Dydx Trading Volumes Explode After Latest Chinese Crypto Ban
Dydx, a decentralized exchange, has seen its trading volumes explode in the last few days, surpassing other recognized decentralized exchanges like Uniswap and Pancakeswap. Some analysts have suggested this might be the result of the latest Chinese cryptocurrency ban causing China-based users to move their trading activities to these platforms. Dydx Bursts With Activity Dydx, a decentralized exchange that, unlike other similar platforms, offers an order book, has been bustling with activity during the last few days. The activity in the decentralized exchange has grown enormously,....
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Phemex, one of the globe’s most prominent crypto trading and investment platforms has further expanded its offering by listing three popular crypto assets. In its latest announcement, the platform stated that spot trading for Shiba Inu (SHIB), dYdX (DYDX) and Fantom (FTM) goes live on Nov 26, 2021. The trio, SHIB, DYDX and FTM have […]
The DYDX governance token becomes the latest airdrop to surpass $100,000 for the most active users, and the DEX's transaction volumes highlight the rising popularity of layer-2 platforms. Airdrops have been a fan-favorite in the cryptocurrency ecosystem for years because they offer projects a way to reward early adopters and increase token distribution. The latest project to surprise its community of supporters with retroactive rewards for its newly minted token is dYdX, a non-custodial decentralized derivatives exchange that operates on a layer-2 version of the Ethereum (ETH) network.Data....
Traders raised their bids for the decentralized exchange token, believing it would benefit from China's decision to classify all crypto transactions as "illegal." Decentralized exchange dYdX's native token DYDX surged by nearly 80% this week as traders assessed its potential against China's recent ban on crypto transactions.The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX decentralized exchange (DEX) that offers perpetuals, margin and spot trading, as well as lending and borrowing services....
Chinese traders appear to be flocking to derivatives DEX dYdX amid concerns over a renewed crypto crackdown in China. Decentralized derivatives exchange dYdX has seen a surge in trade activity as concerns surrounding a renewed Chinese crypto crackdown have circulated this year, with the DEX now processing more volume than Coinbase's spot markets for the first time.According to CoinGecko, dYdX has facilitated more than $4.3 billion worth of trades in the past 24-hours, beating out Coinbase $3.7 billion in volume by nearly 15%. DYdX founder and former Coinbase employee Antonio Juliano....
Lately, Bitcoin has been gaining momentum while the trading volumes have been growing like never before. Currently, China is leading the digital currency exchange Industry by having one of the largest concentrations of cryptocurrency exchanges and where the highest bitcoin trading volumes can be found. Most of the Chinese Bitcoin exchanges have large trading volumes. Besides the high trading volumes, some of the possible motivations leading newcomers to use Chinese exchanges are the low fees and other benefits (such as referral programs that offer up to 50%) which many Chinese exchanges....