Buy dYdX (ETHDYDX)
What is dYdX?
dYdX is a decentralised exchange (DEX) that offers advanced trading features, such as perpetual futures trading, margin trading, and lending services. It's powered by smart contracts on the Ethereum blockchain, and there are plans to migrate to its own dYdX Chain network.
How does dYdX work?
dYdX operates on the Ethereum network, utilising smart contracts to enable decentralised and permissionless trading. The platform is transitioning to its own blockchain, known as the dYdX Chain, designed for enhanced decentralisation and scalability. It utilises a Proof of Stake (PoS) consensus mechanism, where validators leverage a weighted-round-robin approach to produce new blocks.
What are the potential use cases for dYdX?
dYdX serves various use cases within the cryptocurrency and decentralised finance (DeFi) sectors. It offers sophisticated tools for professional trading, such as leveraged positions and margin trading, while supporting the broader DeFi ecosystem with lending and borrowing services. It also broaden crypto markets with support for over 143 trading pairs.
What is the history of dYdX?
Founded by Antonio Juliano in 2017, dYdX began as a decentralised exchange offering margin trading, lending, and borrowing over Ethereum. Significant milestones include a $65 million Series C fundraising round in 2021 and the launch of the dYdX Chain in 2023. Over the years, it has evolved technologically and established a strong market presence, becoming a key player in on-chain perpetual futures trading.
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Frequently Asked Questions (FAQs)
What is the current price of dYdX (ETHDYDX)?
The dYdX price is $2.5051 AUD, representing a +16.47% from the day prior.
Where is the best place to buy dYdX (ETHDYDX) in Australia?
The best place to buy dYdX (ETHDYDX) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell dYdX (ETHDYDX) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of dYdX (ETHDYDX)?
The trading volume of dYdX (ETHDYDX) is $157.8M AUD in the last 24hrs, representing a +16.47% from the day prior.
How can I buy dYdX (ETHDYDX)?
dYdX (ETHDYDX) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of dYdX (ETHDYDX)?
The current market cap of dYdX (ETHDYDX) is $1.1B AUD.
Can I convert dYdX (ETHDYDX) to cash?
Yes - With Coinstash you can convert your dYdX (ETHDYDX) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many dYdX (ETHDYDX) are there?
The current circulating supply of dYdX (ETHDYDX) is 449.5M.
Is Coinstash a safe place to buy dYdX (ETHDYDX) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling dYdX (ETHDYDX) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.