Entry into the U.S. Market: Part of a Strategic Roadmap

According to a report by Reuters, dYdX CEO Eddie Zhang stated that the company’s U.S. expansion plan holds a key position in its long-term vision. Zhang said, “We plan to launch spot trading services in the U.S. by the end of this year, including major crypto assets such as Solana (SOL). The U.S. market will be a crucial turning point that defines our direction.”

According to the CEO, this move will be an important step toward accelerating dYdX’s global expansion strategy and reaching a more institutional user base. The exchange aims to adapt its decentralized trading infrastructure to the U.S. regulatory framework, bringing DeFi-based trading into alignment with the existing legal system.

Major Fee Reductions Coming

Alongside its U.S. launch, dYdX has announced a significant reduction in trading fees. CEO Eddie Zhang stated that the platform plans to cut fees nearly in half, lowering them to a range of 0.5%–0.65% in the new phase.

This move is part of dYdX’s strategy to offer competitive pricing for both retail and institutional investors, positioning itself more strongly against major U.S.-based competitors such as Coinbase, Kraken, and Binance.US.

“For our U.S. launch, we will offer more attractive trading conditions for our users. This is not just a new market entry — it’s a milestone for the maturation of the global DeFi economy.”
— Eddie Zhang, CEO of dYdX

Perpetual Futures Excluded for Now

Due to strict regulations in the United States, dYdX will not initially offer perpetual futures products. Zhang noted that if regulatory agencies establish clearer rules in the future, the exchange plans to introduce these products to the U.S. market as well. In the meantime, dYdX will focus on spot trading, liquidity depth, and user experience.

Since its launch in 2019, dYdX has surpassed $1.5 trillion in total trading volume. According to DeFiLlama, the platform processed $8 billion in perpetual contract volume over the past 30 days, making it one of the largest decentralized derivatives exchanges in the world. Experts agree that entering the U.S. market will enhance dYdX’s brand recognition and pave the way for greater institutional participation in the DeFi ecosystem.

Overall Assessment: dYdX Opens the Door to DeFi in the U.S.

dYdX’s decision to enter the U.S. market is seen as the beginning of a new era for decentralized exchanges. With the introduction of its spot trading services, the exchange aims to establish a structure that appeals to both retail and institutional investors.

Once the compliance process with U.S. regulations is completed, dYdX is expected to strengthen the bridge between DeFi and traditional finance. This move is being regarded as a historic milestone for the maturation of the decentralized finance sector in the final quarter of 2025.

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dYdX Approves Stage 1 of the Treasury SubDAO Buyback Program

The dYdX community has officially approved Stage 1 of the Treasury SubDAO Buyback Program, marking a significant step towards promoting long-term growth of the protocol. As part of this initiative, 25% of net protocol revenue will be allocated to buying DYDX tokens and staking them with validators, thereby strengthening network security.

Approximately $9 million worth of DYDX is expected to be bought back in 2025, aligning with the growing trend of buyback strategies among DeFi protocols. These programs play a critical role in increasing liquidity, balancing token supply, and encouraging governance participation.

How the Buyback Program Will Work?

The buyback initiative will be implemented in phases, with MegaVault’s revenue share being reduced from 50% to 25% to fund the buybacks. The purchased DYDX tokens will be staked through the Treasury SubDAO, contributing to network security and generating additional staking rewards that will be reinvested into the ecosystem.

Key Elements of the Buyback Program:

• 25% of net protocol revenue will be used to purchase DYDX from centralized and decentralized exchanges.

• The purchased DYDX will be staked with validators, increasing network security.

• MegaVault’s revenue share will be reduced from 50% to 25%, redirecting funds towards buybacks.

• $9 million in DYDX is expected to be bought back in 2025.

Why Buybacks Matter for dYdX?

Buybacks have become an increasingly common mechanism in the DeFi ecosystem to strengthen token economies. Platforms like Binance, Jupiter, and Hyperliquid have adopted similar strategies to build stronger connections with token holders, reduce circulating supply, and boost staking participation.

For dYdX, the buyback program offers several potential benefits:

• Strengthening network security: More DYDX will be staked with validators.

• Better alignment with token holders: Protocol revenue will be more directly tied to the value of DYDX.

• Long-term price stability: Continuous open-market purchases of DYDX can help stabilize price fluctuations.

