Exchange dYdX (DYDX) at the Best Rates

dYdX (DYDX)ETH

Instantly exchange dYdX at the best price and with the lowest fees on StealthEX. Free from registration, fast, and limitless DYDX swaps. You can see for yourself how convenient it is.

dYdX (DYDX) Price Statistics

  • price
    price

    Price (USD)

    $1.40
  • supply
    supply

    Circulating Supply

    $606.0683M
  • volume
    volume

    Volume (24h)

    $22.9052M
  • marketcap
    marketcap

    Market Cap

    $847.0679M
  • dry
    dry

    Low/High 24h

    $1.38 - $1.43
  • change
    change

    Change (24h)

    -$0.00798287

DYDX – Expanding Financial Freedom

The crypto market offers a number of DEXes and CEXes for trading, including such networks as DEMX, Saddle Finance, and Shell Protocol. Their main competitor is dYdX, a decentralized Ethereum-based exchange that allows for a variety of trading methods and offers a large number of trading options. Let’s take a look at the platform and its native token, DYDX.

What Is dYdX?

dYdX is a decentralized platform founded by Antonio Juliano, a California-based entrepreneur, in August 2017. dYdX is a brilliantly executed decentralized crypto derivatives exchange with a plethora of margin trading and perpetual options for everyone. Besides having a clever name (dy/dx refers to Leibniz’s Notation in mathematics), dYdX has filled a compelling niche within the crypto trading realm.

The exchange was launched in July 2017 initially offering crypto margin trading, lending and borrowing services over Ethereum layer-1. While customers can trade crypto assets on dYdX in the spot market, the exchange concentrates on giving access to complex crypto products such as perpetual and margin trading, as well as borrowing and lending. To scale up trade, dYdX launched a layer 2 protocol based on StarkWare's zero-knowledge rollups in 2021. 

The DEX also announced plans for its own independent blockchain based on the Cosmos SDK in 2022. In March 2023, dYdX announced the launch of its V4 private testnet, taking a significant step that will see the decentralized derivatives exchange (DEX) leave Ethereum. By the end of September, the platform will be fully running on Cosmos.

The dYdX protocol's fourth edition will be released as an open-source, decentralized, and community-controlled trading platform. Aside from full decentralization, the dYdX v4 protocol is anticipated to reintroduce trading features including spot, margin, and other synthetic products. In addition, the company plans to strengthen existing margin and collateral choices, as well as other trade activities.

The community will seize control of dYdX v4 from the firm, dYdX Trading Inc., which will no longer be able to receive revenue through trading fees. Following community approval, the inability to make revenue will extend to all associated centralized systems.

How Does dYdX Work?

To understand how dYdX works, one must first grasp the numerous trading alternatives available in the market, as well as the key distinctions between them.

Perpetual futures contracts, also known as perpetual contracts, allow users and investors to place a purchase or sell order at a fixed price eternally, that is, with no expiry date. This is in contrast to spot trading, which includes selling or purchasing cryptocurrencies on the spot based on the market price. Traditional futures contracts, on the other hand, have a time limit on each order, which automatically collapses once the time limit has passed.

dYdX is a decentralized exchange that initially hosts perpetual markets but has since expanded to allow spot and margin trading on the Ethereum layer-1 blockchain as well as layer-2 cross-margined perpetuals.

Additionally, the platform offers layer-2 perpetual trading options, non-fungible token (NFT) collections for community building, and a Ropsten Ethereum testnet for projects that seek risk-free testing environments.

Perpetual Trading

The flagship product of dYdX is perpetual trading, which allows customers to trade open markets using non-expirable contracts. As a result, investors can maintain their buy or sell positions forever until the trade conditions are met. For example, if a user enters an order to sell one Bitcoin for $100,000, the order will remain open until Bitcoin reaches $100,000 and the trade is completed. An investor, on the other hand, may choose to terminate the contract by pre-closing the purchase or sell order.

The dYdX perpetual is a non-custodial, decentralized margin product that gives synthetic exposure to a wide range of cryptocurrency assets. dYdX currently has roughly $341.5 million in total value locked (TVL). Perpetual contracts are created on top of an underlying asset, in this case Ethereum-based ERC-20 tokens. As a result, dYdX enables the formation of totally new asset classes whose value is derived from the underlying blockchain-based assets.

Spot and Margin Trading on dYdX

dYdX used to provide spot and margin trading services using the Ethereum layer-1 blockchain protocol. On November 1, 2021, the exchange discontinued its layer-1 offering and has since shifted to offering layer-2 everlasting items, furthering its objective of becoming a genuinely decentralized exchange.

The dYdX exchange leverages spot and margin trading with Ethereum smart contracts. dYdX, like other controlled and decentralized exchanges, provides trading options such as stop-loss and limit orders.

Layer-2 dYdX offers unique features like:

  1. Fast withdrawal: A special withdrawal liquidity provider sends funds immediately when this option is selected. No wait time for withdrawal equals speedier trading.
  2. USDC collateral: dYdX accepts USDC collateral only, providing a clear, stable, and widely available quote asset for all traders.
  3. Non-custodial: Layer 2 dYdX is built on StarkWare and features fully on-chain liquidity backed by StarkEx technology. Allows real-time yet secure decentralized trading.

Hedgies – NFTs on dYdX

Hedgies, a collection of animated hedgehogs developed by two independent digital artists, Anna and Arek Kajda, is dYdX's latest product offering. dYdX's NFT collection commenced in February 2022 and has already issued 4,200 NFTs on the Ethereum blockchain. 

Users receive Hedgies depending on their trade data and community engagement such as voting. Owners of Hedgies NFTs are eligible for various benefits when trading on dYdX. Minting Hedgies is free to use and was designed to reward players for various events and achievements.

dYdX Coin, the Governance Token to Unlock New Opportunities

DYDX, the governance token for the dYdX protocol, was issued around one year after the debut of the dYdX platform. Users can earn DYDX tokens by trading on the DEX, with all costs and open interest paid. The DYDX token is hugely responsible for the trading platform’s success because it’s primarily used for generous rewards. 

The dYdX exchange's community arm allows users to stake their existing crypto holdings to earn yield in DYDX, an in-house governance token. Users can stake USD Coin (USDC) and earn rewards for contributing to dYdX exchange liquidity in two pools on the exchange: the liquidity pool and the safety pool. dYdX Foundation also increased quarter-over-quarter in 2023.

DYDX coins can also be utilized on the platform for community voting and governance projects. Users can vote with their DYDX reserves on community requests for module enhancements, restorations, and grants. You can also help the community by purchasing DYDX coins on major cryptocurrency exchanges.

At the moment, DYDX token’s price fluctuates around $2,13. According to many experts, DYDX crypto will eventually rise to $8 in 2025 and go over $22 in 2030.

How to Buy dYdX Crypto?

StealthEX is here to help you buy dYdX crypto. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 1,000 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

Just go to StealthEX and follow these easy steps:

  1. Choose the pair and the amount you want to exchange. For instance, BTC to DYDX.
  2. Press the “Start exchange” button.
  3. Provide the recipient address to transfer your crypto to.
  4. Process the transaction.
  5. Receive your crypto coins. 

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dYdX Price Chart


dYdX (DYDX)


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