Yesterday, crypto trader Ali (@ali_charts) took to Twitter to share his bullish outlook on dYdX (DYDX) in a well-crafted thread. Despite the bearish market sentiment surrounding DYDX, Ali urged traders not to dismiss it prematurely. He highlighted the potential for savvy investors to uncover hidden gems amidst negative sentiment.
According to the trader, the crypto whales have acquired over 10 million DYDX tokens in the past fortnight. The estimated value of these tokens in US dollars is a staggering $24 million. This indicates that the bigwigs of the crypto world are optimistic about DYDX’s potential, despite the current bearish market sentiment.
According to a recent tweet, it has been observed that nearly 7.86 million DYDX tokens have been withdrawn from recognized crypto exchange wallets in the last three weeks. This has led to a decline in the availability of DYDX tokens for sale.
According to CoinMarketCap, the current trading price of the altcoin stands at $2.88, reflecting a notable 6.38% surge in the past 24 hours. DYDX has outperformed the crypto market giants Bitcoin (BTC) and Ethereum (ETH). Against BTC, DYDX has surged by 7.31%, while against ETH, it has recorded a 6.58% increase.
The estimated daily trading volume for DYDX stands at an impressive $133,825,546, marking a significant 39.68% increase in the past 24 hours. The altcoin’s price has also experienced a noteworthy surge, propelling its market cap to $452,367,661. This places DYDX as the 94th largest crypto project in terms of market cap. These figures are a testament to the growing popularity and potential of DYDX in the crypto market.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
