DYDX Pumps Ahead of Massive $500M Token Unlock

DYDX Pumps Ahead of Massive $500M Token Unlock

DYDX, the native token of the newly-released dYdX chain, has risen by more than 20% in the past 24 hours, just 16 days before more than $500 million worth of tokens will be unlocked to early investors and core team members.

The surge in the DYDX price comes as the project, previously just a decentralized exchange (DEX), launched its layer-1 blockchain based on Cosmos – a move that enables validators to receive a portion of trading revenue as a reward for staking.

Over the past 30 days, DYDX has more than doubled in price as speculators anticipated the token’s migration from Ethereum to the dYdX chain. However, a

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