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Whale Opens $31 Million Long Position on LINK!

On March 14, the trader known as “ETH 50x Big Guy” opened approximately $31 million worth of long positions on LINK. According to Lookonchain, these trades were executed on Hyperliquid and GMX platforms with 10x leverage.

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In addition to leveraged positions, the whale also purchased around $12 million in spot LINK. Hours later, on-chain data showed that he gradually converted his LINK holdings back into stablecoins through small swaps.

Hyperliquid Updates Rules After Major Losses!

On March 12, the same trader deliberately liquidated a $200 million ETH long position, causing Hyperliquid’s liquidity pool to lose $4 million. However, the whale profited $1.8 million from this maneuver. According to Lookonchain, he has made $17 million in total profits on Hyperliquid over the past month.

These events have highlighted the risks faced by perpetual trading platforms like Hyperliquid, which allow traders to take highly leveraged positions. Hyperliquid stated that the trader’s actions were not considered an exploit but rather a predictable result of the platform’s mechanics under extreme conditions.

On March 13, Hyperliquid announced changes to its collateral requirements to prevent similar edge cases in the future.

LINK Far From Its Former Highs!

Chainlink (LINK) gained more than 150% after Donald Trump’s victory in the US elections. However, as of March 14, LINK’s price has dropped below $14, far from its December highs near $30. Chainlink’s market capitalization currently stands at around $8.7 billion.

Since its launch in 2024, Hyperliquid has captured 70% of the perpetuals market, surpassing competitors like GMX and dYdX, according to a January report by asset manager VanEck.

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In response to the incident, Hyperliquid will implement new measures starting March 15, requiring traders to maintain a minimum collateral margin of 20% on certain open positions. This new regulation aims to reduce the systemic risks posed by large positions and their potential market impact during closure events.

Measures to Prevent Systemic Risk

Hyperliquid clarified that the loss was not due to an exploit or security breach but was instead a predictable outcome under extreme market conditions. The platform stated, “Yesterday’s event highlighted the need to strengthen the margining framework to more robustly address extreme conditions.”

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The newly adjusted margin requirements will apply only under specific circumstances, such as when traders withdraw collateral from open positions. Hyperliquid also confirmed that users can still open new positions with up to 40x leverage.

Liquidity Pool and Platform Statistics

According to DeFiLlama, Hyperliquid’s HLP liquidity pool currently holds approximately $340 million in total value locked (TVL). Launched in 2024, Hyperliquid’s flagship perpetual futures (perps) exchange has rapidly captured 70% of the market share, surpassing competitors like GMX and dYdX, as noted in a VanEck report from January.

While Hyperliquid promotes a trading experience similar to centralized exchanges, offering fast settlement times and low transaction fees, it is considered less decentralized compared to other platforms.

As of March 12, Hyperliquid recorded an estimated $180 million in daily transaction volume. The platform’s HLP liquidity pool has surpassed $350 million in total value locked, making it a key player in the leveraged trading space.

Industry analysts suggest that the recent liquidation event highlights the importance of carefully managing systemic risks and maintaining robust margin strategies for traders engaging in highly leveraged positions.

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Upcoming Lock Expansions and Details

February 7, 2025

• SUI (Sui): SUI 378,060 ($1.29M) → Market capitalization impact: 0.01
• WLD (Worldcoin): 3.42M WLD ($4.32M USD) → Market capitalization impact: 0.33

February 9, 2025

• SEI (Sei): SEI 5.24M ($1.44M) → Market capitalization impact: 0.11
• TIA (Celestia): TIA 998,404 ($3.71M) → Market capitalization impact: 0.19

February 10, 2025

• GT (GateToken): 6.67M GT ($156.13M) → Market capitalization impact: 7.51

February 12, 2025

• AXL (Axelar): AXL 12.46M ($6.26M) → Market capitalization impact: 1.35

February 14, 2025

• OP (Optimism): 24.16M OP ($28.34M) → Market capitalization impact: 1.49
• PRIME (Echelon Prime): 1.66M PRIME ($9.34M) → Market capitalization impact: 3.04
• CPOOL (Clearpool): 6.86M CPOOL ($1.61M) → Market capitalization impact: 0.93

February 16, 2025

• DYDX (dYdX): 8.35M DYDX ($6.70M) → Market capitalization impact: 1.14

Possible Market Impacts

The upcoming token lock expansions are at remarkable levels, especially for large projects such as GT (7.51%) and OP (1.49%). Large-volume expansions can put selling pressure on the market and lead to price volatility.

