dYdX (DYDX) Price Tops $2.18 on Major Exchanges

dYdX (DYDX) traded down 4.3% against the dollar during the 1 day period ending at 21:00 PM ET on May 6th. dYdX has a total market capitalization of $824.26 million and approximately $34.09 million worth of dYdX was traded on exchanges in the last 24 hours. One dYdX token can now be purchased for about $2.18 or 0.00003429 BTC on cryptocurrency exchanges. In the last seven days, dYdX has traded 1.8% higher against the dollar.

Here’s how related cryptocurrencies have performed in the last 24 hours:

• KILT Protocol (KILT) traded down 1.7% against the dollar and now trades at $0.30 or 0.00000470 BTC.
• 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 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 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 1.7% against the dollar and now trades at $0.0098 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’s launch date was August 3rd, 2021. dYdX’s total supply is 1,000,000,000 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 US dollars. Investors seeking to trade dYdX should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy dYdX using one of the aforementioned exchanges.

DYDX/USD price chart by TradingView