dYdX Self Reported Market Capitalization Tops $495.87 Million (DYDX)

dYdX (DYDX) traded 1.6% lower against the US dollar during the 1-day period ending at 14:00 PM Eastern on July 12th. One dYdX token can currently be purchased for about $1.31 or 0.00002246 BTC on popular exchanges. Over the last seven days, dYdX has traded up 6.8% against the US dollar. dYdX has a market cap of $495.87 million and approximately $16.60 million worth of dYdX was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded down 3.4% against the dollar and now trades at $0.18 or 0.00000311 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 2.2% lower 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.
• 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 1.7% against the dollar and now trades at $0.0128 or 0.00000022 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

About dYdX

dYdX’s genesis date was August 3rd, 2021. dYdX’s total supply is 472,707,561 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. 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 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 possible to purchase alternative cryptocurrencies such as dYdX directly using U.S. dollars. Investors seeking to acquire dYdX should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. 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