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DYDX to USDT Converter
1 DYDX = 0.106067 USDT · updated 06:22 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.dYdX Markets
dYdX Historical Data
About dYdX (DYDX)
dYdX (DYDX) is the token of the dYdX Chain, a blockchain built for trading perpetual futures. Perpetuals are contracts that track an asset's price without an expiry date. DYDX holders can stake with validators and vote on how the chain is run. The price shown on this page is FMchart's composite, a US dollar figure averaged across several exchanges.
From Ethereum governance token to its own chain
DYDX first appeared in August 2021 as a governance token on Ethereum. At that time, the exchange ran as a layer 2 protocol built on StarkWare's scaling engine. In September 2023, the community voted to adopt DYDX as the native token of a standalone chain. The first block of the dYdX Chain followed in October 2023. The chain uses the Cosmos SDK and CometBFT consensus. Holders moved their Ethereum tokens over through a one-way bridge.
Staking rewards paid in USDC
Trading on the dYdX Chain has no gas cost. Traders pay maker and taker fees in USDC instead. Fees collected by the protocol go to validators and to the holders who stake DYDX with them. Validators set their own commission rates. The launch settings allowed at most 60 active validators and a 30-day unbonding period, during which unstaked tokens stay locked. In July 2026, the dYdX Foundation confirmed that staking rewards are still paid in USDC from protocol fees.
Buying back DYDX with protocol revenue
Governance proposals #225 and #231 set up a monthly buyback program. It began with 25% of net protocol fees being used to buy DYDX on the open market, and every purchased token is staked. In its 2025 annual report, the dYdX Foundation said the program had been scaled to 75% of net protocol revenue. The Foundation presents this as recycling trading revenue into the token instead of relying on new token emissions.
The 2021 supply plan
The 2021 launch post minted 1 billion DYDX, to be released over five years. The biggest slices were 25% for trading rewards, 27.73% for past investors and 15.27% for founders, employees, advisors and consultants. Another 7% was set aside for future employees and consultants. That 2021 plan also allowed inflation of up to 2% a year after the first five years. Current circulating and total supply appear in Price Statistics.
Arcus and other open questions
On July 1, 2026, dYdX Trading Inc., which does business as dYdX Labs, announced Arcus. It is a separate exchange built with Robinhood on Robinhood Chain. The Foundation stated that Arcus runs on separate infrastructure and that DYDX remains the governance and staking token of the dYdX Chain. It added that no token swap or migration had been announced. DYDX still depends on trading volume and validator support, and dYdX is not available to US persons.
Last reviewed: Oct 8, 2026
dYdX (DYDX) FAQ
What is dYdX (DYDX)?
DYDX is the native token of the dYdX Chain, a proof-of-stake blockchain for trading perpetual futures. Holders stake it with validators, earn a share of protocol fees in USDC and vote on governance proposals. It began as an Ethereum governance token in 2021 and moved to its own chain in 2023.
What is the dYdX Chain?
The dYdX Chain is a standalone blockchain built with the Cosmos SDK and CometBFT consensus. Its first block was produced in October 2023. Validators keep an order book off-chain in memory and add matched trades to blocks. Trading is gas-free, and traders pay maker and taker fees in USDC.
How do DYDX buybacks work?
A share of net protocol revenue is used each month to buy DYDX on the open market, and all purchased tokens are staked. Proposals #225 and #231 started the program at 25% of net fees. The dYdX Foundation's 2025 annual report says it was later scaled to 75% of net protocol revenue.
Does staking DYDX pay rewards?
Yes, stakers receive a share of the fees the dYdX Chain collects, paid in USDC. Rewards are shared between validators and the holders who delegate to them, minus each validator's commission. Unstaking takes a 30-day unbonding period under the launch settings, and locked tokens cannot be moved during that time.
How much is one DYDX worth today?
DYDX is priced at about $0.1059 on FMchart's composite, which averages several exchanges into one US dollar quote. Over the last 24 hours, roughly $1.01M worth of DYDX traded across the exchanges in FMchart's composite. The chart above lets you switch between 15-minute, hourly, 4-hour and daily candles.
How much DYDX is in circulation?
About 846,094,216 DYDX are in circulation, measured against a listed maximum of 1,000,000,000 tokens. That circulating amount is worth roughly $89.59M at the current price, which puts DYDX at rank 298. The original 2021 plan released the first 1 billion tokens over five years.
When did DYDX set its all-time high?
The highest price on record for DYDX is $4.52, set on Mar 7, 2024. Price Statistics shows how far today's composite price sits from that level and from the all-time low. Both figures come from market data rather than from FMchart's own history.
How has DYDX done in each calendar year?
Annual Price (USD) Change on this page shows DYDX's result for each calendar year in FMchart's composite price history. Monthly Returns (USD) splits the same record into months, and Quarterly Closing Price (USD) lists where each quarter ended. DYDX first launched in 2021 as an Ethereum governance token.
What is Arcus, and does it replace DYDX?
Arcus is a separate exchange that dYdX Labs announced on July 1, 2026, built with Robinhood on Robinhood Chain. The dYdX Foundation said it runs on separate infrastructure and does not affect the dYdX Chain. DYDX remains the chain's governance and staking token, and no token swap or migration has been announced.
Is dYdX available in the United States?
No. The dYdX Foundation states that dYdX is not available in the US or to US persons, or in other restricted jurisdictions. The same restriction applied when DYDX launched in 2021, when US users could not receive the token distribution. Local rules elsewhere may also limit access.