The dYdX network unleashed 150 million DYDX tokens to the market on December 1.

  • The dYdX network unleashed 150 million DYDX tokens to the market on December 1.

  • Traders rode the associated volatility and now DYDX boasts almost 10% in gains hitherto.

  • The tokens were unlocked on the dYdX chain, which is not supported by any CEX yet.

  • dYdX (DYDX) token price is attempting a recovery rally after a bearish catalyst, the voluminous token unlocks, was priced in. Investors who anticipated the related volatility are sure to have made profit, with more incoming, potentially, amid rising momentum.

  • dYdX price on a recovery rally

  • dYdX (DYDX) price is up 6% in the last 24 hours, coming on the back of an unlocks event that saw up to 150 DYDX tokens unleashed into the market. The tokens were allocated to investors, founders, employees, advisors and consultants. The token’s price is pulling north, defying the narrative, as

  • as investors were likely to cash in for quick profit.  

  • 1/ 150M $DYDX($505.5M) was unlocked 2 hours ago and can be sold! We noticed that 3 whale wallets that received $DYDX from the dYdX Foundation Wallet have transferred 6.81M $DYDX ($21.46M) to #binannce dydx will unlock 150M $DYDX($505.5M, 81.63% of Cir. Supply) on Dec 1, of which 83.19M $DYDX($280.35M, 46.15% of Cir. Supply) unlocked to Investors.

  • Will unlocking bring huge selling pressure?

  • Did whales/SmartMoney buy or sell $DYDX?

  • 1/🧵

  • Here is what you need to know.

  • With three wallets, 0xD21B, 0x63C6, and 0xa70d still collectively holding more than 14 million DYDX tokens, it could mean more seller momentum is underway, despite the current climb.