CMS Holding has recently accumulated a significant amount of $DYDX, with a total of 518,778 units acquired from Binance at a rate of $1.936. This acquisition is valued at approximately $1.0M.
It’s worth noting some key points about CMS Holding’s involvement with $DYDX:
- CMS Holding was previously an investor in dYdX and received a distribution of 1.78M $DYDX.
- The venture capital firm has been actively trading $DYDX across various platforms, including Binance, FTX, and Bitget. From these trades, they have garnered an estimated profit of around $1.14M.
- As of now, CMS Holding retains a substantial amount of $DYDX in their portfolio, holding onto 3.05M $DYDX, which is valued at approximately $5.98M.
In terms of market analysis, there has been a descending channel formation observed in the 1D timeframe for $DYDX. Some market analysts are anticipating a potential breakout in the near future. As always, investors and traders are advised to conduct their own research and exercise caution in the volatile world of cryptocurrency.
dYdX ($DYDX) is currently on a trajectory towards a significant resistance level at $2.2685. This resistance point was identified on August 24, 0:00 UTC. As the pattern is still in the formation phase, it’s crucial for traders and investors to monitor this closely.
Given the current trend, there’s a potential bullish price movement expected towards the resistance level of $2.2685. If the price successfully breaks this resistance, it could signal further upward momentum. However, if the price fails to break through, it might face a pullback.
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Show more +The price of dYdX ($DYDX) is currently $2.19, marking a 10.33% price increase in the last 24 hours. This positive momentum is also reflected in its 7-day performance, with a 7.85% price increase observed.
The token is a governance token for the dYdX exchange protocol. Token holders have the ability to govern the dYdX Layer 2 protocol and are eligible for various benefits, including trading discounts on the dYdX platform.
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