OKX Lists GPS/USDT Perpetual Contract Amidst Market Volatility

OKX, a leading cryptocurrency exchange, has announced the listing of the GPS/USDT perpetual contract. The contract, which is set to launch on March 4, 2025, at 8:00 PM (UTC+8), will be available on the web, app, and API.

The GPS/USDT perpetual contract is based on GoPlus, a project that aims to build an open, permissionless, user-driven, modular Web3 user security layer designed to integrate with any blockchain network. This listing is expected to provide traders with more options and liquidity in the cryptocurrency market.

The launch of the GPS/USDT perpetual contract comes amidst a volatile period in the cryptocurrency market. The US stock market has lost $1.5 trillion, and the cryptocurrency market has lost $300 billion. However, despite the market downturn, some analysts remain optimistic about the long-term prospects of the cryptocurrency market.

Arthur Hayes, the co-founder of BitMEX, has recently stated that Bitcoin could drop to $70,000, but he still believes that the bull market cycle is still on. The Trump effect on cryptocurrency prices has also been a topic of discussion, with some investors wondering when the best time to buy the dip is.

The listing of the GPS/USDT perpetual contract by OKX is a significant development in the cryptocurrency market. As the market continues to evolve, exchanges like OKX are expanding their offerings to meet the demands of traders. The GPS/USDT perpetual contract is expected to provide traders with more opportunities to hedge their positions and speculate on the price movements of GoPlus.