The cryptocurrency platform dYdX is set to unlock $500 million worth of DYDX tokens for investors and team members on November 28, which represents 30% of the circulating supply. This unlocking may lead to selling pressure and has already caused a 7% drop in the token's price. The dYdX Chain has launched trading and rewards, with $20 million in DYDX tokens to be distributed to active users over the next 6 months. The trading volume on dYdX Chain has already surpassed $30 million in one day. Despite the significant token unlock, it may be difficult and unprofitable to sell the unlocked tokens.
Another 5 markets on dYdX Chain π«‘ Trade them now at https://t.co/v3TXeNvCwf https://t.co/unYDGlNxaW
Ready to learn more about the newly released dYdX Chain trading rewards? Join us, @dydxfoundation, and @chaos_labs in our town hall today. β°Β 9AM EST π€Β In Discord π https://t.co/IF6WQkTOUI
NEWS: $490 million worth of DYDX tokens unlock on Friday but may be difficult and unprofitable to sell https://t.co/sjS18Xd0HM
dYdX Chain has already passed $30M in trading volume in one day π
Trading is live on @dYdX Chain, with $20M of $DYDX to be distributed to active users over the next 6 months. Read more: https://t.co/4RftEu3DoK https://t.co/QPs7WS0GH5
Four new markets just went live on dYdX Chain! ππ₯³ You can trade them now at https://t.co/v3TXeNvCwf https://t.co/8otRelqtZK
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ICYMI: dYdX starts paying trading rewards for validators and stakers https://t.co/rVgzoh8WZ7
dYdX Chain trading is live and so are trading rewards π€Β πΈ Learn more about dYdX, the Chain, and the new rewards with our CEO and Founder @antonioMjuliano! β°Β Nov 29 11:15 AM EST: https://t.co/wX9hxJUzn5 https://t.co/wcfeGZ2Hgy
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50,000 daily dydx rewards, $20 million dydx additionally for the next 6 months, 1-click usdc into the chain... issa light day https://t.co/DczRP5fVMD
Rewards are now live on the dYdX Chain π€ π± Trading Rewards: instantly earn $DYDX rewards as you trade based on fees paid π° Launch Incentives: for next 6 months earn points for trading & providing liquidity on the dYdX Chain. Earn $DYDX with points https://t.co/tfCX77FW8i
1/ Trading and Launch Rewards are live on dYdX Chain! β¨ Traders can now earn rewards when they use dYdX Chain available via the @dydx_ops_subdao! Letβs dive into the details: https://t.co/MGiRUzBSMV https://t.co/BinqsKw5x7
dYdX and More: Million-Dollar Token Unlocks on the Horizon https://t.co/U5YgTLRVBk
dYdX and More: Million-Dollar Token Unlocks on the Horizon https://t.co/U5YgTLRVBk
The dYdX team is about to unlock 30% of DYDX supply to investors on the dYdX Chain, causing the price of the token to fall as much as 7%. https://t.co/OzzvP92X5h
ICYMI: DYdX to unlock $500 million of tokens, 30% of supply https://t.co/svomxPYjDG
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/𧡠Here is what you need to know. https://t.co/FszV999TIX
DYdX to unlock $500 million of tokens, 30% of supply https://t.co/eIrZfCcD9T
Crypto Watchlist for the week ahead: $LINK - Chainlink Staking v0.2 will go live on Nov. 28 $ATOM - ATOM Halving proposal was approved + other token upgrade proposals will be made soon $DYDX - $524M worth of DYDX will be unlocked for investors & team on Nov. 28. Yet those⦠https://t.co/mDh84aaPwc https://t.co/Qv6gtKjdrq