Crypto Exchange dydx Surpasses Coinbase by Trading Volume

by in Cryptocurrency News

dydx Coinbase crypto trading

First time ever, decentralized exchange dydx surpassed Coinbase in trading volume. As data from CoinMarketCap show, in the past 24 hours, the trading volume of dydx has gone up by over 188%, exceeding $6.3 billion.

Related: Huobi Stops to Serve Chinese Users

dydx launched its governance token on September 8. Today the cryptocurrency has reached its highest price so far, going up to $22.85. It ranks 208th with a market cap of over $1.2 billion.

On the other hand, spot exchanges have seen a drop in trading volume after the major crackdown from China.

In the last 24 hours, the trading volume of Coinbase has fallen by more than 5%. At the moment, it stands at around $3.1 billion.

On September 25, the People's Bank of China announced unprecedented strict measures against the crypto industry, after which FTX moved its headquarters from Hong Kong, and Huobi stopped services for users from China.