dYdX is a leading decentralized exchange offering Perpetual, Margin, & Spot trading, as well as borrow/lend pools on Ethereum. Founded back in 2017 by ex-Coinbase and Uber engineer, Antonio Juliano, dYdX is a leading decentralized exchange offering Perpetual, Margin, & Spot trading, as well as borrow/lend pools on Ethereum. Users can earn interest or take loans for a nominal fee as well as trade on margin with custom leverage. Trade your crypto, a safe and secure way, with dYdX.
According to the official website, the dYdX exchange has already established itself as a significant element in the crypto world. The platform boasts around 64,000 unique traders, $11 billion in margins and total volume across perpetual, and $250 billion in flash transactions from dYdX liquidity pools.
Furthermore, The dYdX platform is now divided into two main layers offering DeFi products with different features.
Margin and Spot Trading on Layer 1 of Ethereum is a trading platform running on Smart Contracts of the Ethereum blockchain, allowing trade without any intermediary. It has the following features and products :
dYdX supports Portfolio management for traders to control their trades, get Fee Discounts based on their trading volume and claim Trading Rewards. Price data feed or price oracle is crucial as it directly affects the benefits and experiences of users For every trading platform. dXdX uses MakerDAO and Chainlink oracle to feed the price data through its Smart Contract running on the Ethereum blockchain.
dYdX price today is $14.91 with a 24-hour trading volume of $188,807,331. DYDX price is down -6.1% in the last 24 hours. It has a circulating supply of 57 Million DYDX coins and a total supply of 1 Billion. At the time of writing this post (Oct 31, 2021), DYDX's Return On Investment (ROI) over the past year was 421%, underperformed in 'Perpetuals, Decentralized Finance (DeFi), Exchange-based Tokens' categories which had 421% growth over the past year. It underperformed in the crypto market which had 36145% growth over the past year.
Another critical factor in the success of any project is gaining public attention. DYDX Network's marketing team is doing a great job! Our data shows that DYDX 's Twitter account saw a growth of 74% over the last months in the number of followers, which is considerable. Also, the number of DYDX Reddit subscribers increased by 105%.
Over the last five months, DYDX 's Market Capitalization rank followed an overall declining trend that had been seen from June 1, 2021, reaching 88 in Oct 2021. However, by the time of writing this post, DYDX 's market cap rank is about 126, and its value is $861,234,027 Million. Moreover, its liquidity score is 31% is below the market's average score, which means that you might face some difficulties selling DYDX in bear markets.
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