dYdX Launches Its First Solana Spot Trading Product in US: Will Solana Price Surge?

Group 1: dYdX's Expansion and Product Launch - dYdX, one of the largest decentralized exchanges, is launching its first-ever spot trading product, aiming to expand its presence in the Solana ecosystem and increase its user base [1][2] - The exchange has surpassed $1.5 trillion in cumulative trading volume and is positioning spot trading as a key entry point to access the US market amid a more favorable regulatory environment [2] - To attract new users, particularly in the US, dYdX is waiving trading fees for December [2] Group 2: Market Strategy and Alignment - dYdX's expansion aligns with its strategy to enhance market depth and deploy advanced trading tools while maintaining transparency and self-custody standards [3] - The move is in line with centralized exchange Robinhood, which has also announced new product launches for US residents recently [3] Group 3: Solana Market Dynamics - Solana's derivatives positioning is predominantly bearish, with long positions dropping to $692 million while short positions remain above $1 billion [4] - The $147 level is identified as a significant liquidity pocket, with $667 million positioned there, which could trigger a rally if surpassed [5] - If the market extends its correction, the next support level to watch is $125, with potential declines toward the $100 psychological zone if that support fails [6]