Combining the security and transparency of a DEX with the speed and usability of a centralized exchange, dYdX is a standout project. However, trading and entering into perpetual contracts involve significant financial and other risks. dYdX does not provide financial advice. “Free Trading” means that dYdX waives order-related fees for accounts with less than $100,000 in trading volume in the previous thirty days.

Other costs, including continuous funding, deposits, withdrawals, and potential liquidation, may still apply. For additional information, please review the dYdX Terms of Use.

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dYdX does not take custody of user assets; they remain in smart contracts. This means that dYdX cannot steal, lose, or seize user assets. Other aspects of the exchange, such as oracles, are also decentralized, meaning liquidations occur based on prices reported by third-party protocols like Chainlink. Therefore, dYdX cannot unfairly liquidate user assets.

Users can earn numerous rewards in crypto through cross-collateralization on dYdX. This makes dYdX one of the few exchanges in the world that rewards users for using its product.

Another advantage of being a DEX is the seamless onboarding process for users. All they need is a Web3-enabled wallet like Metamask. Once they connect their wallet and deposit funds, they can start trading immediately.

dYdX Investors

Prominent investors in the dYdX project include:

• Hashed
• a16zcrypto
• Paradigm
• Andreessen Horowitz

dYdX Team

Key members of the dYdX team include:

• Antonio Juliano – Founder & CEO
• DL Daniel Lian – Head of Finance
• Gian Raciti – Head of Talent and People
• Vijay Chetty – Head of Business Development
• Vivek Saini – Chief of Staff

How to Register on dYdX

1. Get a Web3 Wallet: Download and set up a Web3 wallet such as Metamask if you don’t already have one.
2. Visit dYdX: Go to the official dYdX website.
3. Connect Your Wallet: Click on the “Connect Wallet” button and choose your wallet provider (e.g., Metamask). Follow the prompts to connect your wallet.
4. Deposit Funds: After connecting your wallet, deposit the desired amount of funds into your dYdX account by following the on-screen instructions.
5. Start Trading: Once your wallet is connected and funds are deposited, you can begin trading on dYdX immediately.

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The post dYdX Project Review appeared first on Coin Engineer.

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23rd of January, Tuesday (Altcoin Unlocks)

• dYdX (DYDX)
  • Market Cap: $866.39 million
  • Unlocked Token Amount: $17.82 million (2.05% of market cap)
• Bonfida (FIDA)
  • Market Cap: $33.04 million
  • Unlocked Token Amount: $5.18 million (15.70% of market cap)

January 24, Wednesday

• Ribbon Finance (RBN)
  • Market Cap: $292.66 million
  • Unlocked Token Amount: $11.67 million (3.99% of market cap)
• GameSwift (GSWIFT)
  • Market Cap: $31.51 million
  • Unlocked Token Amount: $1.55 million (4.91% of market cap)
• Mask Network (MASK)
  • Market Cap: $344.92 million
  • Unlocked Token Amount: $2.30 million (0.67% of market cap)

January 25, Thursday

• Pintu Token (PTU)
  • Market Cap: $36.05 million
  • Unlocked Token Amount: $2.45 million (6.74% of market cap)
• H2O Dao (H2O)
  • Market Cap: $29.10 million
  • Unlocked Token Amount: $4.29 million (14.77% of market cap)
• TENET (TENET)
  • Market Cap: $21.74 million
  • Unlocked Token Amount: $2.51 million (11.56% of market cap)

 26th of January, Friday

• GateToken (GT)
  • Market Cap: $471.45 million
  • Unlocked Token Amount: $31.66 million (6.72% of market cap)
• Dogechain (DC)
  • Market Cap: $20.66 million
  • Unlocked Token Amount: $2.63 million (12.86% of market cap)
• Immutable (IMX)
  • Market Cap: $2.59 billion
  • Unlocked Token Amount: $71.92 million (2.79% of market cap)

January 27, 2024

• Flow (FLOW)
  • Market cap: $1.2 billion
  • Unlocked token amount: $5.59 million (0.47% of market cap)
• Axelar (AXL)
  • Market cap: $489.77 million
  • Unlocked token amount: $22.42 million (4.57% of market cap)
• Yield Guild Games (YGG)
  • Market cap: $154.26 million
  • Unlocked token amount: $5.42 million (3.56% of market cap)

28 of January 2024 (Major Altcoin Unlock)

• Fetch.ai (FET)
  • Market cap: $506.20 million
  • Unlocked token amount: $2.04 million (0.40% of market cap)
• Chromia (CHR)
  • Market cap: $201.27 million
  • Unlocked token amount: $1.44 million (0.72% of market cap)
• Maverick Protocol (MAV)
  • Market cap: $130.08 million
  • Unlocked token amount: $5.76 million (4.43% of market cap)
• Open Campus (EDU)
  • Market cap: $153.58 million
  • Unlocked token amount: $6.08 million (3.96% of market cap)

Analysis

As a general rule, large token unlocks can lead to selling pressure on the underlying asset. This is because investors who have been holding tokens locked up are now able to sell them on the open market. In the case of the altcoins listed above, the unlocked token amounts represent a significant percentage of the respective market caps. This suggests that the selling pressure from these unlocks could be significant.

Of course, the impact of token unlocks will vary depending on a number of factors, including the underlying fundamentals of the asset, the overall market sentiment, and the timing of the unlock. However, it is important to be aware of the potential for selling pressure from token unlocks when making investment decisions.

The post Major Altcoin Unlocks: Week of January 22, 2024 appeared first on Coin Engineer.

You might like: The Bull is Coming in Bitcoin! Onchain Analysis!

Bitcoin is currently trading around $43,727 and is continuing to rise without a correction. If it can test and break the current resistance level of $44,600 again, it may not have any obstacles in its way and can move towards the $47,400 levels with a rapid rise.

Bitcoin and Popular Altcoins Prices- December 6

Bitcoin (BTC)

BTC/USD pair is trading at $43,556, down 1.2% as of the time of writing. Resistance levels for BTC are between $44,600 and $47,400, while support levels are between $43,100 and $42,200.

Ethereum (ETH)

ETH/USDT pair is trading at $2,266, down 1.18% as of the time of writing. Resistance levels for ETH are between $2,295 and $2,350, while support levels are between $2,210 and $2,155.

Avalanche (AVAX)

AVAX/USD pair is trading at $25.54, up 4.01% as of the time of writing. Resistance levels for AVAX are between $27.73 and $29.41, while support levels are between $21.98 and $18.95.

ApeCoin (APE)

APE/USD pair is trading at $1.61, down 4.76% as of the time of writing. Resistance levels for APE are between $1.70 and $1.75, while support levels are between $1.59 and $1.53.

Dydx (DYDX)

DYDX/USD pair is trading at $2.92, down 5.10% as of the time of writing. Resistance levels for DYDX are between $3.26 and $3.42, while support levels are between $2.76 and $2.35.

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The post Bitcoin and Popular Altcoins- December 6 appeared first on Coin Engineer.