dYdX Becomes Top DEX after Switch to Cosmos, Seeing $17.8B Volume Since Launch
• dYdX, a decentralized exchange, has surpassed Uniswap to become the largest DEX by daily trading volume after migrating from Ethereum to Cosmos • dYdX's v4 market saw $757 million in volume over 24 hours, topping Uniswap v3's $608 million • dYdX's total trade volume since the v4 launch is $17.8 billion • The high trading volumes validate dYdX's decision to switch from Ethereum to Cosmos in order to improve throughput and reduce costs • dYdX focuses on perpetual futures trading and plans to eventually close its Ethereum-based v3 market, but has not set a date