dYdX Price Reaches $2.05 on Major Exchanges (DYDX)

dYdX (DYDX) traded down 4.7% against the U.S. dollar during the 24-hour period ending at 9:00 AM Eastern on May 22nd. dYdX has a market cap of $774.46 million and approximately $21.44 million worth of dYdX was traded on exchanges in the last 24 hours. One dYdX token can currently be purchased for approximately $2.05 or 0.00002933 BTC on major cryptocurrency exchanges. Over the last seven days, dYdX has traded 4.8% higher against the U.S. dollar.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

• KILT Protocol (KILT) traded 1.6% lower against the dollar and now trades at $0.31 or 0.00000440 BTC.
• 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 down 2.2% 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.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Lego Coin (LEGO) traded flat against the dollar and now trades at $0.0086 or 0.00000013 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 down 3% against the dollar and now trades at $0.0104 or 0.00000015 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 launched on August 3rd, 2021. dYdX’s total supply is 472,707,561 tokens and its circulating supply is 377,821,714 tokens. dYdX’s official message board is dydx.forum. The Reddit community for dYdX is https://reddit.com/r/dydxprotocol and the currency’s Github account can be viewed here. dYdX’s official Twitter account is @dydx and its Facebook page is accessible here. dYdX’s official website is dydx.trade/?utm_source=cmc&utm_medium=media&utm_campaign=cmc-feed.

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 possible to buy alternative cryptocurrencies such as dYdX directly using U.S. dollars. Investors seeking to trade dYdX should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Changelly or Coinbase. 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