The decentralized derivatives exchange, GMX, saw the price of its native token plummet by 20% in the past 24 hours.
Even though the entire market is currently declining, there seems to be a more particular reason for the decrease in the GMX price.
We were notified of price manipulation of AVAX/USD on reference exchanges by monitoring systems and community members.
While we revie the ocurrence, open-interest for AVAX has been capped at $2m long / $1m short.
GLP and GMX trading markets continue to operate normally.