dYdX
#166
DYDX
$0,1342
−0.83% (24h)
Market Cap
$113,27M
Volume 24d
$18,06M
Updated at
17:18 UTC
Price Chart
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What is dYdX?
dYdX (DYDX) is the governance token for the dYdX decentralized derivatives trading platform, a protocol designed for trading perpetual contracts. Launched in 2021, the project was founded by Antonio Juliano. The primary function of the DYDX token is to empower community-led governance, allowing token holders to propose and vote on changes to the protocol's parameters and future development. It operates within the decentralized finance (DeFi) and decentralized exchange (DEX) categories, focusing specifically on derivatives. The platform enables users to trade complex financial instruments without relying on traditional intermediaries, contributing to the expansion of DeFi services and related technologies in the market.
How does dYdX work?
The dYdX protocol operates on its own standalone blockchain built using the Cosmos SDK. This architecture allows for a high degree of customization and performance tailored specifically for trading. The chain is designed to handle a large volume of transactions required for a derivatives exchange.
Validators are responsible for securing the network and processing transactions on the dYdX Chain. These participants run nodes, propose new blocks, and validate transactions from other users on the network. In return for their services, validators receive rewards, which helps maintain network integrity and participation.
When a user places a trade, the order is submitted to the off-chain order book for matching. Once matched, the trade is then settled on-chain, with the transaction recorded permanently on the blockchain. This hybrid model aims to provide both the speed of a centralized exchange and the security of a decentralized one.
dYdX use cases
The DYDX token serves several core functions within its ecosystem, primarily centered around platform governance and participation. Its design integrates token holders directly into the operational and strategic direction of the decentralized derivatives exchange, aligning incentives between users and the protocol itself.
- Governance: Token holders can propose and vote on protocol upgrades and parameter changes, directly influencing the platform's evolution and treasury management.
- Derivatives trading: The token is integral to the dYdX platform, which specializes in offering decentralized perpetual contracts and other derivative products to traders.
- Staking: DYDX can be staked to validators to help secure the network, and stakers may receive a portion of the trading fees.
dYdX tokenomics
The tokenomics of DYDX are defined by a fixed maximum supply, which is capped at 1 billion tokens. This finite supply means that no new DYDX tokens can be created beyond this limit, establishing a clear ceiling on the total number of tokens that will ever exist. The circulating supply represents the portion of these tokens that are currently active and available on the market. As of the latest data, the circulating supply is 844,084,129 DYDX. The distribution of these tokens is allocated over time to community members, investors, and the development team, with specific vesting schedules in place to manage the release into the market.
dYdX price history & milestones
The DYDX token was introduced to the market in 2021 as part of the launch of the dYdX platform's governance system. Since its debut, the token's value has experienced significant fluctuations, which is common for assets in the digital currency markets. The token recorded its all-time high price of $4.53 on March 7, 2024. Conversely, its all-time low was registered at a price of $0.06665 on October 10, 2025. These historical price points reflect the extremes in its valuation over its trading history. Based on market capitalization, DYDX holds a market rank of 170 among other crypto assets.
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Frequently asked questions
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What is the current price of dYdX?
As of 17:18 2026-06-23, dYdX (DYDX) is trading at $0,1342. Prices update every 5 minutes on this page. -
Is dYdX a good cryptocurrency to buy on Switchere?
Switchere does not provide investment advice. You can buy dYdX on Switchere; whether it's right for you depends on your own research and risk tolerance. -
Who created dYdX?
dYdX was founded by Antonio Juliano, a software engineer with a background at companies like Coinbase and Uber. He launched the platform to provide a decentralized alternative for trading derivatives. The project was introduced in 2021 and operates as a key protocol within the decentralized finance (DeFi) sector. -
What is the all-time high price of DYDX?
The all-time high price for DYDX was $4.53, a milestone reached on March 7, 2024. This represents the peak valuation the token has achieved since its launch. Price movements are influenced by a variety of factors, including overall market sentiment, platform usage, and developments within the DeFi ecosystem. -
Where can I buy dYdX?
You can buy dYdX on Switchere using a wide range of payment methods including credit cards, debit cards, Apple Pay, Google Pay, SEPA bank transfers, and supported digital wallets. The process typically completes within a few minutes after identity verification. -
Can I buy dYdX with a credit card?
Yes. Switchere supports dYdX purchases with Visa and Mastercard credit and debit cards. Card payments are protected by 3D Secure authentication and typically settle to your Switchere wallet within a few minutes of approval.
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