What dYdX governs
dYdX is a DeFi protocol governance token, currently ranked 139th by market capitalization among the assets we track. dYdX sits at the center of a decentralized-finance application. The token coordinates governance, sometimes routes protocol revenue to holders, and ties its value to how much the underlying protocol is actually used.
DYDX is a decentralized trading platform that enables users to trade cryptocurrencies with advanced features such as margin and perpetual trading. It is powered by the Ethereum blockchain, ensuring transparency and security.
How value is supposed to accrue
DeFi tokens are worth something when the protocol generates fees and routes value to holders — through revenue share, buybacks, or governance over a real treasury. Without that link, a governance token is just a vote.
DYDX is not mined; it is issued as a token rather than secured by its own mining or staking layer.
Background & fundamentals
dYdX first went live in 2021, giving it roughly 5 years of on-chain price history to draw on. CoinPaprika classifies the project's development status as "Working product". In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), Exchange, and DeFi.
Where dYdX sits in the market
At $0.1852, dYdX carries a market capitalization of $144.95M. Around $23.10M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 15.93% of the float — elevated, often a sign of narrative-driven trading.
Measured from its all-time low of $0.0727, DYDX is up +155%.
What the price history shows
The tape currently reads 24-hour +17.47%, 7-day +31.07%, 30-day +19.71%, 1-year -70.26%. Within its stored 365-day daily history, DYDX mounted a low-to-high run of roughly 143% at its strongest stretch.
Volatility profile
Recent action puts dYdX in the Extreme-volatility band — it is in a high-volatility regime — these are the conditions where outsized gains and losses both become more likely. Over the last 30 days the move totals +19.71%, a useful input for stop placement and position sizing.
How to evaluate a DeFi token like dYdX
A grounded read on DYDX comes down to three questions:
- Protocol revenue — fees the application actually earns, and whether any of it reaches DYDX holders.
- Total value locked — how much capital trusts the protocol — and how sticky it is versus mercenary yield.
- Token utility — whether DYDX is load-bearing (governance over real value, fee rights) or decorative.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
