dYdX Trading Up 5.8% Over Last Week (DYDX)

dYdX (DYDX) traded up 2.3% against the U.S. dollar during the one day period ending at 0:00 AM E.T. on October 18th. One dYdX token can now be bought for approximately $0.97 or 0.00001421 BTC on major cryptocurrency exchanges. In the last seven days, dYdX has traded up 5.8% against the U.S. dollar. dYdX has a market capitalization of $214.19 million and $12.00 million worth of dYdX was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed in the last day:

• 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 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 2.2% lower 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 50.5% higher against the dollar and now trades at $0.0743 or 0.00000109 BTC.
• P2P Solutions foundation (P2PS) traded up 1.2% against the dollar and now trades at $171.13 or 0.00249940 BTC.

About dYdX

dYdX’s launch 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. The Reddit community for dYdX is https://reddit.com/r/dydxprotocol and the currency’s Github account can be viewed here. dYdX’s official message board is dydx.forum. 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.”

Buying and Selling dYdX

It is usually not possible to buy alternative cryptocurrencies such as dYdX directly using US dollars. Investors seeking to trade dYdX should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, 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