• GMX’s daily active users (DAUs) declined slightly, but the DAUs of ARB increased. 
• On-chain performance suggested lowered investor interest, and indicators looked bearish.

Lookonchain’s data revealed a transaction on 25 March, which seemed concerning for GMX. As per the tweet, a whale exchanged all of its GMX for Arbitrum [ARB]. The whale had earlier bought more than 12,000 GMX with 300 Ethereum [ETH] and then exchanged those for 6,65,947 ARB. 

We noticed a whale exchanged all $GMX positions for $ARB.

The whale bought 12,445 $GMX(($927K currently) with 300 $ETH($498K) at a price of $40.

Then bought 665,947 $ARB with the 12,445 $GMX, and the buying price is $1.39.https://t.co/QsNQVOMfeB

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Author: Dipayan Mitra

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