A quick note on an on-chain data point: At midday on October 15, $GMX GMX had protocol revenue of $283,000 over the past 24 hours, about twice the usual amount.
My take: Protocol revenue is the portion the protocol keeps after paying liquidity providers their share. An increase means business was definitely good that day. I’ll check back in a week to see whether this becomes the new normal. Follow along—I’ll share any notable changes as they happen.
#GMX
Just sharing my personal view; this is not a specific buy or sell recommendation.
My take: Protocol revenue is the portion the protocol keeps after paying liquidity providers their share. An increase means business was definitely good that day. I’ll check back in a week to see whether this becomes the new normal. Follow along—I’ll share any notable changes as they happen.
#GMX
Just sharing my personal view; this is not a specific buy or sell recommendation.