dYdX, has smashed past Coinbase Pro by volume.

dYdX, has smashed past Coinbase Pro by volume.


 dYdX, a decentralized derivatives exchange built on top of the Ethereum blockchain, has smashed past Coinbase Pro by volume.

After seeing the exchange’s first-month volume of $3.25 billion, we can safely say that dYdX has taken over its spot markets by volume. In their terms, the two were neck and neck in November (Coinbase Pro: $3.04 billion; dYdX: $3.22 billion), but since then, Coinbase has been forced to make changes to get back on track, while dYdX continues to blast ahead with new features and updates that keep its user base growing.

The market leader will likely be looking into more robust customer protection tools given its recent run-in with China’s central bank; perhaps a custodian will be necessary to protect assets moving between dYdX and exchanges like IDEX and EtherDelta. With all this said, it still remains unclear if the Ethereum network itself is vulnerable to attacks or DDoS’s as a result of their structure or lack thereof (for example: ...).

While Coinbase Pro is a centralized exchange that is known for ease of use and accessibility, dYdX is completely non-custodial. This means users can trade their assets in a decentralized manner without the need to trust any third-party with their funds.


The main difference between these two exchanges lies in their users’ ability to hold digital assets and control their own private keys.

On Coinbase, users must create an account and hand over control of their money to the exchange, which means that they are no longer responsible for its security and access to it. In contrast, on dYdX users can trade directly from their personal Ethereum wallets or hardware wallet devices such as Trezor or Ledger Nano S.

dYdX supports perpetual swap contracts for Ether (ETH) and tokens like DAI, Tether (USDT), Augur (REP), 0x (ZRX), Basic Attention Token (BAT), and USDC. Users can open short or long positions while setting leverage to enter into leveraged positions.

There are several derivatives products available on the dYdX platform.

For starters, there are perpetual swap contracts for Ether (ETH) and tokens like DAI, Tether (USDT), Augur (REP), 0x (ZRX), Basic Attention Token (BAT), and USDC. Users can open short or long positions while setting leverage to enter into leveraged positions. A variety of mechanisms are used to maintain the peg and prevent price manipulation, such as a negative funding rate for shorts that gain against the market price.

The exchange also offers margin trading for ETH-USD pairs. For example, if you place a $50 order with a 2x leverage multiplier, your position will be magnified by 2x its value ($100 in this case).

Users are charged a 0.04% maker fee, which equals $4 per $10,000 worth of trades executed. The exchange also charges takers a 0.1% fee if they are trading on the market or if they remove liquidity from the order book. No fees are charged when adding liquidity to the marketplace by posting limit orders.

dYdX is a non-custodial decentralized exchange that allows users to trade derivatives and spot markets. The platform does not hold funds from users; instead, it only provides the smart contracts and infrastructure needed for traders to conduct their business.

Users are charged a 0.04% maker fee, which equals $4 per $10,000 worth of trades executed. The exchange also charges takers a 0.1% fee if they are trading on the market or if they remove liquidity from the order book. No fees are charged when adding liquidity to the marketplace by posting limit orders.

At the time of writing this article, dYdX has been trading more than $52 million worth of assets over the last 24 hours across all markets according to data from CoinGecko. The exchange currently has its highest ETH voluime in more than three months at around $40 million worth of ETH traded in the last 24 hours as per CoinGecko’s metrics.

dYdX currently supports the trading of ETH, DAI, USDC, and WBTC. The exchange allows users to trade long or short these aforementioned assets with up to 4x leverage. The exchange can be accessed via an Ethereum wallet such as MetaMask, WalletConnect, Ledger Nano S and others. At the time of writing this article, dYdX has been trading more than $52 million worth of assets over the last 24 hours across all markets according to data from CoinGecko. The exchange currently has its highest ETH voluime in more than three months at around $40 million worth of ETH traded in the last 24 hours as per CoinGecko’s metrics.

Previous Post Next Post