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Changes in DXDX – Uncertainty for Price Trend of Native Token
The price trend for DXDY, the native blockchain token for decentralized exchange platform dYdX, remains uncertain as the platform prepares to unlock a whopping $500 million worth of the state on December 1.
The planned token emission would see 83 million DYDX tokens granted to qualified investors, 50% of the original token-holder allocations. This accounting signals the release of 30% of its token pool on December 1. Previously, the plan was to release these tokens in February but was eventually postponed to December.
dYdX also looks to unlock more DYDX tokens until June 2020, which will greatly affect the already going down trend of the DYDX price, Monday afternoon reported a 7% downwards slip to 3.17 USD. Plus, big holders are said to have started their exits from these tokens to exchanges plus payment networks already.
Aside from DXDX, more dominant crypto projects are due to go through large scale token release scenarios in both December and February; which in total reaches a whopping $750 Million. Immutable ($50M), Optimism ($41M), 1inch ($33M), and Sui($40M). Unlocking of these tokens will most likely lead further downward pressure in prices So the key factor lies in the basic economics motion of supply and demand.
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