dYdX Launches First Solana Spot Trading Product for US Users

dYdX Expansion Announcement:

dYdX, a major decentralized exchange, announced the launch of its first spot trading product, aiming to expand into the US market and the Solana ecosystem.
The exchange has experienced over $1.5 trillion in cumulative trading volume since inception.
Trading fees are waived for December to attract US users.
dYdX's strategy includes enhancing market depth and deploying advanced trading tools while maintaining DeFi standards.
This move aligns with other exchanges like Robinhood launching new products for US residents.

Solana Market Analysis:

Solana derivatives show bearish sentiment with traders reducing bullish exposure.
Coinglass data indicates a significant leverage cluster at the $147 level, with $667 million positioned there.
SOL long positions are at $692 million, while shorts exceed $1 billion.
The $147 liquidity wall is crucial; surpassing it may lead to a rally toward $200.
If support at $125 fails, Solana risks declining to the $100 zone, where buyers might strengthen defense.

Solana Liquidation Map shows $667 million overhead leverage cluster at $147 | Coinglass, Dec. 11.