/biz/ - Business & Finance

>>58369006
I'm curious about this token, it looks like they make tons of money from fees do they not? they're one of arbitrum's biggest protocols

>>58369006
nigger hayes sold all his gmx. It is going down anon.

>>58369006
>blue token
With blues you lose.

I started farming then buying this token in early 2022. It performed spectacularly (on a relative basis) during the bear market. Became one of my biggest bags, and eventually made up 30% of my portfolio.

A few weeks ago I made the hard decision to sell 2/3 of it, and last week after Hayes moved his shit out I dumped the final 1/3. This was my highest conviction play for the past two years and it was a complete dud. I made exponentially more money buying DOGE and AI tickers in February, in exponentially less time, than I did with GMX. I'm not even sure I turned a profit on GMX. It was a complete and utter dud.

Moral of the story? "Fundamentals" are worthless; narrative and collective retardation is what pays best.

>>58369483
hard to call it a dud when it outperformed so hugely in the bear. I agree that it seemed to slam into a brick wall though. the best play would have been to exit after the hard pump. I'm curious about its future as more money enters the system. there are other perps platforms but gmx seems pretty well established on arbitrum. their revenue annualized is 50m which is pretty good for their mcap. don't eth dividends go to gmx stakers?
my main concern with perps is that people are generally afraid to short but love to go degen long. this is especially true during gigabulls because frequently they win. I'm not sure how GLP (and by extension GMX) will fare if the house consistently loses and does not offset costs with fees

>>58369567
>the best play would have been to exit after the hard pump
for a measley 2-3x? You're right but honestly any alt that can't 10x minimum is a waste of time. BTC is likely to 10x off the lows. I held GMX for a 30-50x, watched it bleed against BTC ~80%, and threw in the towel. It's a dud through and through.

Can it come back? Sure. But there are opportunities that are paying out *today* while GMX consistently bleeds against BTC. And all the fundamental reasons for it to come back i.e. TVL, revenues and fees are stagnant to down for the past 6 months. Any gain in TVL is simply due to BTC, ETH etc. going up in price.

>>58369417
I cant just sell at a loss. On a scale from 1-10 how fucked am i.

>>58370306
Very, I invest in a competitor (GNS) and the vaults will probably take a big hit once we start crashing again since everyone and their mother will be betting down. I plan to sell my stack soon.

>Buying GMX in the year of our lord 2024
Base exists you know? What the fuck were you doing last year when this shit was giving away 1k and money was flowing out of every single one of its orifices?

Get into Base or research ordinals and get into Satoshisync. Simple as. BTC and Base shitcoins are the future, deal with it.

>>58370789
why is Base suddenly so appelealing to bizniggers? yall hated it till like 5 months ago kek

>>58370789
I wonder why people just try to dip into the dankest coins there are when they have perfectly good coins, with good projections utility and value...

>>58370844
they probably thing that the more obscure the coin the better the profits if it moons.

that's totally not how it works, but there you have it, nigger mentality

>>58370831
basically
>WAKE UP BABE NEWEST RUG SELLER IS UP TIME TO BUY INDIAN FROG AND CHINESE BLUE ELEPHANT!!!

>>58370831
its a shit dex, but is the less shitty dex of the shit dexs on solana.

Its a big shit still.

>>58370844
remember when $BELLE was a thing?
good ole times.

>>58370873
will never get old

>>58370873
I would have bought that shit, makes my thingy go thingy

>>58369006
its gonna do a chainlink on you.
Just hodl like a faggot

>>58370858
that's biz fault for inducting shitty meme logic on business and money making.

>>58370925
>meme logic
based

>>58369630
>2x3x

If you put in 300k then that 3x doesn't sound that bad.

>>58370948
I could say the same for BTC and you'd be up 5x instead with the prospect of infinite gains ahead
>inb4 dude just 3x on GMX then rotate into BTC at the march USDC fud lows lol

>>58369006
what a crappy decision, you could have spent all that money doing copytrade with tradingview or daytrade with truflation.

boylovertoken

>>58369006
no you should sell for its superior competitor, GNS

>>58370355
imagine believing this

>>58375925
GNS is a dead shitcoin now. Shame though, it had a fuckton of potential back at the tail end of '21. It was truly THE /biz/ coin.