Decentralized cryptocurrency derivatives exchange dYdXis preparing to operate in the US market by the end of the year. The company’s president told Reuters Eddie Zhangstated that having the platform have a local structure in America is one of the basic elements of the long-term strategy. The new platform will initially be spot only. cryptocurrency will provide buying and selling services.
Spot Trading and Low Commission Strategy for the US Market
ReutersAccording to the news, dYdX will provide spot cryptocurrency trading services to its users when it becomes operational in the USA. Transaction fees are planned to be determined between 0.5 percent and 0.65 percent. The company aims to make a competitive entry with this pricing policy.
dYdX will not be able to offer indefinite futures products for now due to US regulations. Zhang stated that indefinite futures contracts may be brought back to the agenda in the future if regulatory authorities determine a clear framework on this issue.
In the platform’s current global operations DefiLlama According to data, a transaction volume of 8 billion dollars was recorded in the last 30 days. Founded in 2019, dYdX has reached a total transaction volume of more than 1.5 trillion dollars to date.
CoinMarketCap According to the data, the service of the stock exchange altcoinDespite the news, DYDX is trading at $0.3056 with a 10.62 percent decrease in the last 24 hours due to market impact.
Impact of the Trump Administration
US Securities and Exchange Commission with (SEC) Commodity Futures Trading Commission (CFTC) recently announced that they were evaluating new regulatory steps that could allow innovative financial products to be offered in the country. It is on the agenda to include indefinite futures contracts in this framework.
Positive regulatory developments President Donald Trump It is seen as part of the administration’s policies supporting Blockchain and cryptocurrencies. The Trump administration frequently emphasizes its goal of making the United States the global cryptocurrency leader. This environment paves the way for international decentralized exchanges such as dYdX to enter the country.
dYdX’s expansion into the US comes at a time when both regulatory reforms and market competition are gaining momentum. The company’s strategic move is considered an important test of the future of decentralized finance in America.
