GMX Launches New Swaps for TON and TRX

The platform introduces synthetic markets that allow you to multiply your profits up to 50x in an optimized environment for traders.

GMX officially launched perpetual swap markets for TON (Toncoin) and TRX (TRON). It now offers users the possibility to trade with dynamic liquidity backed by WETH-USDC pools. Capped at 50x on Arbitrum, this innovation promises to transform the cryptocurrency trading experience.

Currently, GMX is finding support at the $19.74 price zone and registering a bounce, trading at $24.69. / TradingView

Introduction to the new markets

On November 7, GMX took a bold step into the world of cryptocurrencies by introducing new synthetic markets for TON and TRX tokens. These markets, which allow perpetual swaps, are designed to offer a more efficient and dynamic trading experience, backed by WETH-USDC pools.

How Perpetual Swaps Work

The new TON/USD and TRX/USD perpetual swaps allow users to trade these assets with up to 50x leverage. The platform ensures secure self-custody, deep liquidity, and fast trade execution through its interface at app.gmx.io. It is important to note that spot trading of these assets is not available as the markets are synthetic.

The GMX platform uses GLV (GMX Liquidity Vaults) to dynamically allocate liquidity to pools, ensuring that markets remain healthy and efficient. This mechanism allows GLV to support multiple synthetic markets at the same time, optimizing liquidity towards the highest-performing pools.

GMX Performance and Analysis

Despite the GMX price being on a downtrend since March, a possible change in this trend is on the horizon. Currently, GMX is finding support at the $19.74 price zone and registering a bounce, trading at $24.69. Analysis suggests that GMX is testing a resistance zone marked by the EMA100, which could indicate an accumulation phase. Over the past month, the platform has seen a 13.67% increase in value.

The launch of perpetual swap markets for TON and TRX on GMX represents a significant opportunity for traders looking to maximize their profits in a high-liquidity environment. With dynamic resource allocation and a robust liquidity management system, GMX is positioned as a leader in the cryptocurrency space.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Cryptocurrencies are high-risk investments.