dYdX, a decentralized borrowing and lending platform based on the Ethereum standard, was founded in August 2017 by Antonio Juliano, a California-based entrepreneur. dYdX offers crypto asset holders borrowing, lending, and staking tools. Introduced as a solution to Ethereum’s scalability issue, dYdX is a Layer-2 solution. dYdX stands out as one of the largest decentralized exchanges in the world in terms of trading volume and market share.
DYDX is down 6.10% in the last 24 hours. According to data from Token Unlock, 6.52 million DYDX will be unlocked today (Tuesday, July 4). An increase in the circulating supply of a token may change its price. The upcoming token unlock may have adversely affected the price of DYDX.
