November 15, 2023
Over the past 30 days, the price of DYDX token has more than doubled as speculators eagerly await its migration from Ethereum to the dYdX chain. However, there is a potential dampening effect on market sentiment due to a large token unlock scheduled in just over two weeks.
Currently, there are 179 million DYDX tokens in circulation. However, the upcoming token unlock will increase the circulating supply to 395 million tokens, according to token.unlocks.
While the recent price surge of DYDX token has generated excitement among investors, the upcoming token unlock may introduce increased supply into the market, potentially impacting the price. Investors should carefully consider this factor when making investment decisions.
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