Decentralized derivatives exchange dYdX has delayed the unlock of its native DYDX token for investors from February to December, according to The Block. The report caused the price of DYDX to surge 21%. By oknightcrypto
and the DYDX token surged as much as 21% following the publication of its report. The token was lately trading up 15% to $1.95.
More than 150 million tokens had been planned to be released to early investors and dYdX founding team members on Feb. 3, but those plans have now been shelved until December. Now, 83 million of those tokens allocated to investors will be unlocked on Dec. 1, reducing the scheduled increase in supply next month.since the turn of the year, with tokens like aptos and axie infinity recently bucking the trend by rallying into unlocks, which are historically a bearish event as token supply increases.Updated with dYdX's blog post and latest price movement.
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