The dYdX ecosystem has been growing since it was founded back in 2017. The exchange has now become one of the leading decentralized exchanges for trading perpetuals, a trading product similar to futures contracts minus the expiration dates.
According to Coingecko, the governance token of the exchange, DYDX, has catapulted 175% in the bi-weekly with the biggest gains made in the monthly time frame at nearly 200%. This has been caused by positive on-chain developments and the complete shift in sentiment in cryptocurrencies.