dYdX (DYDX) Falls 15%: Is It Worth Buying?

During the last 24-hours, dYdX’s price indicators have moved downwards on the chart from $12.16 to $10.11, which represents a 15% drop. The market capitalization of DYDX is $567,969,918 along with a 24-hour trading volume of $267,769,078. The price of the token has been showing no signs of decrease for the 15 hours, however, it has been falling with the constant speed for the last 5 hours. Market Cap Rank of the cryptocurrency for today is #139 with the Fully Diluted Valuation of $10,200,609,154.

dYdX is a “decentralized” Layer-2 trading platform developed on Ethereum (ETH) providing various financial products, such as margin trading, derivatives, and perpetual contracts. dYdX enables users to borrow, lend and make predictions on the future prices of virtual currencies. Instead of maintaining a central order book where buyers and sellers are able to place their orders, dYdX makes use of a set of liquidity pools, where funds may be accessed by traders looking to purchase or sell digital currencies.

Michael Rowels

Weekend Contributor.Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.