According to the dYdX Foundation, an on-chain governance vote has been created for the dYdX community. The proposal seeks approval for a whitelist update to the platform's VIP Affiliate Program, as detailed in the official announcement. Community members can cast their votes until the deadline on July 15, 2025, at 19:00 UTC. The outcome of this vote could impact the incentive structure for affiliates on the dYdX exchange, potentially influencing trading volumes and user acquisition strategies, which are key factors for traders monitoring the DYDX token's ecosystem health.

According to dYdX Foundation, the dYdX community has successfully passed a vote to approve a new VIP Affiliate whitelist for a program operated by Kuyen Labs. This new initiative provides a significant incentive for affiliates, allowing them to earn up to 50% of the taker fees from their referred users. The earnings are capped at a maximum of $10,000 per referral within any 30-day period, a move aimed at boosting user acquisition and trading volume on the decentralized exchange.

According to dYdX Foundation, a recent governance vote concluded with a decisive outcome, potentially impacting trader sentiment for the DYDX token. The vote saw a high turnout of 65.23%, with 37 out of 50 active validators and 426 accounts participating. The results showed an overwhelming 89.91% approval ('Yes' votes), with 0.00% voting 'No' and 10.08% abstaining. This strong consensus from both validators and token holders demonstrates clear community alignment on the proposal, a factor traders may view as a positive signal for the protocol's stability and future direction.

According to the dYdX Foundation, the dYdX community has successfully passed Proposal #259, resulting in the final cessation of support for the wethDYDX smart contract bridge on the dYdX Chain side. Effective immediately, wethDYDX tokens can no longer be bridged to the dYdX Chain as the bridge is now fully deprecated. This governance decision directly impacts the tokenomics and interoperability of DYDX, requiring traders and holders to adapt to the new on-chain reality.

According to Charles d'Haussy, the dYdX Foundation has published its bi-annual H1 2025 Ecosystem Update. The report is highlighted as being 'packed with insights and Alpha,' signaling potentially critical information for traders of the dYdX (DYDX) token. These updates, compiled from across the entire ecosystem, can provide a forward-looking view on protocol health, development progress, and strategic direction, which are key factors influencing the valuation and trading strategies for the DYDX token.

According to @lookonchain, the decentralized perpetual exchange GMX has suffered a major exploit resulting in the theft of over $42 million in crypto assets, as reported by blockchain security firm PeckShield. The stolen funds include $9.6 million in wrapped BTC (wBTC), $5 million in DAI stablecoin, and over $10 million in legacy Frax dollar. The report indicates that $9.6 million of the stolen assets have already been bridged to the Ethereum blockchain, a common step before laundering through mixers like Tornado Cash, while $32 million remains on the Arbitrum network where GMX operates. In response, GMX developers have publicly offered the attacker a 10% white-hat bounty for the return of the funds via an on-chain message. This incident adds to the growing security concerns in the DeFi space, which saw $2.5 billion lost to hacks in the first half of 2025, according to a CertiK report.

According to @lookonchain, a trader on the decentralized derivatives exchange HyperLiquid, known as AguilaTrades, experienced a significant reversal, turning a $10 million unrealized profit on a Bitcoin (BTC) long position into a $2.5 million realized loss. The loss occurred after BTC's price fell 4% from a high of $108,800 to around $104,000. The source notes this is a recurring issue for the trader, who previously converted a $5.8 million profit into a $12.5 million loss. This event highlights the risks of using high leverage in the current market, where Bitcoin has been range-bound between approximately $100,000 support and $110,000 resistance since May 9, repeatedly catching out directional traders.

According to KookCapitalLLC, Hyperliquid has surpassed Pump Fun in total fees generated over the past 30 days for the first time ever. This signals a significant shift in DeFi trading volumes, with Hyperliquid’s growing user base and trading activity potentially influencing liquidity and volatility across decentralized exchanges. Traders should monitor Hyperliquid’s fee trends as they could impact token prices and trading opportunities within the broader crypto ecosystem. Source: KookCapitalLLC on Twitter.

According to @DefiLlama, Hyperliquid, a decentralized derivatives exchange, has experienced a notable increase in trading volume and open interest over the past month, driven by growing demand for perpetual contracts and advanced trading tools. The platform's daily trading volume exceeded $2 billion on multiple days in June 2024, positioning it among the top decentralized exchanges by volume. This surge in activity reflects a broader trend of traders shifting from centralized to decentralized platforms following recent regulatory uncertainties affecting major exchanges like Binance and OKX. For traders, Hyperliquid's rising liquidity and competitive fee structure provide new opportunities for executing large trades with minimal slippage, especially for assets like BTC and ETH. Source: DefiLlama, June 2024.

According to @AltcoinGordon on Twitter, there is an imminent trading signal for the FtTSDNLD5mMLn3anqEQpy44cRdrtAJRrLX2MKXxf token, with the phrase 'Helmet STAYS ON' suggesting heightened volatility and the potential for a significant price movement or pump. Traders should exercise caution and monitor liquidity, order book depth, and unusual volume patterns on decentralized exchanges, as sudden surges may impact both short-term trading opportunities and portfolio risk (Source: @AltcoinGordon, June 20, 2025).

