX (GMX) continues to attract attention as a decentralized cryptocurrency exchange. According to recent developments, over 13 million dollars in revenue was generated from the liquidation of the old Bitcoin (BTC) position in GMX v1. This revenue will be used for buybacks according to the exchange's current protocol.
According to the current protocol rules, 27% of the generated revenue will be allocated for buybacks.
This development had a direct impact on altcoin prices. Particularly, the buyback move in the GMX protocol raised the price from the low levels by 26% from 9.59 dollars to 12.1 dollars. This rise once again demonstrated how liquidation and buybacks can affect the altcoin market.
GMX's move not only caused a price increase but also demonstrated how effective liquidity and trading volume could be in decentralized finance (DeFi) exchanges. Such large transactions and buybacks can create new opportunities for altcoin investors.