Market Volatility Hits GMX: Sharp 5.62% Drop in Seconds

I am observing a significant decline in the GMX/USDT trading pair, with a drop of 5.62% within a very short span of just 12 seconds. The current price has fallen from ₮20.607 to ₮19.449, highlighting a quick and sharp decline. The 3-minute trading volume stands at 6.15 million, while the 24-hour volume is substantially higher at 167 million, suggesting heavy trading activity and potentially increased market volatility. This rapid decrease could be driven by sudden market sentiment shifts, large sell orders, or broader trend fluctuations in the cryptocurrency ecosystem. GMX, being a popular decentralized exchange token, could be experiencing a temporary correction or reaction to external factors such as market news or macroeconomic developments. Investors should exercise caution during such high-volatility periods and consider broader market signals before making trading decisions. In the current scenario, the swift drop and significant trading volume indicate heightened market activity and possibly a volatile trading environment. It is essential to monitor for further signals or technical support levels that could stabilize or reverse this downward trend. Being aware of such price swings is crucial for both short-term traders and long-term holders to manage risk effectively.