dYdX (DYDX), one of the leading decentralized cryptocurrency trading platforms in the industry, is reportedly preparing to enter the US market by the end of the year, following the recent shift in crypto policies by the Trump administration.
Unlike centralized exchanges such as Coinbase (COIN) and Kraken, which act as intermediaries between buyers and sellers, dYdX aims to eliminate the middleman, allowing users to transact directly on a blockchain network that underpins cryptocurrencies.
As part of its expansion strategy, dYdX plans to introduce spot trading for Solana (SOL) and other linked cryptocurrencies, potentially including XRP and Cardano (ADA), to US users by the end of the year.
This move comes in the wake of President Donald Trump’s increased support for the cryptocurrency sector, which has led to the dismissal of numerous lawsuits against major crypto platforms and prompted financial regulators to develop specialized rules for digital assets.
However, while perpetual contracts will not be available to US users immediately, Zhang expressed hope that regulators will eventually provide the necessary guidance for decentralized platforms to offer these products.
As of this writing, the platform’s native token, DYDX, is trading at approximately $0.30. However, the token has experienced a significant decline of nearly 68% over the past year, shedding about $1.43 billion in market cap value.
Featured image from DALL-E, chart from TradingView.com
