In this guide, we will express our and the market’s views on the future of DYDX as we discuss dYdX price forecasts for 2023 and beyond.
Keep in mind that you should take this and any other forecast with a grain of salt as predicting anything is a thankless task, let alone predicting the future of a new highly volatile financial asset like dYdX.
Now, let’s get into it.
Before we delve into dYdX price prediction and answer questions about whether DYDX is a good investment or not, why DYDX will succeed or fail, or why the dYdX price will rise or fall, let’s quickly take a look at what DYDX is and its history to date.
What is dYdX exchange?
dYdX is a non-custodial decentralized derivatives exchange running on a Tier 2 version of the Ethereum network.
dYdX is a protocol for short selling and derivatives built on the Ethereum blockchain. The exchange provides decentralized peer-to-peer shorting, lending, and options trading of any Ethereum-based token.
dYdX enables a wide range of financial strategies:
- Short selling allows investors to profit from price decreases and can be used for speculation or to hedge existing positions
- Fully secured low-risk loans for short sellers allow token holders to earn interest fees
- Options can be used to hedge positions, manage volatility, increase leverage and more
What is the dYdX token (DYDX)?
dYdX (DYDX) is the native and governance token of the dXdY protocol.
In addition to being traded on major crypto exchanges, the DXDY token is also used to reward liquidity providers and to govern the dXdY Layer 2 protocol.
DYDX Price Prediction for the next 90 days
The entire cryptocurrency world is on the verge of complete collapse. Bitcoin fell 75% from its all-time high amid broader market declines caused by furious inflation and the US Fed’s rate hikes.
When you add the most recent collapses of huge industry players (FTX, Celsius, Moon etc.) into the equation, the horizon is murky and there will be more blood on the streets of the crypto city.
Investors are selling risky assets and moving to more stable markets. Crypto is still perceived as a very risky game and therefore sell off.
Our algo still sees some green in 2023, especially in the second half of the year. This is reflected in our forecast for 2023.
Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend.
Once Bitcoin settles into the new price range, altcoins will start doing the same – we’ve seen this scenario dozens of times in distant and more recent history.
Our price forecasting model is bearish for the next 90 days with a hint of a bull market straddling quarters from Q1 to Q2. We expect whales and other larger players in the market to finish filling their bags around that time, which will cause a typical and sudden crypto spike.
The fundamentals we evaluate are teams, tokenomics, use case, community, marketing efforts, liquidity and availability of exchange, hype and speculative potential, and some other proprietary factors developed in our crypto lab.
dYdX Price Prediction 2023
Our forecast model calls for a temporary shift to a bear market in early 2023 before moving to another lead in Q3 and Q4 of 2023.
DYDX Price Prediction 2025 – 2030 – 2040
Our forecasting model sees DYDX reaching new highs in 2025:
The DYDX price in 2030 and 2040 is expected to be a couple of orders of magnitude higher than our 2025 forecast.