dYdX and TRON Investors Shifting Attention to Rising Meme Coin Project, Rebel Satoshi
TLDR
dYdX plans to recover from its recent loss by increasing the margins for trading in barely liquid markets. Now, analysts speculate on how it will affect trading on the decentralized exchange. Elsewhere, Tron (TRX) seems unable to hold the $0.1 mark despite its recent partnerships in the AI and DeFi industries.
Now, investors in both projects are hurrying to join Rebel Satoshi, a revolutionary meme coin project that offers high rewards. Rebel Satoshi ($RBLZ) offers an NFT marketplace, a play-to-earn game, and coin staking. Yet, can it become a top ICO? Read on to see what investors think.
On November 18, 2023, dYdX announced an increase in margin requirements for less liquid markets. The move followed a multimillion-dollar bad trade that was compensated by dYdX’s insurance fund. Trouble started when several transactions on dYdX caused its Open Interest to surge by over $66 million. To curtail the effects, dYdX spent $9 million to keep the affected platform, Yearn Finance, afloat.
The move comes amid dYdX’s struggle to reach the $4 mark. DYDX was trading at $2.374 on November 1. By November 17, DYDX had risen by 68.3% to $3.996. Yet, following its network attack on November 18, DYDX’s value dropped considerably. By November 21, DYDX closed at $3.230, falling by 19.1%.
dYdX is one of the most popular go-to decentralized exchanges. Following the legal troubles facing Binance, analysts expect dYdX’s network usage to increase. Yet, some experts wonder if increasing its margin for less liquid markets will dissuade users from dYdX. If this happens, DYDX could decline further by 7% to $3.003.
Tron, one of the top DeFi projects, has struggled with price volatility in November despite the bullishness in the crypto market. Tron
