dYdX introduces perpetual contracts for XRP and different tokens

Cryptocurrency merchants have gained new alternatives for leveraged buying and selling because the decentralized trade (DEX) dYdX has rolled out perpetual contracts for ‘s XRP, alongside markets for different tokens akin to UNI, TRX, OP, and ADA. This growth brings the overall variety of cryptocurrencies provided on the platform to 13, all paired in opposition to the U.S. greenback for superior buying and selling providers.

Merchants trying to leverage their positions can now achieve this with as much as 10x leverage on XRP trades by way of the platform’s web site. The minimal order dimension for these trades is ready at 10 XRP. Up to now day, dYdX has seen a buying and selling quantity of $47 million with open curiosity reaching $3 million, indicating strong exercise following the launch.

One of many key options of dYdX is that customers preserve custody of their cryptocurrencies whereas buying and selling. Moreover, they’ve the potential to earn DYDX tokens as a reward for conducting transactions on the platform. Nonetheless, you will need to word that these providers should not accessible to customers in sure areas, together with the U.S. and Canada, on account of regulatory restrictions.

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