dYdX Price Prediction 2023. Should I buy DYDX?

How much dYdX will be worth in 2023? To find out, dive into our complete DYDX price prediction for year 2023 and beyond! DYDX price, technical indicators, and exchanges.

This year has been a tough sail for dYdX since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of DYDX.

With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for dYdX to reclaim its all-time high in 2023? Continue with the article to learn about dYdX price analysis and prediction by Coinpaper.

Read also: DEX or CEX? A beginner’s guide to cryptocurrency exchanges

What is dYdX?

dYdX is a decentralized exchange (DEX) and trading platform for cryptocurrency derivatives built on the Ethereum blockchain. The platform allows users to trade cryptocurrency futures and perpetual contracts with up to 10x leverage. dYdX is designed to offer a fast, secure, and decentralized way for traders to manage their risk and speculate on the price movements of various cryptocurrencies. The DYDX token is the native utility token of the dYdX platform. It is an ERC-20 token that is used to pay for transaction fees on the dYdX platform, as well as to stake in order to earn rewards and participate in the governance of the platform. Holders of DYDX tokens can participate in platform upgrades, vote on proposals, and receive a portion of the platform's revenue.

dYdX (DYDX) price

Currently, dYdX Price is USD. DYDX has a circulating supply of coins and a total supply of . If you are looking to buy or sell dYdX, Binance is currently the most active exchange.

Market Cap
Fully Diluted Valuation
Circulating Supply
Total Supply
Max Supply

dYdX price prediction 2023

The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.

According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.

Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.

Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish dYdX 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see dYdX price at $4.15 to $6.27. On the flip side, a fading interest in the new meme coin may push the price of dYdX to $2.98-$1.56 lows.

dYdX price prediction 2024

In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to dYdX (DYDX) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.

Keeping this in mind, we foresee the price of dYdX to climb as high as $7.36, with the more distant prospect of reaching $9.81 in 2024. The bearish scenario is likely to see dYdX (DYDX) trading between $5.12 and $3.86 in 2024.

dYdX price prediction 2025

Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our dYdX (DYDX) price analysis and prediction is based on pure speculation and observation of dYdX historical price movements.

Our dYdX 2025 price forecast expects DYDX to rally towards $15.34 and reach $19.61 by the end of the year. The bearish scenario would see dYdX at $12.36 to $10.46.

dYdX (DYDX) price prediction 2026

Looking ahead four years, to 2026, Coinpaper's price prediction for dYdX is neutral. In 2026, we expect dYdX to reach at least $24.96 before climbing higher to $31.48. In case of a bearish scenario, dYdX may fall to $19.58.

Is dYdX (DYDX) a good investment?

As an established and popular cryptocurrency with a solid use case as a native token of the well-known decentralized exchange, DYDX can be generally considered a worthy investment. However, when it comes to investing in crypto, it’s important to take your time to do due diligence before putting your money into any asset, no matter how promising it may look.

Bottom line

Are you ready to invest in dYdX? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.

You can buy DYDX from many crypto exchanges, including Binance

Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.


Who created dYdX?

dYdX was created by a team of experienced software engineers and cryptocurrency traders, led by Antonio Juliano. Juliano is a former software engineer at Coinbase, and he founded dYdX in 2017 with the goal of creating a decentralized platform that would provide traders with more control over their assets and exposure to the cryptocurrency markets.

What was the all-time high for dYdX (DYDX) ?

The all-time high price of dYdX is $ on 2021-09-30