Real-time DYDX price analysis
The current real-time price of dYdX is $3.59and its trading volume is equal to US$559,309,643 in the last 24 hours. DYDX price has grew by
11.84%
on the last day and increased by
19.20%
in the last 7 days. It is important to note that dYdX’s current market capitalization is US$1,061,481,259Speaking of working resources, DYDX has 295 616 430 coins. dYdX’s current market rating is #72.
dYdX price today
87.07%
below
always on top and that’s it
0.00%
below
always at a low level.
All data and prices are updated in real time. The most active and popular exchanges for buying or selling DIDKS are Binance, Kucoin & Kraken. Find more cryptocurrency exchange options on our Cryptocurrency exchange tracker. The most secure hardware wallets to store your cryptocurrency: Ledger And Trezor.
What is dYdX (DYDX)?
DYDX is native token of a decentralized crypto derivatives exchange (DEX) it bears the same name – dYdX. If you are interested in the current price of DYDX, check out the dYdX price chart above.
dYdX uses a two-tier approach. On Layer-1 (based on Ethereum), dYdX is a liquid DEX that provides users with cryptocurrency margin and spot trading capabilities with up to 5x leverage. However, on Layer-2 (based on StarkWare), dYdX offers open-ended contract trading with leverage up to 25x.
Simply put, margin trading allows traders to borrow more crypto assets by using their funds as collateral to buy or sell than they could do using only their funds.
On the other hand, perpetual contracts are essentially futures contracts that allow investors to place an order to buy or sell at a predetermined price without an expiration date. Perpetual cross-margin trading offered by dYdX allows users to reassign their funds and add liquidity to open trades.
The main difference between dYdX isolated margin and cross margin trading is that cross margin uses all the assets that the trader holds on the platform. In contrast, isolated margin allows users to allocate specific account funds within a trade.
In addition, dYdX provides lending and borrowing services to users. By investing their assets in certain lending pools, lenders can earn passive income.. Borrowers can use their funds as collateral to borrow any asset offered in these pools. dYdX ensures that borrowers always have enough collateral in their accounts to provide security for lenders.
To improve layer 2 scalability, dYdX uses the Starkware package. StarkEx Zero Knowledge Joins. StarkEx is a STARK-based scaling engine for crypto exchanges. It uses cryptographic proofs to verify the legitimacy of batch transactions. StarkEx allows dYdX to reduce protocol minimum trade sizes, speed up transactions, eliminate gas costs, and minimize trading costs.
How it works? Simply put, by verifying a group of off-chain transactions, the technology obtains evidence. The blockchain smart contract uses this evidence to verify it before sending it back.
Founder dYdX
Antonio Giuliano founded dYdX in 2017. However, the platform was only introduced to the public in 2019. Giuliano is a programmer and entrepreneur with a degree in computer science. Before founding dYdX, he worked as a software engineer at Coinbase, Uber, and MongoDB.
Purpose of DYDX tokens
DYDX is a utility token of the dYdX exchange. The main use case for the token is: control. Owners of DYDX crypto assets can participate in decision-making processes regarding the further development of the protocol.
In addition, DYDX also acts as reward token. This includes trading rewards, retroactive rewards and liquidity provider rewards.
In addition, whenever users trade on the dYdX exchange, they can receive discounts on trading commissions depending on the number of DYDX coins they hold.
Finally, DYDX tokens can be staked in a security module pool, ensuring the security of the platform. Stakers receive additional rewards for their contributions.
The price of DYDX is subject to change, so keep this in mind if you are thinking about purchasing DYDX tokens. This is because the volatility of the entire cryptocurrency market affects DYDX, just like the prices of other digital assets.
DYDX Tokenomics
DYDX is a deflationary token as it has a maximum supply of 1 billion tokens. This means that the price of dYdX is expected to increase over time. All tokens have already been minted. Tokens will gradually enter circulation. within five yearsstarting August 3, 2021
Half of the DYDX token supply is dedicated to the community, which includes various rewards, a liquidity staking pool, and a community treasury. The remaining tokens are distributed among investors, founders, employees, advisors and consultants.
Initial Coin Offering (ICO) for dYdX took place in September 2021. During this time, the price of DYDX was very volatile and fluctuated between $12 and $26. In general, dYdX tends to follow bearish and bullish market trends set by major cryptocurrencies. It was one of many crypto assets that were negatively impacted by the May-June 2022 market crash.
If you are interested in the current price of DYDX, you can take a look at the dYdX price chart above.
What is the trading volume of dYdX in the last 24 hours?
DYDX has trading volume US$559,309,643 in the last 24 hours.
What is the highest price for dYdX?
DYDX has the highest price $27.78which was achieved at September 30, 2021 (2 years 4 months ago).
What is the lowest price for dYdX?
DYDX has the lowest price $0.00which was achieved at September 08, 2021 (2 years 5 months ago).
Which exchanges are best for buying and selling DYDX?
Currently the most active and dominant exchanges for buying and selling dYdX are Binance, Kraken & Kucoin. The most popular dYdX trading pairs DYDX/USDT
(on
Binance
),
DYDX/USDT
(on
Gate.io
),
ETHDYDX/USDT
(on
DigiFinex
). Go to Catalog of crypto trades to access customized and exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.
What are the safest hardware wallets for storing DYDX?
According to the process of in-depth analysis and testing, Ledger And Trezor are one of the most secure and popular hardware wallet options for storage dYdX. For exclusive discounts and promotions on the best crypto wallets, visit Catalog of crypto trades.
Pages related to dYdX
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Learn Cryptocurrency From scratch.
A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
