dYdX
Current price
$0.1193
−9.16%24h
LiveUpdated 23s ago
TodaydYdX drops 9.2%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.09%
- 24 hours−9.16%
- 7 days−12.04%
- 30 days+8.47%
- 1 year−65.73%
dYdX's move in context
Lagging the market today
−9.16% today against −3.27% for the market as a whole, a gap of 5.9 points. A gap this wide suggests something specific to dYdX may be moving it, not just the market mood.
Trend has turned
−12.0% over 7 days and +8.5% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About dYdX
Overview
dYdX is a decentralized finance (DeFi) platform that specializes in the trading of cryptocurrencies with advanced features such as margin trading, perpetual contracts, and spot trading. The core mission of dYdX is to create a truly decentralized trading experience that empowers users by providing them with full control over their assets. It distinguishes itself from traditional exchanges by eliminating the intermediaries and allowing for peer-to-peer trading, significantly enhancing privacy and security for users. Its focus is on offering high-performance trading solutions, thereby reducing slippage and providing liquidity through its decentralized order book.
Technical Features
dYdX operates on the Ethereum blockchain, utilizing smart contracts to facilitate its trading operations. The platform employs Layer 2 scaling solutions, such as zk-Rollups, to enhance transaction speed and lower costs for users. The security model is built around smart contracts that have undergone rigorous audits to protect user funds from vulnerabilities. Additionally, dYdX uses a unique liquidity pool mechanism, where users can provide liquidity in exchange for trading fees, creating a mutual benefit for both the users and the platform. The innovative architecture supports real-time trading, enabling users to experience fast executions and dynamic market activity.
Use Cases
dYdX serves multiple use cases within the DeFi ecosystem. Primarily, it allows users to engage in margin trading, where they can leverage their positions to maximize potential returns while understanding their associated risks. The platform also supports perpetual contracts, providing a way for users to speculate on price movements without expiration. Furthermore, dYdX enables users to swap various cryptocurrencies in a user-friendly environment, enhancing access to diverse trading options. Additionally, the governance token ($DYDX) facilitates community involvement in decision-making processes regarding the platform’s development and future directions, fostering a sense of ownership among users.
Development Background
dYdX was founded in 2017 by Antonio Juliano, who previously worked as an engineer at Coinbase and Uber. The motivation behind its development was to provide a more sophisticated trading platform in the evolving landscape of DeFi. Since its establishment, dYdX has achieved several milestones, including the launch of its initial iterations of trading functionalities and the introduction of its governance token in 2021. Notable partnerships with various liquidity providers and DeFi protocols have strengthened its ecosystem, enhancing both credibility and user engagement.
Community and Ecosystem
The dYdX ecosystem is vibrant, featuring a strong community of traders, developers, and DeFi enthusiasts. The platform has received backing from prominent investors in the crypto space, which has facilitated rapid development and innovation. Community governance plays a significant role in shaping the future of dYdX, with token holders actively participating in proposals and voting. Various projects and applications are being built around dYdX, including integrations with other DeFi platforms, analytics tools, and educational resources aimed at increasing awareness and user adoption.
Future Potential
The future potential of dYdX is substantial, largely due to its technological advancements and the growing acceptance of DeFi solutions. As it continues to innovate, including the development of additional features and functionality that will improve user experience, dYdX is likely to become an even more prominent player in the DeFi ecosystem. Upcoming initiatives may focus on expanding trading pairs, enhancing security measures, and fostering greater interoperability with other blockchain networks. As demand for decentralized trading platforms increases, dYdX is well-positioned to capture a significant share of the market, driving further growth and adoption.
dYdX market
- Position by market cap among the coins we track.
- #383
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $4.97M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.1190High $0.1333
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $27.86
- Now 0% of itReached 30 Sept 2021 · Needs +23,261% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 41.66M ETHDYDX
- 4% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 522.46M ETHDYDX
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 1B ETHDYDX
- The most coins that can ever exist. Some coins have no limit.
dYdX converter
1 dYdX = $0.1193
