Market News

US Market Welcomes Solana as dYdX Announces Significant Expansion

Decentralized cryptocurrency exchange dYdX is set to make a significant move into the US market by the end of 2025.

This entry will include the launch of spot trading products, featuring major cryptocurrencies like Solana (SOL).

According to CEO Eddie Zhang, this expansion is crucial for the company’s broader roadmap and represents a pivotal moment for dYdX.

To attract US users, dYdX plans to reduce transaction fees by nearly 50%, targeting a rate of approximately 0.5-0.65%.

While the company currently cannot offer its popular perpetual futures trading in the US due to regulations, Zhang is optimistic about future regulatory developments.

Since its inception in 2019, dYdX has recorded over $1.5 trillion in total trading volume.

In the past 30 days alone, the platform has achieved an impressive $8 billion in recurring contract volume.

The entry into the US market not only signifies growth for dYdX but also potentially enhances the adoption of Solana and other altcoins.

As the regulatory landscape evolves, dYdX could eventually reintroduce its futures trading products in the US.

This strategic move underscores the increasing integration of cryptocurrencies within established markets and highlights the resilience of platforms like dYdX.