dYdX Reaches Self Reported Market Cap of $216.93 Million (DYDX)

dYdX (DYDX) traded 3.6% higher against the dollar during the twenty-four hour period ending at 18:00 PM Eastern on October 19th. One dYdX token can now be purchased for approximately $0.99 or 0.00001444 BTC on popular cryptocurrency exchanges. dYdX has a total market cap of $216.93 million and approximately $9.81 million worth of dYdX was traded on exchanges in the last 24 hours. During the last seven days, dYdX has traded up 6.6% against the dollar.

Here is how related cryptocurrencies have performed during the last 24 hours:

• 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 2.2% lower 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.
• 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 5.9% higher against the dollar and now trades at $0.0787 or 0.00000115 BTC.
• P2P Solutions foundation (P2PS) traded 0.3% higher against the dollar and now trades at $171.12 or 0.00250661 BTC.

dYdX Token Profile

dYdX’s genesis date was August 3rd, 2021. dYdX’s total supply is 399,510,794 tokens and its circulating supply is 220,107,843 tokens. 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. The Reddit community for dYdX is https://reddit.com/r/dydxprotocol and the currency’s Github account can be viewed here. The official message board for dYdX 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.”

dYdX Token Trading

It is usually not presently possible to purchase alternative cryptocurrencies such as dYdX directly using U.S. dollars. Investors seeking to trade dYdX should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. 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