Token Unlocks of the Week: According to Token Unlocks data, including YGG, DYDX, OP, 1INCH… and other projects, all of which will be unlocked in large amounts, with a total release value of more than $666 million.

• At 22:00 on November 27th, Yield Guild Games will unlock 16.69 million YGG (about $6.42 million), representing 5.84% of the circulating supply
• At 8 a.m. on November 28th, SingularityNET will unlock 9.39 million AGIX (about $2.92 million), accounting for 0.76% of the circulating supply
• At 23:00 on November 28th, dYdX will unlock 2.16 million DYDX (about $7.36 million), accounting for 1.2% of the circulating supply

dYdX’s 10-month extension is coming

It is worth noting that dYdX, which announced the extension of the token unlocking time at the end of January this year, will finally usher in a large unlock of 152 million DYDX (current price of about $513 million) on Friday, December 1, and these token shares mainly come from: investors, founders, advisors and employees, accounting for a whopping 84.41% of the circulating supply.

At that time, after dYdX was announced, the price of DYDX soared by as much as 173% in a month.

Official deliberate pulling?

On the other hand, the dYdX Foundation announced on October 27 that it will change the token economics so that DYDX token holders can earn the fees charged by the protocol (transaction fees, dYdX-denominated gas fees) by staking tokens and validating with nodes.

Coupled with the fact that dYdX officially launched its alpha mainnet at the end of October, becoming an open-source independent Layer1, and all transaction fees will be operated using $DYDX as the native token, all kinds of positive news have made DYDX usher in a 109% increase in a month.

The price of DYDX is now trading at $3.38 at the time of writing, which is a significant decrease from the volatility at the beginning of the month, with a slight decrease of 0.3% in the past 7 days.

Will the DYDX price fall?

Although up to 152 million DYDX will enter the market after December 1st, it is difficult to say whether this means that the price of the coin will fall sharply.

First, these tokens are mostly in the hands of investors and project teams, and they are usually traded less frequently than retail investors, and there are also rumors that they will re-pledge after release.

Second, every time a token is unlocked, it doesn’t always have to be selling pressure in the short term. Just like the BLUR token that was airdropped just last week, the price has also risen against the trend, so the real price trend remains to be further observed.

Source: Golden Finance