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Highlights
- DerivaDEX or DerivaDAO is a derivatives-focused decentralized exchange with DAO features
- DDX crypto is the platform’s native token, which will be used for governance purposes within the platform
- DDX is one crypto that has lately surged amid a broader bearish phase in almost all major cryptocurrencies
Multiple forces are bothering cryptocurrencies at the moment. Many analysts think that the Fed’s near certain shift to higher rates in March 2022 is causing cryptos and other riskier assets to lose value. Some believe that cryptos may have become overvalued and the ongoing correction was always in the making.
Over the past 24 hours Bitcoin, Ether and most other high market cap cryptos have lost more value. But there is a crypto that has gained substantially during the same period.
Let’s know more about this crypto -- DerivaDEX or DDX crypto.
What is DerivaDEX?
DerivaDEX or DerivaDAO is a crypto exchange with derivatives features. The platform claims to be a unique decentralized exchange or DEX, which differs not only from traditional crypto exchanges, which have a centralized controlling entity, but also from other DEXs.
DerivaDEX promises competitive fee for its services, and features like real-time price information. The platform also claims to not use any public blockchain for exchange services.
The exchange swears by decentralized autonomous organization (DAO) attributes, which means control and governance is in the hands of users, not any centralized authority. Besides, the platform comes with a vertical for ‘Insurance Mining’, where users can stake their cryptos to a fund to earn incentives.
Also read: Top 5 cryptocurrencies to watch in February 2022
DDX crypto
Like most other blockchain-based projects, DerivaDEX also has a native token.
DDX coin serves as the native governance token of DerivaDEX, besides finding use in staking. DDX holders also get fee advantages within the platform.
DDX crypto price
DDX token, as stated earlier, has lately entered a bullish phase. The price, as of now, is approx. US$3.3.
Over the past 24 hours, trading volume of DDX is up by almost 4,000 per cent. The price of DDX token has also gained by nearly 25 per cent, according to CoinMarketCap. As of now, DDX crypto’s market cap is nearly US$84 million.
Also read: ‘Crypto is for virgin’ trend shines the spotlight on ‘virgin’ Bitcoins
DDX crypto price prediction
DDX is a native token, and its value would largely depend on how DerivaDEX platform performs. The speculation by cryptocurrency traders in DDX token would also have an impact on price.
In late-August 2021, DDX crypto price peaked to US$13, but by the end of the year, price had plunged to nearly US$4.5. A sustained bull-run may take the price to double digits by the end of first quarter.
Data provided by CoinMarketCap.com
What is DerivaDEX & DDX crypto’s price prediction?
Bottom line
DerivaDEX claims delegation of governance to users. Decentralized exchanges are emerging as a rival to regular crypto exchanges like Coinbase. DDX crypto price would largely be a product of DerivaDEX success in the near future. Cryptos are volatile, and prices may fluctuate in any direction, but long-term value would always rely on the utility and viability of the linked blockchain project.
