DYDX Pops 18%: Right Time To Invest?

dYdX token is a governance token for the dYdX exchange protocol. Past protocol users who trade on margin or decentralized perpetual swaps are eligible to earn retroactive rewards. The dYdX (DYDX) price is currently $13.12, with a general market cap of $653,833,824. Nevertheless, in the last 24 hours, the cryptocurrency has peaked at 18%. Token holders will govern the dYdX Layer 2 protocol built with Starkware to align incentives between traders, liquidity providers, and partners.

What Is Ethereum Cryptocurrency - History, Uses & Differences vs. BitcoinA community treasury is allocated to grow the ecosystem through grants, liquidity mining programs, and which will be decided by the dYdX governance. Aside from governance, traders are eligible for trading discounts when trading on dYdX if they hold the tokens. Discount fees can go as high as 50% if they hold at least 5 million tokens. By now, the trading volume represents $330,070,559.

April Sanchez

Business and Tech Reporter