A large amount in 2023 altcoin will be unlocked and these coins will be released. The token unlock date of one of them is very close.
150 Million DYDX Altcoins To Be Launched
Decentralized stock market dYdX (DYDX) There will be a 150 million DYDX token unlock event on February 3 for the altcoin. At the time of this writing, this corresponds to approximately $195 million in tokens. The current market cap of the DYDX token is around $207 million.
With the token unlock event in question, another 15% of the altcoin’s total supply will be released.
However, analyst Miles Deutscher said that this situation is not necessarily interpreted in favor of the bear. According to Deutscher, there were developments in favor of the bull after token unlocking events in altcoins such as APE, SAND and GMT.
Deutscher also predicts that DYDX developers will make a big announcement near the token unlock period. Deutscher also warned that the token’s movements will largely depend on the state of Bitcoin (BTC).
dYdX (DYDX), Ethereum It is a decentralized exchange (DEX) built on the blockchain. users in a decentralized way using smart contracts. cryptocurrency It allows them to trade a variety of assets, including currencies and non-changeable tokens (NFTs).
The DYDX token is an ERC-20 token, meaning it runs on the Ethereum blockchain and can be stored in any Ethereum wallet that supports this standard.
*Not investment advice.
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