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On-chain Insights: dYdX and LSD Narrative
Key Takeaways
2 min read
  • dYdX Chain is set to launch in the coming year, with its private testnet going live recently bringing renewed attention back to the protocol.
  • LSD narrative continues to gain traction with significant inflows into staked ETH derivatives and major DEX trades including buying of LSD tokens in the past day.
  • Newer protocols such as Pendle and unSHETH has also been gaining attention and growing in TVL over the past week.


  • dYdX’s private testnet went live recently and has continued to receive attention ahead of its chain launch.
  • DYDX Token Movements:
    • CMS has been sending DYDX tokens from Binance to its own wallet, which holds over $1.4m worth of tokens currently.
    • Fresh Wallet labelled as Token Millionaire has increased its DYDX balance by over $361k in the past 4 days, mainly through swapping stables for DYDX on 1inch. ...