dYdX native token surpasses $3 as it becomes top DEX by daily volume
The DYDX token, native to dYdX Chain, has surged above $3 for the first time this year, as the platform became the largest DEX by daily volume. Its v4 version, based on Cosmos, achieved a 24-hour trading volume of nearly $565.85 million, surpassing Uniswap v3's Ethereum market. The most traded pairs include Ethereum/USD, Bitcoin/USD, and Solana/USD, with volumes of $155 million, $131 million, and $91 million respectively. The platform reached a $1 billion milestone in 24-hour trading volume within two months of activating Full Trading. Despite a previous dip to $2.36, the token's value has risen by over 10% in the past week. However, potential challenges may arise from a looming sell pressure of approximately $2 million worth of assets poised to be unlocked in the coming week.
