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Dydx

DYDX

DYdX

DYDX

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₹191.83

LIVE

24H Low ₹185.57

24H High ₹200.22

Price of DYDX today

The current live price of DYDX today is ₹191.83, with a 24-hour trading volume of ₹6,36,97,35,389.55. Our DYDX to INR price is updated in real-time. DYDX has seen a decrease of -1.91% in the last 24 hours. With a live market cap of ₹1,22,73,58,30,802.92 , the circulating supply is at 643,931,707 DYDX coins, with a maximum supply of 770,455,822DYDX coins.

DYdX Price History

Date ComparisonAmount Change% Change
Today-₹4.70

2.39%

7 Days-₹22.45

10.48%

30 Days₹89.12

86.74%

1 Year-₹93.51

32.77%

DYdX Price Information

Price Change (1hr)

3.02%

Price Change (24hr)

2.39%

Price Change (7d)

10.48%

dYdX Market Stats

Market Cap

₹1,22,73,58,30,802.92

Fully Diluted Market Cap

₹1,46,85,18,08,027.88

24hr Volume

₹6,36,97,35,389.55

30.68%

Circulating Supply

643931707.21 DYDX

Total Supply

770455822.33 DYDX

Things to know about DYdX

1. What is the Token?

  • dYdX (DYDX) serves as a governance token for the dYdX trading platform, focusing on derivatives and perpetual contracts in a decentralised exchange environment.

  • It grants the dYdX community governance rights, allowing for shared decision-making on the platform's development.

  • Originally built on Ethereum, dYdX has transitioned to its own blockchain using the Cosmos SDK for better scalability and performance.

2. Tokenomics

  • The distribution of DYDX tokens is designed to support the ecosystem's growth and decentralisation.

  • DYDX tokens are allocated as follows: 27.7% to investors, 14.5% for user trading rewards, 15.3% to employees and consultants, 5.0% for retroactive rewards, 5.2% to liquidity providers, 7.0% to future staff, 24.2% to the community treasury, 0.6% to liquidity staking, and 0.5% to safety staking.

3. Market Data

As of today 14 December 2024, the price of DYdX is ₹191.83 INR, with a 24-hour trading volume of 70151270.81 USD. The market capitalisation for DYdX is 1351716198.27USD. The circulating supply is 643931707.21 DYdX, with the total supply also being 770455822.33 DYdX.

4. Token Pros and Cons

Pros:

  • The dYdX platform offers governance and decision-making capabilities to its token holders, empowering them to influence the platform's future direction.

  • It includes staking rewards and trading fee discounts, providing financial incentives for user participation and investment.

  • The migration to the dYdX Chain enhances the platform's scalability and reduces trading fees, improving the overall trading experience.

Cons:

  • The tokenomics of dYdX have faced criticism for being perceived as favouring insiders, raising concerns about fairness and equity in token distribution.

  • dYdX offers a limited variety of assets for trading compared to some centralised exchanges, potentially limiting its appeal to a broader audience of traders.

5. Why Should You Invest in the Coin?

  • Investing in DYDX is attractive for its governance capabilities, staking rewards, and the platform's innovative approach to decentralised trading, with potential growth from its migration to the dYdX Chain.

6. USP of the Coin

  • DYDX's USP lies in merging decentralised governance and centralised trading functionalities like perpetual contracts on its proprietary blockchain for improved scalability and cost efficiency.

7. Problem the Coin is Solving

  • DYDX addresses the challenges of decentralised exchanges, such as high fees and slow transactions, by moving to its blockchain and enabling community decentralisation.

8. Founder and Team Background

  • Founded by Antonio Juliano, dYdX is led by a team with strong backgrounds in blockchain, finance, and software development dedicated to DeFi innovation.

9. ICO Price

  • Investing in dYdX (DYDX) during its initial coin offering (ICO) carried a price of approximately $10.33 per token.

10. Risks Associated with Investing in the Coin

  • Market Volatility:

  • The value of DYDX is highly volatile, akin to other cryptocurrencies. This volatility can result in substantial price changes in a brief timeframe, affecting the investment's stability and predictability.

