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DYDX price rallies 10% ahead of 13.95M token unlocks

DYDX, the ticker for perpetual contracts decentralized exchange dYdX, remains bullish for almost two straight months despite the overall dormancy in the market and the lack of directional bias from Bitcoin (BTC). DYDX price has been on an uptrend since June 10, consolidating upwards along an ascending trendline. On July 31, the token surged by close to 10% within a 24-hour timeframe, bolstered by a 110% increase in trading volume. The bullishness comes ahead of the network’s token unlocks program, scheduled for August 1 at around 6:00 PM GMT. The event will see 13.95 million DYDX tokens added to the network’s circulating supply and will make up for 3.81% of its total supply.

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