ACH vs GMX
Alchemy Pay and GMX scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
ACH scores 97 of 250 and ranks 155th of 251. GMX scores 143 and ranks 28th. GMX leads by 46 points, which is a wide enough margin that the framework is not ambivalent. ACH takes 1 of the 25 variables, GMX takes 22, and 2 are level.
The framework rates ACH PASS and GMX HOLD. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
5 variables separate them by 3 points or more. GMX is clear on Buyback and Burn (7 against 3), Catalyst Calendar (8 against 4) and P/S Multiple (7 against 4).
Both score 3 or below on Real Staking Yield, Market Share, BTC Alpha Potential. A weakness both sides share is not a reason to prefer either. It is a reason to check whether the category itself carries the problem.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 3 | 5 | GMX +2 | |
| Revenue Trend | 4 | 5 | GMX +1 | |
| P/S Multiple | 4 | 7 | GMX +3 | |
| Real Staking Yield | 2 | 1 | ACH +1 |
Supply
| Supply Inflation | 5 | 8 | GMX +3 | |
| Vesting Schedule | 5 | 7 | GMX +2 | |
| Circulating / FDV Ratio | 5 | 8 | GMX +3 | |
| Buyback and Burn | 3 | 7 | GMX +4 |
Ownership
| Smart Money Flows | 3 | 5 | GMX +2 | |
| Insider Selling | 5 | 8 | GMX +3 | |
| Holder Concentration | 4 | 5 | GMX +1 |
Traction
| TVL Trend | 3 | 4 | GMX +1 | |
| Active Users | 4 | 5 | GMX +1 | |
| Developer Activity | 4 | 6 | GMX +2 | |
| Network Growth | 4 | 6 | GMX +2 |
Position
| Market Share | 3 | 3 | level | |
| Competitive Moat | 3 | 5 | GMX +2 | |
| Institutional Adoption | 4 | 5 | GMX +1 | |
| Exchange Depth | 5 | 7 | GMX +2 | |
| Social Mindshare | 3 | 4 | GMX +1 |
Risk
| Regulatory Safety | 5 | 7 | GMX +2 | |
| Catalyst Calendar | 4 | 8 | GMX +4 | |
| BTC Alpha Potential | 3 | 3 | level | |
| Team Execution | 4 | 7 | GMX +3 | |
| Treasury Runway | 5 | 7 | GMX +2 |
Bars read outward from the centre: ACH to the left, GMX to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| ACH | GMX | |
|---|---|---|
| Price | $0.005612 | $8.05 |
| Market cap | not published | $84.3M |
| Circulating | n/a | 79% |
| Dilution to full supply | n/a | 1.27x |
| Off all-time high | -97.2% | -91.2% |
| To recover the high | 35.7x | 11.4x |
| Total value locked | not published | $784.0M |
| Network | Ethereum | Arbitrum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
ACH · PASS
Fiat-crypto on-ramp partnerships with Shopify and Visa; expanding merchant payment solutions.
Regulatory risk in cross-border payments; reliance on volatile crypto-fiat conversion volumes.
GMX · HOLD
24/7 commodity perps (gold/silver/oil) live April 2026, $1.18B first-week volume, RWA expansion
Sub-3% perp DEX share vs HYPE 70%, $90 reward open at $6.80 price, revenue was 3x overstated
Common questions
- Is ACH or GMX the better investment?
- On this framework GMX scores higher: 143 against 97 of 250, and it is rated HOLD against PASS. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and ACH still wins 1 of the 25 individual variables against GMX.
- What is the biggest difference between ACH and GMX?
- Buyback and Burn. ACH scores 3 of 10 there and GMX scores 7, a gap of 4 points on a single variable.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.