dYdX describes itself as a leading decentralized platform for trading crypto perpetual futures contracts. Its pages make no dated promises we could check. It trades at $0.1113, #285 of all coins by size, 98% below its highest ever price.
This week Nothing changed on its record.
A real job, real backing. No dated promises on its pages. Nothing dated ahead. Biggest of 9 appchains. Nothing to be careful of on the record.
Is it real?
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2 of 4
- ✓A real-world jobReal-world purpose: trading without a middleman
- ✓Real backingBacking: backed by DragonFly Capital; in the GMCI Index; trades on Binance, OKX, KuCoin
- –Something aheadA dated step, deliveries on record, or demand showing up in the news.
- –Room to growWorth at least four times less than the biggest coin doing the same job, so the gap is real, not a guess.
Backed by DragonFly Capital and 2 more
- Origin7 March 2024about about 2 yearsFrom US (CoinGecko)dydx.trade, GitHub
- DevelopersNot namedNeither Wikidata nor its listing names the foundersCode activity not checked
- BackingDragonFly Capital, Andreessen Horowitz (a16z), Polychain CapitalInvestor tags from CoinGeckoIndex: GMCI IndexListed on Binance, OKX, KuCoin
- Standing on the recordNo recordNo dated promise to judge yet8 headlines last month, 1 about government29,637 people keep it on a CoinGecko watchlistNo corrections needed so far
Four tests, printed. Passing all four means a real job, real backing, something ahead, and a price far below the leader of its group. A filter on facts, never a verdict.
Every line has a source: the coin's own listing, CoinGecko's tags, the record, or the news feed. Reputation here is a count, never an opinion.
Does it deliver?
No dated promise has been found on the pages this project publishes. Its pages are saved every night, so anything it commits to from now on appears here.
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Every line is quoted from the project's own pages, with the copy we stored and, where one exists, the article that reported it
What is next, and when?
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Nothing dated
The project has not put a date on anything still open. That is a fact worth knowing.
How big is it next to its rivals?
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Only coins within a hundred times its worth; a coin a thousand times bigger is another world
Trading without a middleman
121 coins tagged Decentralized Exchange (DEX), worth $32.69B together. #19 of 121 by worth.
Appchains: this coin against its direct competitors
- CoinWorth, as a barWorthAgainst this coinToday, and the gapSupplyPromises
dYdX$94.15Mthis coin−2.4%85% outnone dated
Geode Chain$27.82M3.4× smaller, −$66.32Mno maxno record
Cartesi$23.79M4.0× smaller, −$70.36M−1.7%, gap +0.795% outno record
ivault$8.91M10.6× smaller, −$85.24M−0.1%, gap +2.362% outno record
Saga$7.75M12.1× smaller, −$86.39M+6.3%, gap +8.7no maxno record
CONX$4.87M19.3× smaller, −$89.28M−2.6%, gap −0.251% outno record
Syndicate$4.51M20.9× smaller, −$89.63M−15.7%, gap −13.348% outno record
PlatON Network$3.34M28.2× smaller, −$90.8M+2.2%, gap +4.6no maxno record
Appchains: this coin next to Geode Chain, the biggest rival within reach. People go to the bigger coin unless the smaller one does something it does not.
- dYdX says
- dYdX describes itself as a leading decentralized platform for trading crypto perpetual futures contracts.
- Geode Chain says
- Geode Chain is an independent layer one chain plus a native suite of decentralized apps designed to make the entire decentralized world accessible to everyday people.
Two claims, side by side, in their own words. Whether the difference is real is for the record to show over time, and for you to judge.
dYdX describes itself as a leading decentralized platform for trading crypto perpetual futures contracts.
Its listing puts it this way: dYdX is DeFi’s pro trading platform and a pioneer in decentralized finance, known for being the first to offer decentralized margin trading and derivatives, as well as inventing flash loans and DEX aggregators in 2018.
Problem it says it solves: trading without a middleman. 121 coins are working on it and together they are worth $32,689,035,928. This coin is 0% of that.
Each bar is a coin's worth today (price × coins out), longest first. The lit bar is this coin; grey bars are the others doing the same job.
Bars are market cap. Order is size, nothing else. Differences are measured from the coin you are looking at.
What should make me careful?
Nothing printed today
None of the six tests fails. A missed promise counts only on a record a person has checked.
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The tests: nothing to hold it for, more missed than delivered, priced ahead of its record, half the supply still to come, rivals ship while it does not, a big release of coins soon.
The homework: the coin itself, the news, the record
The coin itself
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The last 7 days
Where today sits against its highest ever price
Highest ever: $4.52 on 7 March 2024. Today is 2% of that.
85%
of all DYDX that will ever exist is already out in public hands: 846.09M coins.
15% (153.91M coins) is not yet created or held by the project. That is a small share. Those coins can be sold later, which can push the price down.
out held back. Each dot is 1%.
Perks on its own exchange
Fee discounts and access on the exchange that issued it. Its demand follows that exchange.
- Fee discounts and access on the exchange that issued it
- A vote on how the project is run
That is all a market cap is: today's price times the coins in public hands. It moves every time the price does. It says what buyers are paying, not what the coin is worth.
- of the maximum supply is in circulation: 846.09M of 1B.
- 153.91Mcoins still to be released, 15% of the maximum. Releases can add selling pressure.
- 1.1×fully diluted value versus today's market cap. The gap is coins not yet released.
- of its all-time high of $4.52 on 7 March 2024. That is −97.5% from the top.
- #285by market cap, $94,146,384.
- Not checkedwho holds the most coins, and how much has been burned. Those need on-chain data this site does not read yet.
Supply and value figures from CoinGecko, refreshed hourly. Not part of the record.
- $69.82M is locked in apps built on it right now
From DefiLlama, refreshed nightly. Fees are what people paid to use the thing; value locked is what they trust it to hold. Facts, not a score.
What the news says
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Headlines per day, last 30 days
8 headlines named this coin in the last month.
What they were about
- Price2
- Treasury1
- dYdX Foundation CEO Says A Bear Market Won't 'Scare' Him As Institutions, Governments Shift Behavior
- DYdX Brings Spot Trading to America While Perpetual Contracts Remain Unavailable
- DYdX Brings Spot Trading to America While Perpetual Contracts Remain Unavailable
- DYDX Leads Altcoin Surge with 30% Gains - Can the Rally Continue?
- DYdX Brings Spot Trading to America While Perpetual Contracts Remain Unavailable
- Price of dYdX (DYDX) today in EUR – Quote and market trends
- 0.11465 Trade DYDX/USDT Spot | Crypto, bStocks & tCommodities
- Kevin Warsh Confirmed as Fed Chair With Crypto Holdings on RecordGovernment
8 headlines in the last month.
Headlines are the publishers' own. News is never placed next to price.
The record itself
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Six facts, the project's own replies, its peers, contract facts, references and every stored copy
dYdX describes itself as a leading decentralized platform for trading crypto perpetual futures contracts.
“dYdX | Leading Decentralized Platform for Crypto Perpetual Trading”source · snapshot · captured 2026-09-14
Live. The record does not yet cite when this stage began.
No dated or committed promises have been recorded yet.
Others in decentralised exchanges: Synthetix 6 of 11, XRP 2 of 3, Fluid 0 of 7, Stellar 0 of 20, and 1 more.No public code repository is listed in this record.
The project's blog page last changed on 14 September 2026.
Nothing further to flag from the record as it stands.
This record was drafted by a machine from captured pages and has not yet been checked by a person. Treat every line as unverified until that note changes.