dYdX 1-Day Volume Reaches $18.51 Million (DYDX)

dYdX (DYDX) traded 7% higher against the US dollar during the 1-day period ending at 16:00 PM E.T. on August 12th. dYdX has a total market cap of $400.14 million and approximately $18.51 million worth of dYdX was traded on exchanges in the last day. During the last seven days, dYdX has traded 13.3% higher against the US dollar. One dYdX token can now be bought for about $1.06 or 0.00001791 BTC on major cryptocurrency exchanges.

Here is how other 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 2.2% lower 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.
• 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 0.8% lower against the dollar and now trades at $0.0127 or 0.00000021 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 7.9% lower against the dollar and now trades at $0.0522 or 0.00000088 BTC.

dYdX Token Profile

dYdX was first traded on August 3rd, 2021. dYdX’s total supply is 455,312,833 tokens and its circulating supply is 377,821,714 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. dYdX’s official message board 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.”

Buying and Selling dYdX

It is usually not presently possible to purchase alternative cryptocurrencies such as dYdX directly using US dollars. Investors seeking to acquire dYdX should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase dYdX using one of the aforementioned exchanges.

DYDX/USD price chart by TradingView