Lower-impact expansions such as WLD, TIA and SEI may partially affect prices, but are not expected to create major selling pressure. However, it is important for investors to closely monitor the volume and price movements of these tokens.

On the other hand, tokens with moderate impact, such as DYDX and AXL, may be priced with the whale movements of large investors. It is critical for traders to be wary of potential sell-offs in the market.

This kind of key breakout data provides investors with important information when formulating their strategies. It is of great importance to follow the market movements after the lock-ups and to be prepared for possible price fluctuations.

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The post Major Token Unlocks Taking Place This Week appeared first on Coin Engineer.

Monday, November 25

• 1INCH Token Unlocking: 1INCH tokens amounting to $27 million (representing 4.95% of total supply) will be unlocked. Such a large unlocking event could lead to price volatility as these tokens become available for trading.

Tuesday, November 26

• FOMC Meeting Minutes: At 22:00 UTC, the minutes from the Federal Open Market Committee (FOMC) meeting will be released. These minutes can provide clues on future interest rate changes and the Fed’s stance on inflation and economic growth.
• Starknet Staking Launch: Starknet, a Layer 2 scaling solution for Ethereum, will launch its staking service. Users can now stake tokens to earn passive income and support the network’s security.
• DYDX Token Unlocking: 9 million USD worth of DYDX tokens (representing 0.63% of the total supply) will be unlocked. The market may see volatility as the tokens enter circulation.
• ADA Token Unlocking: 20 million USD worth of ADA tokens (representing 0.04% of the total supply) will be unlocked. Investors should watch for potential price movements in Cardano.

Wednesday, November 27

• US GDP Data: At 16:30 UTC, the US Gross Domestic Product (GDP) data will be released. Analysts expect a 2.8% growth rate, providing insight into the health of the US economy.
• Core PCE Index: The Core Personal Consumption Expenditures (PCE) index will be released at 18:00 UTC. This is a key inflation indicator in the US and can influence the Fed’s decisions on monetary policy.
• ENA Token Unlocking: 9 million USD worth of ENA tokens (representing 0.08% of the total supply) will be unlocked, potentially affecting market dynamics.

Thursday, November 28

• US Markets Closed for Thanksgiving: US markets will be closed in observance of Thanksgiving Day, which can reduce trading volume and lead to a quieter day for global markets.
• FLOKI Valhalla Update: The FLOKI token will undergo a Valhalla mainnet upgrade, adding new features and improving transaction speeds. This could boost the project’s ecosystem.

Friday, November 29

• Eurozone CPI Data: At 13:00 UTC, the Eurozone Consumer Price Index (CPI) data will be released. This will indicate inflation levels in the Eurozone, influencing European Central Bank policies.
• EDU Token Unlocking: 11 million USD worth of EDU tokens (representing 1.92% of the total supply) will be unlocked, likely causing a shift in the EDU market.

Saturday, November 30

• OP Token Unlocking: 53 million USD worth of Optimism (OP) tokens (representing 0.56% of the total supply) will be unlocked. The release could result in a market impact for OP tokens.

Sunday, December 1

• SUI Token Unlocking: $230 million worth of SUI tokens (representing 0.64% of the total supply) will be unlocked. The large volume of unlocked tokens could affect the price and liquidity of SUI.

This week, major token unlockings and economic data releases are set to influence the markets. The FOMC and PCE data are particularly important for gauging future interest rate policies. Additionally, Starknet and FLOKI will see important upgrades and new services, potentially advancing the Web3 ecosystem. These developments could lead to both opportunities and risks for cryptocurrency investors.

Keep a close watch on the market as these events unfold, especially given the significant token unlockings and economic indicators that will provide clues to the future of both traditional and digital finance.

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The post Weekly Crypto and Economic Events: November 25 – December 1, 2024 appeared first on Coin Engineer.

This significant decision came shortly after Antonio Juliano took over the company. Juliano, who left office on May 13 due to personal and professional reasons, returned to his position on October 10 after a six-month hiatus and resumed leading the company’s Cosmos-based protocol development process. It was stated that the layoff process aimed to create a more agile and goal-oriented team structure in line with the company’s long-term goals.

