Sharing a wealth secret with everyone: DYDX Currently, it has basically completed the bottoming process, making it a good time to accumulate on dips.
Next, I will conduct research on DYDX for everyone.
Project Introduction dYdX is the world's first decentralized digital currency derivatives trading platform. The platform aims to establish more open, transparent, and secure financial products through decentralized technology, and will develop regulatory-compliant methods on its platform. dYdX's open protocol is based on 0x and Ethereum, driven by smart contracts. In the DeFi derivatives trading protocol, dYdX differs from other common AMM models by adopting a relatively traditional order book model, providing users with top-tier order types. On August 30, 2021, dYdX's trading volume in the last 24 hours surpassed $1.04 billion, exceeding PancakeSwap V2 and Uniswap V3, ranking first in the DEX trading volume leaderboard.
Recent major positive news about DYDX is reported as follows: 1️⃣ dYdX announced the addition of support for the COOKIE market. 2️⃣ According to official news, the dYdX Foundation has initiated a vote to let the community decide whether to upgrade the dYdX Chain software to v8.0. 3️⃣ dYdX 2024 Annual Ecosystem Report: Trading volume reached $270 billion, with the community distributing $63 million in trading rewards.
From the technical analysis of DYDX, it has basically completed the bottoming process, with multiple tests challenging the support level around $0.9 to $1. It has dropped to the price at which it was initially listed on exchanges, which is a decrease of 27 times compared to the previous bull market high.
The ecological development of DYDX is quite good. Personally, I believe that as an ecological token, dydx still has considerable room for upward movement in the future. Therefore, it is advisable to accumulate on dips, hold patiently, and wait for a rebound!
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