dYdX
Symbol: dydx
Last update: February 24, 2024, 3:16 am CET
Current Price (USD): 3,26 $
Price (BTC): 0,00008402 BTC

dYdX is a decentralized exchange (DEX) that specializes in derivatives and margin trading leveraging blockchain technology. It was founded with the aim of providing advanced trading tools similar to those available in traditional financial markets, but with the added benefits of decentralization, such as transparency, security, and resistance to censorship.

The dYdX platform allows users to trade various types of financial instruments, including perpetual swaps and futures, with these products being based on cryptocurrencies. Users have the opportunity to trade with leverage, which means they can amplify their potential returns as well as their risks.

dYdX operates on the Ethereum blockchain and utilizes smart contracts to automate trading processes and settle transactions. As the platform is decentralized, it does not require users to provide personal information or trust their assets to a third party. Instead, funds are stored directly in their crypto wallets.

The dYdX token serves as the native utility token of the platform and can be used for various purposes including voting in community governance, reducing trading fees, and participating in staking programs.

It's important to note that despite the advantages of decentralization, trading derivatives and using leverage is highly speculative and can lead to high losses as well as gains. Users should carefully familiarize themselves with the risks associated with trading on platforms like dYdX.

Where buy dYdX?

  • Osmosis
Fully Diluted Valuation ⓘ: 0 $

Market Data

Rank: 62
24h Volume: 18 949 300 $
Market Cap: 1 400 400 000 $
Total Supply: 704 445 000
Circ. Supply: 0
Last update: 2024-02-24 03:16:23
Price Change (1h):
-0.98567 %
Price Change (24h):
11.4168 %
Price Change (7d):
5.44737 %

Social Media and Sources

ATH Price: 3.73 $ (2023-12-03 23:23:34)
% from ATH: -18.3 %
ATL Price: 2.35 $ (2023-10-31 08:13:09)
% from ATL: 29.94 %
ICO Price: N/A (2023-12-05 15:33:49)
Hashing Algorithm: N/A
Type of Proof: N/A

Explorers

Technical analysis according to the website Tradingview.com

News

The upcoming release of 150M $DYDX tokens, representing a significant portion of the circulating supply, raises questions about potential market impact and whale movements.

Last week, as reported by several sources, Axelar announced its integration with dYdX v4 in a bid to power cross-chain transactions. In an effort to spread the news and celebrate this significant milestone, the company has launched a new Galxe quest, offering free OATs for users who participate. Interested individuals can learn more about the integration and get started by following the link provided on their official announcement. Additionally, a Coindesk article detailing the integration was published recently, providing further insights into the partnership. Axelar Co-Founder Discusses Ethereum's Interoperability Problem
Recent reports reveal a new partnership between Axelar, Squid, and dYdX, the largest decentralized financial derivatives platform. The collaboration aims to efficiently transition users onto the upcoming dYdX v4 platform, utilizing Squid's technology powered by Axelar. An article from The Block provided detailed information on this development. In light of this significant news, an Ask Me Anything (AMA) session was scheduled to cover the details and answer any questions from the public. stETH Ventures into Cosmos Ecosystem Than
The dYdX v4 chain is designed to provide users with an optimal trading experience, featuring zero gas fees, low latency, high throughput, and deep liquidity. These characteristics make it comparable to a centralized exchange. To achieve this, the dYdX chain employs an in-memory order book where only filled orders are committed to consensus off-chain. This design could potentially lead to Miner Extractable Value (MEV) extraction through both new and established methods. The dYdX team is proactively addressing these concerns from the outset and plans to release more specific information about their MEV solutions soon. Understanding MEV MEV refers to t

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