GMX Price Analysis: GMX-Solana Integrates Chainlink Data Streams as DEX Expands Its Horizons

GMX is a decentralised exchange (DEX) platform for perpetual and spot crypto trading. It supports Bitcoin, Ethereum and other assets with up to 100X leverage.

GMX, a decentralised exchange (DEX) platform for perpetual and spot crypto trading, has announced another integration with a leading Web3 service.

After announcing the listing of ApeCoin (APE) perpetual swaps and spot trading on Monday, GMX has revealed the integration of Chainlink Data Streams for GMX-Solana.

GMX-Solana is a community-driven project that aims to bring the GMX V2 platform to users within the Solana (SOL) ecosystem.

GMX-Solana Integration Chainlink Data Streams

According to an announcement on Thursday, GMX-Solana will adopt Chainlink Data Streams as its data oracle solution for the GMX-Solana Perp DEX.

The integration will provide the DEX with on-demand access to high-frequency market data that is backed by battle-tested, decentralised oracle infrastructure.

Chainlink Data Streams is a fully managed oracle network that provides Web3 applications with access to various types of data feeds, including granular market prices from top centralised exchanges (CEXs) and decentralised exchanges (DEXs).

The oracle solution is designed to deliver data with a high level ofверенность and freshness, which is critical for accurate and timely execution prices, liquidations, and funding rate calculations for the GMX-Solana Perp DEX.

“This integration will enable GMX-Solana to offer traders with a performant and secure oracle solution for perpetual DEX trading on Solana,” the announcement noted.

GMX-Solana Perp DEX

As an extension of the GMX protocol, GMX-Solana combines efficiency and transparency in perpetual trading.

The DEX will support hundreds of assets, decentralised liquidity provision through GLV, an innovative Trade-to-Mint economic model, and unmatched execution speed.

This integration will enable highly performant self-custody trading without intermediaries.

GMX/USD Price

The native token of the GMX DEX, GMX, fell last week after Binance announced the delisting of the GMX/BTC trading pair.

The drop to near $20 had buyers staring at a potential rot to lows seen in April when the token hit $17.90 before recovering to hover above $35 in August.

However, the token’s price flipped positive in the weekly time frame after closing last week at $21.00, up from lows of $17.90 on Monday morning.

GMX/USDT up 14% in the past 24 hours puts it among the top gainers in the largest cryptocurrencies by market cap at $235 million.

Sentiment is positive as bulls hover above $24, suggesting a potential upside continuation if primary support holds.

On the downside, $23.29 and $21.00 could be key zones.

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