Juliano drew attention to the difficulty of taking this step and stated that the need for restructuring was inevitable in order to achieve the company’s future goals. In addition, according to Juliano’s statement, the dYdX team will continue its work to develop innovative projects and further advance the decentralized derivatives platform. “We will continue on our path with a clearer vision and renewed passion. We will create great things,” Juliano said, emphasizing the company’s determination for the future and its commitment to innovative projects.

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This development coincided with the decision of Ethereum-focused technology firm Consensys to cut 20% of its staff on the same day.

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Bitcoin Intraday Key Levels

The BTC/USDT pair has lost 0.37% in value over the last 24 hours and is currently trading at $72,445. If the decline deepens, Bitcoin (BTC) may drop to a lower support level around the $70,200 region. On the other hand, if we see a significant breakout above the $72,600 resistance, we can expect the price to rapidly reach a new all-time high.

Ethereum (ETH): The ETH/USDT pair has gained 2.26% in value over the last 24 hours and is currently trading at $2,673. The resistance levels for ETH are first at $2,690, and then at $2,745. The support levels are at $2,640 and $2,540.

Ethereum Name Service (ENS): The ENS/USDT pair has gained 9.57% in value over the last 24 hours and is currently trading at $18.49. The resistance levels for ENS are $19 and then $20. The support levels are at $17.60, with a deeper decline potentially reaching the $16 support level.

dYdX (DYDX): The DYDX/USDT pair has gained 0.54% in value over the last 24 hours and is currently trading at $1.05. The resistance levels for DYDX are $1.06 and then the $1.21 region. The support levels are at $1.03, with a deeper decline potentially reaching the $0.91 support level.

MultiversX (EGLD): The EGLD/USDT pair has lost 0.14% in value over the last 24 hours and is currently trading at $25.05. The resistance levels for EGLD are $26 and then the $28 region. The support levels are at $24.50, with a deeper decline potentially reaching the $23 support level.

Trending Coins

In the last 24 hours, the trending coins in the cryptocurrency market include Grass (GRASS), Phil (PHIL), and Sui (SUI). Among the top gainers are Mask Network (MASK), Chex Token (CHEX), and Michi ($MICHI). On the list of the biggest losers in the market, we find Nosana (NOS), Virtuals Protocol (VIRTUAL), and Non-Playable Coin (NPC).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the prominent liquidation level at the top is $73,232, with a total of $52 million. On the lower side, the $71,806 level is also notable, with $52 million in liquidations.

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The post Bitcoin and Cryptocurrency Latest Update – October 30 appeared first on Coin Engineer.

As the largest cryptocurrency exchange in the United States, Coinbase continues to expand its investment portfolio, with the latest announcement highlighting 40 new projects they’ve backed.

In his statement, Brian Armstrong noted that these startups include notable names such as the DeFi exchange dYdX, the decentralized social network Farcaster, and the on-chain social platform Zora.

These investments not only demonstrate Coinbase’s commitment to fostering innovation but also emphasize the significant role that its alumni are playing in shaping the future of the crypto industry.

“Joining Coinbase is one of the best ways to learn how to build a startup.

We have invested in nearly 40 ventures launched by our former employees.

Many exceptional founders are launching their products internally at Coinbase (and benefiting from the distribution network). Entrepreneurial leaders with sufficient autonomy within scalable companies can create magic.

We plan to create much more.”

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Showcasing its commitment to fostering innovation inside the blockchain environment, Coinbase invests in 40 startups started by former workers. This approach complements Coinbase’s larger goal of hastening the acceptance of distributed technology and thereby supporting the expansion of the crypto ecosystem. Supporting these firms not only helps Coinbase’s alumni flourish but also deepens its connections to innovative ideas, probably influencing the direction of the sector.

Investing in companies under the direction of former staff members shows Coinbase’s appreciation of the skill and knowledge that have developed within its own ranks. Equipped with extensive industry knowledge and expertise acquired at Coinbase, these former workers are currently leading the front-edge development of creative ideas addressing important problems in the crypto world.

Among the 40 startups Coinbase has committed funds to, some stand out because of their creative ideas and major influence. Some of the main startups are listed here:

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