 in the coming years. Will dYdX become a good investment? Find out here.Category: Price Prediction){kind=link}
- DYDX (dYdX) price prediction ranges from $0.969 to $3.5.
- Analysis suggests that the dYdX price might reach above $ 6 soon.
- The dYdX bearish market price prediction for 2022 is $0.969
Apart from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and gain experience with new cryptocurrencies. DYDX (dYdX) is one of them.
To trade prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA), among others, dYdX is a decentralized exchange (DEX) platform that allows trading at all times (ADA). It is among the largest decentralized exchanges worldwide regarding trade volume and market share.
If you are interested in the future of dYdX and want to know its predicted value for 2022, 2023, 2024, 2025, and 2030 – keep reading!
What is DYDX (dYdX)?
DYDX (dYdX) is the governance token for the layer 2 protocol of the eponymous decentralized non-custodial cryptocurrency exchange. It facilitates layer 2 operation and lets traders, liquidity providers, and partners participate in the protocol’s evolution as a community.
Token holders can suggest improvements to the dYdX’s layer 2. Moreover, Token holders have the option to profit from token staking and trading fee savings. Layer 2 is utilized for trading cross-margined perpetual on the platform and is built on Starkwire’s StarkEx scalability engine. The scaling approach enables dYdX to boost transaction speed, remove gas expenses, minimize trading fees, and lower the protocol’s minimum trade size.
dYdX is an open-source platform with smart contract capability that allows users to lend, borrow, and exchange crypto assets. Although dYdX enables spot trading, the platform’s primary focus is derivatives and margin trading. DYDX operates as an ERC-20 token on the Ethereum network. Starkwire’s ZK-STARKS is the basis for dYdX’s layer two scaling solutions, which use the Ethereum blockchain to validate transaction proofs.
By employing a zero-knowledge roll-up method called zkSTARKS, dYdX Layer 2 makes the network scalable. The system accepts proofs while validating off-chain transactions in bulk. These proofs are then returned to the blockchain, where a smart contract checks its validity.
To show its gratitude to its past users and encourage them to trade on its layer two protocol, dYdX has introduced retroactive mining prizes in addition to trading and liquidity provider payments. Token owners can wager their assets in dYdX’s secure and liquid markets. Whereas the safety pool mitigates the platform’s shortfall risk, the liquidity pool is used to bring in top-tier market makers.
DYDX (dYdX) Current Market Status
At the time of writing, DYDX (dYdX) is now trading at $1.58 with a total market capitalization of $101,459,592.90. DYDX sits at 182nd place on CoinMarketCap in terms of market capitalization. Moreover, there has been a price change of 5.42% increase in the past 24 hours. DYDX’s 24-hour trading volume is $63,760,530.17, with a rise of 37.15%.
DYDX can be traded on major cryptocurrency exchanges such as Binance, Gate.io, FTX, Huobi Global, and KuCoin.
DYDX (dYdX) Price Analysis 2022
Will DYDX’s (dYdX) most recent improvements, additions, and modifications help the dYdX price rise? First, let’s focus on the charts in this article’s dYdX price forecast.
DYDX (dYdX) Price Analysis – Keltner Channel
The Keltner Channel may be used to identify a trend when the asset’s price is plotted between two volatility bands. DYDX(dYdX) price may be predicted using Keltner Channel indications for dYdX/USDT. DYDX is in the first half of the Keltner Channel, meaning that more investors are buying DYDX rather than unloading. Waiting for a few retrace candlesticks can increase the reward-to-risk ratio and provide investors with a better risk-free situation.
DYDX (dYdX) Price Analysis – Relative Strength Index
The value of the 1-day chart is 75.15. At the time of writing, the RSI value is above 50, indicating more sellers are buying dYdX rather than selling it according to the RSI indicator reading. But for a better risk-to-reward ratio, investors should consider a few confirmation candlesticks and patterns before investing or entering the trade.
DYDX (dYdX) Price Analysis – Moving Average
Above is a 1-day DYDX (dYdX), 200-day, and 50-day Moving Averages (MAs) chart. The chart above shows that dYdX has traded below the 200-day moving average and 50-day moving average.
However, the distance between the two moving averages is getting smaller, and dYdX is slowly crossing the 50-day moving average. It suggests that dYdX is actively working to recover from the current crypto winter and resume its upward movement. Investors might improve their risk-to-reward by waiting for a few confirmation candles and patterns before making a trade.
DYDX (dYdX) Price Prediction 2022
The daily chart of dYdX/USDT shows that dYdX is now trading inside an expanding triangle. However, if dYdX breaks out of the expanding triangle and rises higher, it can reach its previous resistance level of $2.277. Therefore, DYDX (dYdX) price prediction for 2022 is still bullish.
