{"id":50190,"date":"2021-09-27T10:00:19","date_gmt":"2021-09-27T07:00:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50190"},"modified":"2025-09-02T16:40:29","modified_gmt":"2025-09-02T13:40:29","slug":"dydx-tops-coinbase-in-trading-volume","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/dydx-tops-coinbase-in-trading-volume\/","title":{"rendered":"dYdX tops Coinbase in trading volume"},"content":{"rendered":"<p>The derivatives-focused decentralized exchange (DEX) dYdX has, for the first time, surpassed Coinbase&#8217;s spot markets in trading volume.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">5 years ago I left <a href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\">@coinbase<\/a> and eventually founded dYdX <\/p>\n<p>Today, for the first time, <a href=\"https:\/\/twitter.com\/dydxprotocol?ref_src=twsrc%5Etfw\">@dydxprotocol<\/a> is doing more trade volume than Coinbase \ud83d\ude2f\ud83d\udcc8 <a href=\"https:\/\/t.co\/QzoKAUpH29\">pic.twitter.com\/QzoKAUpH29<\/a><\/p>\n<p>\u2014 Antonio | dYdX \ud83e\udd94 (@AntonioMJuliano) <a href=\"https:\/\/twitter.com\/AntonioMJuliano\/status\/1442234625120608256?ref_src=twsrc%5Etfw\">September 26, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Five years ago I left and founded dYdX. Today the protocol, for the first time, processed more trading volume than Coinbase,&#8221; wrote the founder of the platform, former Coinbase employee Antonio Juliano.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/exchanges\/dydx_perpetual\">CoinGecko<\/a>, in the last 24 hours dYdX derivatives volume reached $5.646 billion. The corresponding Coinbase spot-market figure was $3.675 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/EOKfZtO3TVmAVRAQzKWpgoS4KHvu9kPXTeCsbdgyt5t8xYtJhjtR-VG_evD67I384Letk4OJX9-TNIcCDAoxDWW2SQe4dqmOcDknu-OMXXhHUQLiChJWgL44SaV9j8QzFRnB1nY8=s0\" alt=\"DeFi platform dYdX tops Coinbase in trading volume\"\/><figcaption>Trading volume on the dYdX derivatives platform. Data: CoinGecko.<\/figcaption><\/figure>\n<p>The sharp jump in trading volumes on the derivatives platform occurred against the backdrop of a recent <a href=\"https:\/\/u1f987.com\/en\/news\/pboc-views-cryptocurrencies-as-a-threat-to-the-traditional-financial-system\">negative statement<\/a> by the People&#8217;s Bank of China regarding cryptocurrencies and stablecoins.<\/p>\n<p>Journalist Colin Wu, following yet another regulator critique of digital assets, predicted:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;A large number of Chinese users will flood into the DeFi world, and the number of users of MetaMask and dYdX will greatly increase. All Chinese communities are discussing how to learn DeFi.&#8221;<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A large number of Chinese users will flood into the DeFi world, and the number of users of MetaMask and dYdX will greatly increase. All Chinese communities are discussing how to learn defi.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1442039797246148609?ref_src=twsrc%5Etfw\">September 26, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In 2017, Coinbase CEO Brian Armstrong invested in dYdX as part of a pre-seed funding round.<\/p>\n<p>In June 2021, the DeFi platform <a href=\"https:\/\/u1f987.com\/en\/news\/defi-platform-dydx-closes-65-million-series-c-led-by-paradigm-and-other-investors\">raised $65 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized derivatives exchange dYdX has, for the first time, surpassed Coinbase&#8217;s spot markets in trading volume.<\/p>\n","protected":false},"author":1,"featured_media":50191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,787,1337,1145],"class_list":["post-50190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-dex","tag-dydx","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50190"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50190\/revisions"}],"predecessor-version":[{"id":50192,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50190\/revisions\/50192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50191"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}