dYdX Hits Self Reported Market Cap of $243.45 Million (DYDX)

dYdX (DYDX) traded up 20% against the US dollar during the one day period ending at 19:00 PM E.T. on November 6th. One dYdX token can now be bought for approximately $1.11 or 0.00001464 BTC on major exchanges. dYdX has a market capitalization of $243.45 million and approximately $59.04 million worth of dYdX was traded on exchanges in the last day. Over the last week, dYdX has traded 3.8% higher against the US dollar.

Here is how other cryptocurrencies have performed over 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 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% 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 (SOLVBTC) traded up 9.2% against the dollar and now trades at $75,639.13 or 0.99992802 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 9.2% higher against the dollar and now trades at $75,617.96 or 0.99964816 BTC.
• AXIA Coin (AXC) traded down 0.1% 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 372,950,522 tokens and its circulating supply is 219,842,897 tokens. The official website for dYdX is dydx.trade/?utm_source=cmc&utm_medium=media&utm_campaign=cmc-feed. The Reddit community for dYdX is https://reddit.com/r/dydxprotocol and the currency’s Github account can be viewed here. dYdX’s official message board is dydx.forum. dYdX’s official Twitter account is @dydx and its Facebook page is accessible here.

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 U.S. dollars. Investors seeking to trade dYdX should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy dYdX using one of the aforementioned exchanges.

DYDX/USD price chart by TradingView