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November 15, 2023

DYDX Token Price Surge and Upcoming Token Unlock: What Investors Need to Know

Thando Dlamini
Written byThando DlaminiWriter
Researched byNikos PapadopoulosResearcher

Introduction

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.

DYDX Token Price Surge and Upcoming Token Unlock: What Investors Need to Know

Token Unlock

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.

Conclusion

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.

About the author
Thando Dlamini
Thando Dlamini
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Thando Dlamini, a vivacious 22-year-old from South Africa, seamlessly blends her love for the vibrant world of online casinos with her meticulous localization skills, making the digital gaming experience truly South African.

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