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Investors Flock to the DEX dYdx with its Token with Rising by 50% after the Clampdown from China
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blockchain.newsSince last Friday, the People’s Bank of China began to crack down on cryptocurrency trading, a large number of Chinese traders seem to have turned their trading venues to dYdX — a decentralized leveraged trading exchange.
The trading activity of the centralized derivatives exchange dYdX has surged. According to cryptocurrency data provider CoinGecko, the trading volume of DYDX reached $1,217,300,925 within 24 hours, surpassing Coinbase’s spot market for the first time.
The token of Defi exchange dYdX also hit a record high of 21.80 today, rising by nearly 50% in 24 hours.
According to Coinmarketcap data, DYDX’s 24-hour trading volume increased by 196.28%. At the time of writing, dydx is trading at $21.43.
In yesterday’s Twitter,
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