According to dYdX Foundation (@dydxfoundation), the dYdX Community has voted to officially end support for the Bridge on the dYdX Chain effective June 13, 2025. This decision means that dYdX Chain validators will no longer recognize interactions with the Bridge, specifically affecting transfers involving the wethDYDX Smart Contract. Traders holding DYDX should monitor on-chain liquidity and cross-chain transfer options, as this move could impact DYDX token availability, trading volume, and arbitrage opportunities across decentralized exchanges. Source: @dydxfoundation on Twitter.

According to Ai 姨 (@ai_9684xtpa) on Twitter, an on-chain transaction saw a single SPK token sold for $19,686.87 via a Uniswap V3 liquidity pool. This unusually high sale likely resulted from low liquidity or a mispriced pool, both of which can create significant price slippage and arbitrage opportunities. For traders, this highlights the critical importance of monitoring liquidity depth and price ranges when executing large trades on decentralized exchanges to avoid unexpected outcomes. Such events can also impact the broader crypto market by influencing SPK token price discovery and attracting arbitrage bots. (Source: https://twitter.com/ai_9684xtpa/status/1934895543882535148)

According to @coinbase, the exchange is rolling out a feature enabling users to access decentralized exchanges (DEXs) directly from its centralized exchange (CEX) interface. This means users can now purchase niche tokens not listed on Coinbase without leaving the app. The process of creating a Phantom wallet, saving recovery keys, purchasing USDC, transferring funds, and swapping on external DEXs is now automated in the background, streamlining entry for retail traders and reducing friction in token acquisition (Source: @coinbase, Twitter). This integration is expected to increase trading volumes on Coinbase, enhance USDC utility, and attract users seeking access to a broader range of crypto assets—all relevant trading signals for market participants monitoring liquidity and token availability.

According to MilkRoadDaily, Milk Road Swap has officially launched, introducing a simplified platform that allows users to trade cryptocurrencies directly through swap.milkroad.com. The platform is designed to offer seamless token swaps with an intuitive interface, targeting both new and experienced traders. This launch is expected to enhance trading efficiency, provide competitive transaction fees, and expand access to various crypto assets, potentially increasing liquidity and trading volumes in the decentralized exchange market (Source: MilkRoadDaily, June 12, 2025). Traders should assess platform security, supported tokens, and fee structure to optimize their trading strategies.

According to Milk Road, monthly decentralized exchange (DEX) trading volume has surged to nearly $400 billion, approaching levels not seen since the peak of early 2022 (source: Milk Road, June 11, 2025). This significant increase signals robust activity in the decentralized finance sector, suggesting heightened trader participation and liquidity. Such high volumes indicate strong market confidence and could impact price volatility and on-chain trading strategies for major cryptocurrencies like ETH and UNI. Traders should monitor DEX trends closely as this momentum could influence broader crypto market dynamics.

According to KookCapitalLLC, Hyperliquid is setting a new industry standard by offering full real-time market transparency and operating without venture capital involvement, making it fully community and contributor owned (Source: Twitter, KookCapitalLLC, June 11, 2025). This unique structure increases trust and aligns incentives for traders, positioning Hyperliquid as a powerful contender in decentralized exchange markets. Traders seeking transparent order books and ownership-driven governance may find Hyperliquid’s model particularly attractive for both short-term trading opportunities and long-term participation.

According to @KookCapitalLLC, there is a noticeable shift among Solana (SOL) maximalists as they start to recognize the rising influence of the Hyperliquid platform. This trend could signal changes in trading volumes and liquidity allocation within the Solana ecosystem, potentially impacting SOL price action and decentralized exchange activity. Traders should monitor Hyperliquid developments closely, as increased adoption may divert capital and on-chain activity away from traditional SOL DeFi protocols. Source: @KookCapitalLLC on Twitter, June 11, 2025.

According to @dydxfoundation, dYdX has officially launched Season 3 of its Surge Trading Rewards program, offering enhanced incentives for active traders on its decentralized exchange platform. The rewards structure is designed to increase trading liquidity and user engagement, with specific details and eligibility criteria available on the official dYdX website (source: @dydxfoundation, June 10, 2025). This development is expected to boost trading volumes and could impact DYDX token demand and price action in the short term, making it a notable event for cryptocurrency traders monitoring DeFi ecosystem performance.

According to @KookCapitalLLC, Hyperunit enables users to send native BTC, SOL, ETH, and Fartcoin directly to Hyperliquid and seamlessly trade these assets instantly. This innovation eliminates the traditional competitive advantage of centralized exchanges (CEXs) by allowing true cross-chain, native asset trading without intermediaries, significantly increasing trading efficiency and lowering counterparty risk (source: @KookCapitalLLC, June 6, 2025). For traders, this advancement means faster execution, greater liquidity access, and reduced reliance on CEXs, positioning Hyperunit as a pivotal development in the decentralized finance sector.

According to @DegenSpartan and various leading crypto analysts on Twitter, Hyperliquid has emerged as the most talked-about decentralized derivatives exchange in mid-2024. Its on-chain order book model, high leverage options, and zero-gas trading are attracting significant trader inflows and boosting platform volume (source: @DegenSpartan, @cryptonator1337). Traders are shifting liquidity from established platforms like dYdX and GMX to Hyperliquid, impacting perpetual futures liquidity across the crypto market. The rapid user growth and innovative features are influencing short-term volatility and generating new arbitrage opportunities for active crypto traders (source: DefiLlama data, June 2024).