dYdX Hits Self Reported Market Capitalization of $223.55 Million (DYDX)

dYdX (DYDX) traded up 12.1% against the dollar during the twenty-four hour period ending at 23:00 PM Eastern on November 5th. dYdX has a total market cap of $223.55 million and approximately $32.42 million worth of dYdX was traded on exchanges in the last day. One dYdX token can now be purchased for about $1.02 or 0.00001361 BTC on major cryptocurrency exchanges. In the last seven days, dYdX has traded down 2.6% against the dollar.

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

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower 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 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 9.8% higher against the dollar and now trades at $74,542.08 or 0.99775471 BTC.
• SolvBTC (SOLVBTC) traded 9% higher against the dollar and now trades at $74,393.00 or 0.99575924 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

dYdX Token Profile

dYdX’s genesis date was August 3rd, 2021. dYdX’s total supply is 373,575,091 tokens and its circulating supply is 219,842,897 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. The official website for dYdX is dydx.trade/?utm_source=cmc&utm_medium=media&utm_campaign=cmc-feed. dYdX’s official message board 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.”

dYdX Token Trading

It is usually not currently possible to buy alternative cryptocurrencies such as dYdX directly using US dollars. Investors seeking to acquire dYdX should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. 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