I think the way the current crypto landscape is now set up with CEX’s having less trust from the public than ever before and exchanges being so much more vigilant on KYC, its is now the time for DEX’s to take the limelight and run the exchange show in the crypto world. Being a pioneer of the DEX trading world dYdX should continue to evolve, improve and add more pairs to trade which will ultimately pull in more volume to the exchange, therefore I see a lot more value to be extracted from dYdX in the future.
I think the cause for its recent big slump in price action has all been to do with its airdrop where a lot of people made essentially a lot of ‘easy money’ and cashed it all out while they could resulting in one hell of a dump from $27 to right now around $2.
There was a current point of concern I saw another analyst bring up about 67% of its total supply is being held by 14 whales, however as the supply of dYdX keeps increasing one would hope other buyers will step in to buy the new supply up and water down the percentage amount of what these whales currently hold over an accumulation period.
Overall my opinion is buying dYdX now with its current mcap will not make you life changing money if you are investing say around $1000, never the less given the current narrative of DEX’s and their evolving potential for the future I think its safe to say a prominent DEX exchange such as this should see some fairly adequate returns in the next bull run. But be aware that if these 16 whales hodl until then, they could cause price to dump substantially at any time when they do decide to sell, so I would personally make sure I would be disciplined in scaling out profits on a potential rise up if I did get into this asset. Show Less
