DYDX

dYdX price

DYDX
|
3.7/5
CyberScope
4.0
05/19/2024
TokenInsight
3.3
10/30/2022
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USD
USD
$1.9150
-0.68%
1h
24h
1W
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dYdX price live data

The current price of dYdX is $1.9150. Since 00:00 UTC, dYdX has decreased by -0.67%. It currently has a circulating supply of 558,480,505 DYDX and a maximum supply of 1,000,000,000 DYDX, giving it a fully diluted market cap of $1.07B. At present, dYdX holds the 57 position in market cap rankings. The dYdX/USD price is updated in real-time.

dYdX price performance in USD

Time periodChange amount%Chg
Today-$0.01300 -0.68%
7 days-$0.09400 -4.68%
30 days-$0.36400 -15.98%
3 months-$1.2240 -39.00%

dYdX market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$1.9120
Last price $1.9150
24h high$2.0620
Heat index ranking
66
Market cap ranking
57
Market cap
$1.07B
Favorited rate
Percentage of users who favorited this asset to all users
4.89%
All-time high
$30.0000
-93.62% (-$28.0850)
Sep 8, 2021 (3 years ago)
All-time low
$1.0030
+90.92% ($0.91200)
Jun 19, 2022 (2 years ago)
ICO date
09/08/2021
ICO price
The price at which this crypto was first traded
$0
Circulating supply
The amount of this crypto that is publicly available in the market
558,480,505 DYDX
Market cap at circulating supply
Market cap = Circulating supply × Last price
$1.92B

About dYdX (DYDX)

As a Layer-2 decentralized exchange, dYdX leverages Ethereum smart contracts to create various crypto-asset financial products. DYDX is the name and ticker symbol of the governance token of the dYdX exchange. With advanced trading features, this open trading platform supports perpetual futures, margin trading, borrowing, and lending to ensure fast execution, security, and transparency. The exchange also offers programmatic trading and helps traders build their trading bots on dYdX.

In 2020, the fully noncustodial protocol also implemented a Layer 2 scaling solution (ZK-rollups) by partnering with blockchain technology developer StarkWare. With this partnership, the perpetual contracts on the exchange are powered by StarkWare’s scalability engine, StarkEx. As a result, with 25 times more buying power, traders no longer have to pay fees to miners for each transaction.

The StarkWare and dYdX integration helped bring more trading pairs onto the exchange, allowing traders to increase capital efficiency and trade with lower margin requirements.

The liquidity of the dYdX exchange is mainly due to staking pools. dYdX has two types of staking pools, namely safety and liquidity pools. Both provide liquidity and allow the creation of new markets on the Layer 2 protocol. Users continue to receive staking rewards in proportion to their share in the pools. The platform also incentivizes long-term holders of DYDX tokens by providing them with trading rewards and discounts.

DYDX price and tokenomics

DYDX has a total supply of 1 billion, which will be distributed over five years. The perpetual inflation rate is fixed at a maximum of 2% per year, enforced via a governance proposal. All holders of DYDX tokens can participate in the governance process to make necessary changes to the Layer 2 protocol. For example, holders can define staking pool payouts and set risk parameters, adding more utility value to the DYDX token.

50% of the total supply of DYDX tokens will go towards the dYdX community, which includes traders, liquidity providers, and stakers. The remaining supply is distributed among past investors and employees of the dYdX Foundation. The token’s staking mechanism and governance utility has facilitated the growth of DYDX’s price.

About the founders

Antonio Juliano is the founder and CEO of dYdX. He started his journey in the crypto world after graduating from Princeton University with a computer science degree, which landed him an internship at Coinbase. He started the dYdX decentralized exchange to increase transparency, improve user safety, and faster trading transactions. Juliano felt a lot of demand for margin trading and pushed it as a use case for dYdX.

dYdX has raised a total of $87 million over four funding rounds. On June 15, 2021, dYdX raised $65 million during a Series C round led by Paradigm. The previous funding round in January 2021 helped raise $10 million, the lead investors being Three Arrows Capital and Defiance Capital.

DYDX FAQ

What is DYDX?

dYdX is an advanced trading exchange for spot, margin, and perpetual futures trading. Traders can directly access the platform without handing over their assets to a central entity. The platform is powered by smart contracts on Ethereum, making dYdX an open, permissionless, noncustodial DEX. DYDX is the ticker symbol of the exchange’s native governance token.

dYdX offers various trading tools and features that help with faster trade execution, security, and platform transparency. Moreover, there have been no gas fees after implementing Layer 2 scaling solutions, giving traders access to more trading pairs.

How does DYDX work?

The noncustodial dYdX exchange uses smart contracts for all its services. Each asset listed on dYdX has its own lending pool. Lenders and borrowers interact within asset pools, determining the supply and demand and each asset’s interest rates. DeFi services such as margin trading and perpetual futures trading are also available.

Where can I buy DYDX?

Easily buy dYdX tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include dYdX/USDT and dYdX/USDC.

You can also buy dYdX with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

Swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for dYdX with zero fees and no price slippage by using OKX TR Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into dYdX, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

DYDX calculator
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1 DYDX ≈ $1.9150 USD
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