1. "Smart money" wallets, linked to skilled traders like DEX traders, liquidity providers, and venture funds, have seen a 30% increase in dYdX governance token holdings.
2. These #wallets now possess over 47.8 million dYdX tokens, valuing at $103 million.
3. The surge in token holdings is an indicator of growing confidence in the dYdX project and its potential.
4. Nansen's data reveals net outflows of dYdX #tokens from exchanges in the past 30 days, suggesting increased holdings by traders.
5. Despite the rise, "smart money" wallets collectively hold a small proportion of the total 1 billion dYdX tokens available.
6. dYdX is preparing to launch a Cosmos-based blockchain and is currently testing Version 4.
7. The #dYdX Foundation has discussed conducting a governance vote to decide the potential migration of dYdX tokens from Ethereum to Cosmos's Layer 1 as the native asset.
8. These developments point to the project's evolution and its efforts to expand its ecosystem beyond Ethereum.
9. The increase in "smart money" holdings reflects their active #engagement in the dYdX #community and its governance.
10. dYdX's plans highlight its commitment to innovation, interoperability, and its users' interests in shaping its future.
