Findings:

Overall, The Merge Event does not seem to have any significant impact on Number New Traders Growth on GMX, or Number of Trades made. The growth of Traders and Trade Transaction are independent of the Merge Event.

Findings :

BTC price is used as the Market Sentiment as all crypto assets correlates to BTC Price.

From the Liquidation Fee generated against Market Sentiment, it is found that a larger sum of Liquidation fee is earned on the day where BTC price dipped. This suggests majority of trade position is in Long Position. WETH and USDC are the top assets paid to Liquidation Fees.