Algorithmic Ratings & Investment Analysis
© ARIA 2025
by aria-ratings.com
August 8, 2025 at 22:26
Coinbase Welcomes dYdX, a DeFi Project Built on Cosmos, to Its Platform
Coinbase has officially announced its support for dYdX (COSMOSDYDX), a decentralized finance altcoin based on the Cosmos network.
This introduction allows Coinbase users to buy, sell, convert, send, receive, or store the dYdX token on its platform.
Following the announcement, the price of COSMOSDYDX experienced significant volatility, climbing from a low of $0.59 to a peak of $0.63 in just one day.
At the time of writing, the token trades at approximately $0.62, marking a 3.7% increase for the day.
dYdX initially launched on the Ethereum blockchain in 2017 but transitioned to Cosmos for enhanced flexibility and customizability related to derivatives trading.
The dYdX Chain is characterized as a sovereign layer-1 blockchain, operating independently of Ethereum and utilizing the Cosmos SDK for its infrastructure.
This autonomy allows dYdX to have comprehensive control over critical aspects such as consensus, governance, and validator incentives.
The Cosmos SDK provides a modular approach, enabling developers to create application-specific blockchains tailored to their project needs.
As decentralized finance continues to gain traction, the addition of dYdX to Coinbase highlights the growing interest in innovative blockchain solutions.
Investors and users alike are keenly watching how this development might influence the DeFi landscape moving forward.
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