dYdX Unlocks Almost $14M in Tokens
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A new batch of 6.52 million DYDX tokens, worth $13.82 million, are set to unlock from the total supply of 1 billion DYDX tokens according to TokenUnlocks.
A large majority of the coins remain locked away from project-related investors (28%), community (16%), and trading stimulation (20%), with the team receiving 15%.
The price of DYDX tokens has dropped around 2% in the past 24 hours as they anticipate the next unlock.
The token is currently trading at $2.12, which is 92% lower than the high of $27.86 in September 2021.
Developers from dYdX launched a testnet last month, based on Tendermint and Cosmos protocols, in an effort to become more fully decentralized.
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