  • Regulatory Risks:

  • Changes in regulations or direct interventions by governmental bodies in the cryptocurrency space can significantly influence the operation and valuation of DYDX, potentially affecting its legality and functionality.

  • Security Vulnerabilities:

  • Security risks persist despite measures such as smart contract audits and establishing an insurance fund to safeguard against unexpected losses. Smart contracts, fundamental to dYdX's operations, are susceptible to vulnerabilities.

  • Audit Limitations:

  • While smart contract audits aim to identify and mitigate risks, they do not completely eliminate the possibility of security breaches. The complex nature of smart contracts means that some risks may remain undetected until exploited.

  • Technology Dependence:

  • The operation of DYDX is deeply reliant on technology, making it vulnerable to technical failures. This includes everything from blockchain infrastructure to user interfaces, where any malfunction can disrupt services.

  • Cybersecurity Threats:

  • The digital nature of DYDX exposes it to potential hacking attempts and other cyber threats. Despite security protocols, the risk of digital theft and data breaches remains a significant concern for investors.

  • Investment Uncertainty:

  • Given the combination of these factors, investing in DYDX carries a degree of uncertainty. Potential investors must carefully consider these risks, along with their personal risk tolerance and investment goals, before committing funds.

11. Whitepaper Insights

The dYdX platform aims to create a decentralised, secure, and scalable solution for advanced trading operations, including perpetual contracts and margin trading. By leveraging blockchain technology and smart contracts, dYdX facilitates trustless transactions and offers users full control over their funds without intermediaries.

The introduction of the DYDX token is a pivotal development for the platform, serving multiple purposes: governance, staking, and incentivising participation. Token holders can propose and vote on changes to the protocol, participate in staking pools to earn rewards, and receive fee discounts, thereby aligning the interests of users, developers, and stakeholders.

The migration to the dYdX Chain represents a significant technological advancement, addressing scalability challenges and reducing transaction costs. This move is expected to enhance the platform's performance, attract more users, and increase the overall value locked in the protocol.

The whitepaper also outlines the tokenomics of DYDX, detailing the distribution of tokens to ensure long-term sustainability and growth. A significant portion of the tokens is allocated to the community treasury, supporting future development, grants, and rewards programs.

Security is a paramount concern for dYdX, with the platform undergoing rigorous audits and implementing state-of-the-art cryptographic techniques to safeguard users' assets. The governance model is designed to be transparent and inclusive, allowing the community to steer the project's direction effectively.

In conclusion, the dYdX whitepaper presents a comprehensive vision for a decentralised trading platform that combines advanced financial instruments with the benefits of blockchain technology. The introduction of the DYDX token and the migration to a dedicated blockchain are critical steps towards realising this vision, promising to enhance the platform's scalability, security, and user engagement.

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Price as per 07:55 PM • 14 Dec 2024

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What is the price of DYdX (DYDX)?

The current price of DYdX (DYDX) in INR is ₹191.83 INR.

What is the current DYDX market cap?

The current market capitalization of DYdX (DYDX) is ₹1,22,73,58,30,802.92 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of DYDX by the number of coins in circulation.

What is the current supply of DYdX (DYDX)?

The current supply of DYdX (DYDX) is 643931707.21 DYDX. This figure represents the total number of coins that have been mined and are currently in circulation.

What is the 24 trading volume of DYdX (DYDX)?

The 24-hour trading volume of DYdX (DYDX) in INR is ₹6,36,97,35,389.55. This figure represents the total value of all DYDX transactions across various exchanges within the last 24 hours.

How to Buy DYdX (DYDX) in India?

To buy DYdX (DYDX) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in DYDX.

Can I buy DYdX (DYDX) with UPI?

Yes, you can buy DYdX (DYDX) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.

How to Convert DYdX (DYDX) to Indian Rupee (INR)?

To convert DYdX (DYDX) to Indian Rupee (INR), you can use our DYDX/INR conversion rates in real time.

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