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November 15, 2023

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

Natasha Fernandez
Written byNatasha FernandezWriter
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
Natasha Fernandez
Natasha Fernandez
About

Natasha "CryptoQueen" Fernandez bridges the gap between blockchain buzz and casino charisma. From New Zealand's serene landscapes to the volatile world of crypto, she's making waves in the online gaming sphere. With CryptoCasinoRank, she paints a future where chips meet chains seamlessly.

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