dYdX (DYDX) Price Tops $1.24 on Exchanges

by · The Markets Daily

dYdX (DYDX) traded up 27.5% against the U.S. dollar during the 1 day period ending at 0:00 AM ET on October 20th. During the last week, dYdX has traded 30% higher against the U.S. dollar. dYdX has a market capitalization of $273.14 million and $192.38 million worth of dYdX was traded on exchanges in the last day. One dYdX token can now be bought for approximately $1.24 or 0.00001804 BTC on popular exchanges.

Here is how similar cryptocurrencies have performed during the last day:

  • Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
  • CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
  • Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
  • Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
  • Lumi Credits (LUMI) traded up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
  • AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
  • MVP Coin (MVP) traded 0% lower against the dollar and now trades at $0.0801 or 0.00000115 BTC.
  • P2P Solutions foundation (P2PS) traded 3.2% higher against the dollar and now trades at $176.54 or 0.00256703 BTC.

dYdX Token Profile

dYdX launched on August 3rd, 2021. dYdX’s total supply is 399,510,149 tokens and its circulating supply is 220,107,268 tokens. dYdX’s official Twitter account is @dydx and its Facebook page is accessible here. The Reddit community for dYdX is https://reddit.com/r/dydxprotocol and the currency’s Github account can be viewed here. dYdX’s official website is dydx.trade/?utm_source=cmc&utm_medium=media&utm_campaign=cmc-feed. The official message board for dYdX is dydx.forum.

According to CryptoCompare, “dYdX (DYDX) is a decentralised exchange (DEX) that has significantly contributed to the decentralised finance (DeFi) ecosystem by offering advanced trading options such as perpetual contract trading and margin trading. Founded by Antonio Juliano in 2017, dYdX leverages StarkEx for scalability and efficiency, facilitating leveraged trading with reduced gas fees on a non-custodial platform. The transition to the dYdX Chain, a Cosmos SDK-based proof-of-stake blockchain, marks a pivotal evolution in the utility of the DYDX token. This migration expands its role from primarily serving as a governance token on Ethereum to a multi-faceted Layer 1 token on the dYdX Chain, encompassing staking, network security, and governance functionalities. The community-driven move to adopt DYDX as the Layer 1 token signifies a step towards more scalable, secure, and user-governed financial services in the crypto space.”

Buying and Selling dYdX

It is usually not possible to buy alternative cryptocurrencies such as dYdX directly using U.S. dollars. Investors seeking to acquire dYdX should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy dYdX using one of the exchanges listed above.

DYDX/USD price chart by TradingView