dYdX Trading 9.5% Lower Over Last Week (DYDX)

dYdX (DYDX) traded up 1.7% against the dollar during the 1 day period ending at 21:00 PM Eastern on September 4th. dYdX has a market cap of $199.25 million and $21.60 million worth of dYdX was traded on exchanges in the last 24 hours. One dYdX token can now be purchased for about $0.88 or 0.00001514 BTC on exchanges. Over the last seven days, dYdX has traded 9.5% lower against the dollar.

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

• Taiko (TAIKO) traded 3.8% higher against the dollar and now trades at $1.42 or 0.00002441 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 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 up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded down 1% against the dollar and now trades at $0.0501 or 0.00000086 BTC.

dYdX Token Profile

dYdX’s genesis date was August 3rd, 2021. dYdX’s total supply is 406,384,489 tokens and its circulating supply is 226,893,529 tokens. The official message board for dYdX 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 purchase alternative cryptocurrencies such as dYdX directly using US dollars. Investors seeking to acquire dYdX should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase dYdX using one of the exchanges listed above.

DYDX/USD price chart by TradingView