DYDX price resisted a sell-off in light of the migration to dYdX chain and the adoption of version 4 of the project. Wintermute, a crypto market maker
V4 adoption and migration to dYdX chain
The unlock of $13.95 million worth of DYDX tokens failed to push the DEX token’s price lower, in light of the above vote and upcoming migration. While dYdX price resisted post-unlock sell-off, the likelihood of a price drop is likely now. DYDX price posted nearly 10% gains over the past week. Short-term holders are likely to capitalize on the gain, however there is no sign of such behavior among dYdX holders yet. Based on data from crypto intelligence tracker Santiment, there is no significant gain recorded in the token’s supply on
. This is a metric that helps track the selling pressure on the asset, no significant change supports a bullish thesis for DYDX price. The recent drop in supply, noted on August 29 is a positive development for the DEX token.Wallet addresses holding between 10,000 and 100,000 tokens, and 1,000,000 to 10,000,000 tokens are consistently accumulating dYdX since mid-June 2023. The accumulation trend is bullish for the asset and supports a spike in its price.
At the time of writing, DYDX price is $2.14, the asset has yielded 9.51% gains for holders over the past week.Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Governance proposal for upcoming dYdX Chain goes to Snapshot voteThe dYdX community is voting on a Wintermute proposal to upgrade to version 4 and introduce DYDX as the Layer 1 token for the upcoming dYdX Chain.
Consulte Mais informação »
dYdX price eyes 10% losses amid exit liquidity after 6.52 million DYDX token unlocksdYdX price shows signs of an impending downtrend, and for good reason, considering the network will unleash millions of DYDX tokens to the markets in
Consulte Mais informação »
Cryptocurrencies Price Prediction: Pepe, Curve DAO & dYdX — Asian Wrap 29 AugustPEPE, a frog-themed cryptocurrency, faced intense backlash after developers stole and sold nearly $15 million worth of tokens on the open market. This
Consulte Mais informação »
DYdX to unlock 6.52M tokens worth $14M for community treasury, rewardsDYdX investors hold the highest allocation at 27.7%, followed by trading rewards and community treasury at 20.2% and 16.2%, respectively.
Consulte Mais informação »
Yearn Finance Voters to Wintermute: Drop DeadOne of the biggest market makers in crypto is having trouble getting nearly free money out of Yearn Finance.
Consulte Mais informação »
Bitcoin metric with ‘100% long hit rate’ predicts $23K BTC price floorCan Bitcoin avoid further BTC price downside? $23,000 has major significance, new analysis says.
Consulte Mais informação »