DYDX (dYdX) Price Prediction – Resistance and Support Levels
Looking at the DYDX 1 Day chart, the price of DYDX has been decreasing over the past months since October 2021. Moreover, DYDX has been fluctuating between $1.15 to $1.6 within the previous 30 days. If DYDX tends to fall deep, DYDX might reach the last level support of $1.156, and breaking that support level might lead to $1.003.
Another possibility is that the bulls are able to gain their footing in this current bearish market and lift dYdX price higher, dYdX can reach the previous resistance of $1.786.
DYDX (dYdX) Price Prediction 2023
There is a chance that DYDX’s RSI will be above 70 by the end of 2022, indicating a strong bullish trend that should see prices over $2.5 by 2022. Therefore, we should anticipate a minimum dYdX price increase of $6.895 by the end of 2023.
DYDX (dYdX) Price Prediction 2024
In 2024, the Bitcoin supply will be cut in half. As a result, we should predict a bullish market trend due to user emotion and investors’ desire to accumulate more of the coin. With Bitcoin’s price fluctuations influencing the value of other cryptocurrencies, we may assume that dYdX will be valued at least $10.560 by the year 2024.
DYDX (dYdX) Price Prediction 2025
If most cryptocurrencies can overcome psychological obstacles following Bitcoin’s price halving in 2024, we may anticipate that dYdX will trade at a premium to its price in 2024. Consequently, dYdX may be valued at around $16.486 by the year 2025’s end.
DYDX (dYdX) Price Prediction 2026
As more and more institutional investors flock to the dYdX platform, the cryptocurrency price will likely fall after a prolonged bull run ends in 2026. It would be a significant reversal of the trend, suggesting that the price of dYdX may reach $20.706 by 2026, even though the coin has generally depreciated during the same period.
DYDX (dYdX) Price Prediction 2027
Bitcoin’s halving in 2028 is expected to spark a bull market. As a result, if investors are optimistic, the price of dYdX might continue rising and perhaps break over certain previously established psychological limits. The price of DYDX (dYdX) could reach $26.076.
DYDX (dYdX) Price Prediction 2028
Bitcoin will be halved in 2028. So, a bullish run could happen before the market settles down in 2027. As a result, dYdX’s potential ATH value of $32.905 by 2027’s end is not out of the question.
DYDX (dYdX) Price Prediction 2029
By 2029, most cryptocurrency values may have been steady for almost a decade, thanks to the usage of lessons learned to assure investors’ continued faith in the project. The price of dYdX may reach $36.471 by 2029 due to this effect and the subsequent price increase that occurs a year after Bitcoin’s price halves.
DYDX (dYdX) Price Prediction 2030
The cryptocurrency market was stable because early investors held on to their assets so they wouldn’t miss out on future price gains. By the end of 2030, the price of DYDX (dYdX) could be around $41.592, despite the bearish market that followed a market boom in the early years.
Conclusion
dYdX might reach $2.5 in 2022 and $41.592 by 2030 if investors decide that dYdX is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
DYDX (dYdX) is the governance token for the layer 2 protocol of the eponymous decentralized non-custodial cryptocurrency exchange. It facilitates layer 2 operation and lets traders, liquidity providers, and partners participate in the protocol’s evolution as a community.
Token holders can suggest improvements to the dYdX’s layer 2 and the option to profit from token staking and trading fee savings. Layer 2 is utilized for trading cross-margined perpetual on the platform and is built on Starkwire’s StarkEx scalability engine. The scaling approach enables dYdX to boost transaction speed, remove gas expenses, minimize trading fees, and lower the protocol’s minimum trade size.
dYdX can be traded on many exchanges like other digital assets in the crypto world. Binance, Gate.io, FTX, Huobi Global, and KuCoin are currently the most popular cryptocurrency exchanges for trading dYdX.
Since dYdX provides investors with several opportunities to profit from their crypto holdings, it seems to be a good investment in 2022. Notably, dYdX has a high possibility of surpassing its current ATH in 2028.
There aren’t many crypto assets still appreciating in value, but dYdX is among the ones rising in value. As long as this bullish trend continues, dYdX might break through $2.5 and reach as high as $6. Of course, if the current market favoring crypto continues, it will likely happen.
dYdX is expected to continue its upward trend as one of the fastest-rising cryptocurrencies. We may also conclude that dYdX is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.
dYdX was launched in 2019.
Antonio Juliano co-founded dYdX.
The maximum supply of dYdX is 1,000,000,000 dYdX.
dYdX can be stored in a cold wallet, a hot wallet, or an exchange wallet.
dYdX price is expected to reach $6.895 by 2023.
dYdX price is expected to reach $10.560 by 2024.
dYdX price is expected to reach $16.486 by 2025.
dYdX price is expected to reach $20.703 by 2026.
dYdX price is expected to reach $26.076 by 2027.
dYdX price is expected to reach $32.905 by 2028.
dYdX price is expected to reach $36.471 by 2029.
dYdX price is expected to reach $41.592 by 2030.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.