dYdX (DYDX) Hits Self Reported Market Capitalization of $193.05 Million

dYdX (DYDX) traded up 2.4% against the US dollar during the 1 day period ending at 19:00 PM E.T. on September 8th. During the last seven days, dYdX has traded 2.8% higher against the US dollar. dYdX has a market capitalization of $193.05 million and $12.32 million worth of dYdX was traded on exchanges in the last day. One dYdX token can currently be purchased for approximately $0.88 or 0.00001606 BTC on popular cryptocurrency exchanges.

Here’s how similar cryptocurrencies have performed during the last day:

• 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 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 1.2% higher 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 17.4% higher against the dollar and now trades at $0.0600 or 0.00000109 BTC.
• 2G Carbon Coin (2GCC) traded 0.4% lower against the dollar and now trades at $0.0480 or 0.00000183 BTC.

dYdX Token Profile

dYdX’s genesis date was August 3rd, 2021. dYdX’s total supply is 399,905,168 tokens and its circulating supply is 220,426,917 tokens. The official website for dYdX 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. 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 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 GDAX. 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