DYDX (dYdX) is the governance token for the layer 2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It serves to facilitate the operation of layer 2 and allows traders, liquidity providers and partners to contribute to the definition of the protocol's future as a community.
DYDX did not have a significant reduction in value during the two occurrences of significant Bitcoin price decreases in September 2021. DYDX also managed to double its value in a little over a month, rising from $10.23 to $22.66. Given that dYdX is currently one of the most well-known decentralized exchanges in the crypto industry, its freshly issued governance token has a high possibility of maintaining its price growth and eventually reaching $50.
DYDX did not have a significant reduction in value during the two occurrences of significant Bitcoin price decreases in September 2021. DYDX also managed to double its value in a little over a month, rising from $10.23 to $22.66. Given that dYdX is currently one of the most well-known decentralized exchanges in the crypto industry, its freshly issued governance token has a high possibility of maintaining its price growth and eventually reaching $50.