HMX
1. Fundamental Analysis
1.1 Introduce
HMX is a decentralized perpetual protocol with a cross-margin and multi-asset collateral support, currently operating on Arbitrum. HMX offers the following unique features to users:1. Leveraged Trading: Users can open up to 1,000x leveraged long or short positions on many asset classes including Crypto, Forex, and Commodities. HMX also accepts various crypto assets as collateral with cross-margin collateral support, allowing for flexible position and risk management strategies, while offering low fees, on par with centralized exchanges.2. Leveraged Market Making (HLP Vault): Users can simply deposit assets into the HLP vault to become market makers on HMX. HLP vault is unique because it is built on top of GMX s GM token. This means that the liquidity deposited into the vault will be used to market make for traders both at GMX AND HMX. Depositors continue to earn 100% of the yields from GMX while also earning additional yields from fees generated on HMX.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | HMX | Market Cap | 6743118.0692734 |
| Name | HMX | White Paper | -- |
| Web Site | https://hmx.org/arbitrum | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | https://arbiscan.io/ | Algorithm | -- |
| Forum | -- | Proof | -- |
| Mining | Total | 10000000 | |
| Supply | 10000000 | Release Date | 2023-08-03 |
| Available Supply | 3353116.8917321954 |
2. Technical Analysis
2.1 Kline Chart
2.2 Analysis
The conclusion from the analysis of the K-line daily chart is as follows:
- The price has been fluctuating significantly, indicating high volatility.
- There is a strong bearish trend in the short term, as the closing prices have been consistently below the opening prices.
- The volume has been increasing, suggesting strong participation in trading.
- The price has been forming lower highs and lower lows, which is a bearish pattern.
- There is a possibility of a reversal in the short term if the price can close above the previous high.
- The overall trend remains bearish, but the possibility of a short-term reversal cannot be ignored.
