DYDX gains 80% in a week — What’s driving the DEX token rally? By Cointelegraph

Decentralized exchange dYdX’s native token DYDX surged by nearly 80% this week as traders assessed its potential against China’s recent ban on crypto transactions.

The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX decentralized exchange (DEX) that offers perpetuals, margin and spot trading, as well as lending and borrowing services to its users.