dYdX Self Reported Market Cap Reaches $1.32 Billion (DYDX)

dYdX (DYDX) traded 3.4% lower against the U.S. dollar during the 1-day period ending at 12:00 PM E.T. on February 29th. One dYdX token can currently be purchased for $3.50 or 0.00005644 BTC on cryptocurrency exchanges. During the last week, dYdX has traded up 18.5% against the U.S. dollar. dYdX has a market capitalization of $1.32 billion and $189.45 million worth of dYdX was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

  • KILT Protocol (KILT) traded 0.1% lower against the dollar and now trades at $0.36 or 0.00000586 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 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.
  • Lego Coin (LEGO) traded 29.9% higher against the dollar and now trades at $0.0139 or 0.00000022 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 0.9% lower against the dollar and now trades at $0.0108 or 0.00000017 BTC.
  • AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

dYdX Token Profile

dYdX was first traded on August 3rd, 2021. dYdX’s total supply is 536,043,997 tokens and its circulating supply is 377,821,714 tokens. dYdX’s official message board is dydx.forum. The official website for dYdX is dydx.trade. 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 @dydxfoundation and its Facebook page is accessible here.

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 buy alternative cryptocurrencies such as dYdX directly using US dollars. Investors seeking to trade dYdX should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy dYdX using one of the aforementioned exchanges.

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