![As dYdX [DYDX] freezes out of Canada, how did its indicators perform](https://i.headtopics.com/images/2023/4/9/cryptoamb/as-dydx-dydx-freezes-out-of-canada-how-did-its-ind-as-dydx-dydx-freezes-out-of-canada-how-did-its-ind-1644831237243019264.webp)
dYdX announced the winding down of user access for Canadian users. The dYdX token was attempting recovery on a daily timeframe, while active addresses and volume declined. On 7 April, dYdX [DYDX] announced that the firm would begin the process of limiting access to its platform for users located in Canada. The first step involved […]
in the document. As a result of these stricter regulations, there is a possibility that more CTPs could exit the Canadian market in the future.Even before the aforementioned announcement, there had been a noticeable impact on dYdX’s active addresses. According to data from Santiment, there has been a decline in the number of active addresses since around 31 March.
While there have been attempts at recovery, the metric was still far below its earlier levels in the year. As of this writing, the number of active addresses on the platform was around 410.In addition to the decline in active addresses, its volume metric has also declined. Santiment’s analysis of the volume metric indicated a noticeable decrease, and while there has been some recovery, it remained relatively low.was over 59 million.
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