With the innovative launch of perpetual contracts for gold and silver, GMX has directly entered the traditional precious metals derivatives track, significantly expanding its platform income structure and raising its market competitive barriers. On the technical side, GMX rebounded from $6.15 and effectively broke through the $6.40 resistance, rising with increased volume—demonstrating a price-volume synergy driven by incremental capital. If GMX can maintain its position within the $6.40–$6.50 range, there is potential to test the $7 round-number threshold. On the macro level, the global rise in risk appetite and increased demand for real-world asset derivatives will drive GMX's long-term holding value. It is recommended to monitor the pace of new product expansion and fee growth, to accumulate on dips, and to prioritize staged opportunities as institutional trading demand rises.

Recently, GMX launched 24/7 perpetual contracts for gold and silver on the Arbitrum mainnet, with first-day trading volume surpassing $10 million. Contract pricing relies on WETH-USDC liquidity and Chainlink oracle for price accuracy. This innovative move marks GMX’s formal entry into the traditional precious metals derivatives market, bringing new fee revenue sources to the platform and further enriching users' diversified investment options, thereby enhancing GMX’s competitiveness in the DeFi space.

Analysts highlight key altcoin developments this week, including the Solana Summit starting April 13 with potential major announcements, and Ethereum’s upcoming “Glamsterdam” devnet deployment. Hyperliquid plans a new “priority fee” revenue model, while MegaETH and Aave collaborate on an incentive program. Theo Network will launch a gold-backed stablecoin, Polymarket will revamp its trading with a new stablecoin, and GMX will introduce 24/7 trading for real-world assets. Macroeconomic talks on the Strait of Hormuz also impact markets.

These Are the Things to Watch in Altcoins This Week

Decentralized exchange GMX has launched 24/7 gold (XAU/USD) and silver (XAG/USD) perpetual markets on Arbitrum, achieving over $10 million in trading volume on day one. These synthetic perpetuals use WETH-USDC liquidity and Chainlink oracles for pricing. The launch marks GMX's entry into real-world asset derivatives, with plans to add more commodities. This move aligns with growing DeFi efforts to offer onchain exposure to traditional assets amid rising demand for safe-haven metals.

GMX Rolls Out 24/7 Gold and Silver Trading

From a daily chart perspective, GMX rebounded from the $6.15 level in mid-April, and after consecutive rallies, closed at $6.503 on April 17, effectively breaking above its previous high of $6.399. Trading volume surged to nearly 68,000 contracts, significantly higher than the typical level of around 15,000, reflecting heightened short-term bullish sentiment driven by news. The price touched a high of $6.97 that day; despite a notable pullback, the overall bullish structure remained intact. Additionally, Bitcoin’s breakthrough above $74,000 triggered enthusiastic moves in the derivatives market, providing lasting upward momentum for mainstream derivatives platforms like GMX.

Bitcoin has surpassed a four-week high, rising above $74,000. Analysts identify $75,000 as a critical "volatility release point," where derivative market negative gamma effects may amplify price fluctuations. This level coincides with Bitcoin's 100-day moving average, a key resistance in January. Breaking $75,000 could accelerate an uptrend, while a pullback may increase downward pressure. The $80,000–$80,600 range is a positive gamma zone with lower volatility, and the 200-day moving average at $87,519 serves as a long-term reference.

Analysis: Bitcoin breaks four-week high, key price range may intensify market volatility

Global stock markets reached new highs amid expectations of easing geopolitical risks, with the S&P 500 recording its first major high since WWII, signaling broad risk appetite release. Against this backdrop, investors’ acceptance of alternative assets is rising. By introducing real-world asset derivatives, GMX is perfectly aligned with market demand for diversified risk management tools. Looking ahead, as more perpetual commodity products are launched and user scale expands, platform fee revenues are expected to steadily increase, further strengthening its long-term value proposition.

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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GMX price today is 6.55, with a live price change of 3.16 in the last 24 hours. Convert, buy, sell and trade GMX on Bybit-eu.

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