DYDX Token Skyrockets 10% Overnight as launch of v4 Nears

The DYDX token surges 10% overnight as the exchange’s native chain nears launch.

Last updated: March 20, 2026 6:08 PM

Published 2023-08-24

Last updated: March 20, 2026 6:08 PM

Published 2023-08-24

The decentralized derivative exchange, dYdX’s native token, DYDX, has jumped 10% in the last 24 hours without any major updates from the project team.

DYDX has surged to near $2.20 on the daily high, with its 24 hour volume gaining more than 35% to $68 million, according to market data from CoinMarketCap.

dYdX (ethDYDX) price chart - CoinMarketCap

It is possible that the sudden surge in the DYDX token’s price can be linked with its much-anticipated launch of dYdX v4.

A report by Nansen shows a bullish run in the dYdX token as users have been accumulating the tokens over the last three months.

The application-specific chain dubbed ‘dYdX Chain’ is the 4th variation (v4) of the decentralized derivative exchange. dYdX Chain is built using Cosmos SDK and its interoperable blockchain infrastructure.

Earlier this month, the team announced that they will migrate the ERC-based token from Ethereum to its upcoming dYdX Chain.

Launched in July 2017, dYdX is a decentralized derivative exchange on Ethereum. It is one of the first and largest DEXs in DeFi with the current TVL of $341 million. DYDX token is native governance token of the launched protocol.

Also read: EigenLayer’s TVL Spiked 200%, 100K ETH Limit Filled In Hours

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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