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View ChartdYdX (ethDYDX) is the ERC-20 governance token for the dYdX protocol, a decentralized exchange focused on perpetual futures and derivatives trading. ETHDYDX operates on the Ethereum blockchain and represents the Ethereum-wrapped version of the native dYdX token, designed for compatibility with the broader Ethereum DeFi ecosystem. The token grants holders governance rights within the dYdX protocol, allowing them to participate in key decisions that shape the platform's future. With a total supply of 1 billion ETHDYDX tokens initially minted in August 2021, the token was distributed over a five-year accessibility period. The project is currently in a transitional phase, with a migration process underway from Ethereum to the dYdX Chain.
dYdX was founded in July 2017 by Antonio Juliano, a US-based entrepreneur and experienced programmer with a background in blockchain technology. Before founding dYdX, Antonio Juliano worked as a software engineer at Coinbase. He served as the founder and CEO of dYdX Trading Inc. In May 2024, a blog post titled "My next step: Founder, not CEO" signaled a leadership transition within the organization. The project has attracted significant backing from major investors including Bain Capital Ventures, DeFiance Capital, Polychain Capital, and Delphi Digital. Altogether, the project has raised more than $87 million in funding, reflecting strong institutional confidence in its vision for decentralized derivatives trading.
The dYdX protocol operates as a decentralized exchange that uses smart contracts on the Ethereum blockchain to facilitate perpetual futures trading without intermediaries. The Layer 2 protocol utilizes StarkWare's StarkEx scalability engine, which employs a form of zero-knowledge rollup technology called zkSTARKS to increase transaction speed, eliminate gas costs, reduce trading fees, and lower minimum trade sizes compared to Ethereum mainnet. This architecture allows the protocol to deliver a highly scalable and low-cost trading experience. In June 2022, dYdX Trading Inc. announced the next iteration of the protocol, the dYdX Chain, a sovereign proof-of-stake blockchain network based on Tendermint consensus and built using the Cosmos SDK. The migration from Ethereum to the dYdX Chain involves a wethDYDX smart contract that locks ethDYDX tokens and mints a 1:1 wrapped version, with validators distributing corresponding DYDX tokens on the new chain.
dYdX distinguishes itself through its advanced scaling technology and its focus on perpetual futures and derivatives trading. The protocol offers more than 20 times more buying power compared to traditional platforms and supports margin trading for major assets including BTC, DOT, SOL, and ETH. Since its launch, dYdX has served more than 64,000 traders with more than $11 billion in volume. The protocol is permissionless, decentralized, and disintermediated, making it accessible to users who prioritize self-custody and transparency. The use of zkSTARKS technology enables instant trade completion at minimal cost, which is particularly attractive to active crypto traders. The dYdX Community Treasury, holding approximately 190 million DYDX tokens, further strengthens the ecosystem by funding community-driven initiatives and development.
ETHDYDX serves multiple functions within the dYdX ecosystem. Its primary utility is governance, allowing holders to propose changes to the protocol, vote on improvement proposals, influence parameter adjustments such as fee structures, and determine protocol upgrades and new features. Token holders may also qualify for discounted trading fees based on the number of coins they hold. ETHDYDX enables interoperability between the dYdX Chain and the Ethereum ecosystem, allowing users to utilize their tokens within Ethereum-based DeFi protocols, bridge assets between chains, and access liquidity pools and swap functionality. Additionally, the token serves as a basis for community governance and rewards liquidity mining activities, staking, safety staking, and trading fees. The dYdX Community launched its first DYDX Buyback Program in March 2025, allocating 25% of net protocol fees to monthly buybacks.
The dYdX ecosystem is undergoing a significant transformation with the migration from Ethereum to the dYdX Chain. As of recent reports, approximately 75% of all ethDYDX has already been bridged over and converted into the new DYDX token. However, the migration process has not been without challenges. On December 7, 2024, the dYdX Community voted to cease dYdX Chain support for the wethDYDX smart contract by June 2025, and on June 13, 2025, the community effectively ceased support for the Bridge. As a result, 41.7 million ethDYDX remained unbridged as of the effective Bridge closure, and unbridged ethDYDX tokens now lack any effective utility. The dYdX v3 Product Sunset has further impacted the token's functionality. The ecosystem continues to evolve with the dYdX Chain operating as a sovereign Layer 1 blockchain, and the community actively participating in governance decisions that shape the protocol's future direction.
ETHDYDX does not support traditional mining as it is not a Proof-of-Work cryptocurrency. Instead, the token distribution follows the governance model of the dYdX protocol with predefined allocation parameters. While direct staking of ETHDYDX on the Ethereum chain differs from native dYdX token staking, ETHDYDX holders can participate in liquidity provision on various Ethereum-based DEXs, convert ETHDYDX to the native dYdX token to access official staking programs, and utilize yield farming opportunities on DeFi protocols that support ETHDYDX. Holders of the native DYDX token on the dYdX Chain can stake their tokens to validators or run a validator node to participate in securing the network and earn a share of protocol fees generated on the chain.
Keeping your ETHDYDX tokens safe requires adherence to established cryptocurrency security practices. Given that ETHDYDX operates as an ERC-20 token on Ethereum, users should store their tokens in reputable wallets that support ERC-20 assets, such as hardware wallets for maximum security or well-established software wallets for everyday use. Always verify contract addresses before interacting with any smart contract, and be aware that any ethDYDX tokens sent to the wethDYDX Smart Contract after the Bridge closure will be permanently locked with no DYDX tokens credited. Users should exercise caution when participating in DeFi protocols and only interact with audited platforms. Keeping private keys secure, enabling two-factor authentication where available, and staying informed about governance decisions that may affect token utility are essential steps for protecting your holdings. Regularly reviewing official dYdX Foundation communications and community channels can help users stay updated on important developments.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for ETHDYDX are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of dYdX (ethDYDX) (ETHDYDX) is $0.14689. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated ETHDYDX to USD rate at the top of BTCC’s price page. In terms of market scope, dYdX (ethDYDX) records a 24h trading volume of $6.625899M (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $6.199832M. Its current circulating supply stands at 41.66M out of a maximum supply cap of ∞.
The price volatility of dYdX (ethDYDX) (ETHDYDX) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (41.66M) to max supply (∞), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, dYdX (ethDYDX) (ETHDYDX) hit an all-time high (ATH) of $27.778797 on 2021-09-30 01:25, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at -- on 2021-09-08 09:20. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading ETHDYDX futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($6.625899M), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s ETHDYDXUSDT perpetual contracts support two-way trading. If you anticipate a price decline for dYdX (ethDYDX), simply log into your BTCC account with USDT margin available, navigate to the ETHDYDXUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for ETHDYDXUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $0.14689), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for ETHDYDXUSDT with zero financial risk.
Trading dYdX (ethDYDX) (ETHDYDX) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for ETHDYDXUSDT, and review its live price ($0.14689) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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