{"id":231792,"date":"2024-01-18T20:07:18","date_gmt":"2024-01-18T14:37:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=231792"},"modified":"2024-01-18T20:07:18","modified_gmt":"2024-01-18T14:37:18","slug":"dydx-native-token-surpasses-3-as-it-becomes-top-dex-by-daily-volume-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/dydx-native-token-surpasses-3-as-it-becomes-top-dex-by-daily-volume-crypto-news\/","title":{"rendered":"dYdX native token surpasses $3 as it becomes top DEX by daily volume – Crypto News"},"content":{"rendered":"

The DYDX<\/a> token, the native token of the decentralized trading platform dYdX<\/a> Chain, is trading above $3 for the first time this year after the platform became the largest DEX by daily volume.<\/p>\n

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Data<\/a> from CoinMarketCap shows that the platform\u2019s v4 version, based on the interchain protocol Cosmos, achieved an impressive 24-hour trading volume of nearly $565.85 million. This surpassed Uniswap<\/a> v3\u2019s Ethereum market, which recorded a volume of $458.46 million in the same timeframe.<\/p>\n

When dYdX\u2019s v4 trading activities are broken down, the most traded pairs include Ethereum<\/a>\/USD, Bitcoin<\/a>\/USD, and Solana<\/a>\/USD, with volumes of $155 million, $131 million, and $91 million, respectively. The cumulative open interest for these pairs on the platform reached around $26 million.<\/p>\n

The dYdX Foundation highlighted<\/a> that this milestone was achieved in under two months since the activation of Full Trading. Last November, the platform transitioned<\/a> from its Beta Stage to Full Trading, raising initial concerns about user and market migration from Ethereum to the new blockchain.<\/p>\n

Early indications, however, dismiss these concerns. On Jan. 12, the dYdX Chain reached<\/a> a remarkable $1 billion milestone in 24-hour trading volume, emphasizing the platform\u2019s robust performance and user adoption.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Notably, dYdX\u2019s v3 Ethereum market, which is still active, also ranks among the top three DEXs. The v3 has had a trading volume of approximately $405.9 million in the past day.<\/p>\n

dYdX reclaims $3<\/span><\/h2>\n

DYDX\u2019s notable trading volume milestone propelled its token\u2019s value to over $3 for the first time this year\u2014a remarkable 7% increase within the last 24 hours.<\/p>\n

Data from CoinMarketCap highlights a previous dip in the digital asset\u2019s value to $2.36 earlier this year. Nevertheless, it has experienced a consistent upward trend over the past week, boasting a gain exceeding 10%.<\/p>\n

Despite this positive momentum, potential challenges lie ahead for the crypto token. Token Unlocks data<\/a> reveals a looming sell pressure, with approximately $2 million worth of assets poised to be unlocked in the coming week.<\/p>\n<\/p>\n

The post dYdX native token surpasses $3 as it becomes top DEX by daily volume<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The DYDX token, the native token of the decentralized trading platform dYdX Chain, is trading above $3 for the first time this year after the platform became the largest DEX by daily volume. Data from CoinMarketCap shows that the platform\u2019s v4 version, based on the interchain protocol Cosmos, achieved an impressive 24-hour trading volume of […]<\/p>\n","protected":false},"author":2,"featured_media":231793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-231792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/231792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=231792"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/231792\/revisions"}],"predecessor-version":[{"id":231799,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/231792\/revisions\/231799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/231793"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=231792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=231792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=231792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}