dYdX (DYDX) Price Reaches $1.07 on Exchanges

dYdX (DYDX) traded 2% higher against the US dollar during the twenty-four hour period ending at 20:00 PM Eastern on October 30th. dYdX has a total market cap of $234.89 million and approximately $39.92 million worth of dYdX was traded on exchanges in the last day. One dYdX token can now be bought for approximately $1.07 or 0.00001475 BTC on exchanges. In the last week, dYdX has traded 1.7% lower against the US dollar.

Here’s how similar cryptocurrencies have performed in 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 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 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.
• SolvBTC (SOLVBTC) traded down 0.6% against the dollar and now trades at $72,189.72 or 0.99799091 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded 0.6% lower against the dollar and now trades at $72,123.35 or 0.99707344 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

dYdX Profile

dYdX launched on August 3rd, 2021. dYdX’s total supply is 396,745,510 tokens and its circulating supply is 220,105,801 tokens. dYdX’s official website is dydx.trade/?utm_source=cmc&utm_medium=media&utm_campaign=cmc-feed. 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 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.”

Buying and Selling dYdX

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

DYDX/USD price chart by TradingView