CandleFocus DYDX gained 29% amid whale selloff, emerging as top gainer
2024-10-21
Author: Content Editor
dYdX's native token, DYDX, has experienced a 29% surge in the past 24 hours, reaching a trading price of $1.28. Despite a significant amount of tokens being sold off by large holders, the price increase was not affected due to increased accumulation. However, there has been a notable increase in token inflows to centralized exchanges, suggesting that some investors may be looking to sell off and take profits before a potential price drop. Analysis shows that the majority of DYDX holders are currently at a loss, leading some to reduce their losses while the token is still down from its all-time high in March. The CEO of dYdX recently returned after a six-month absence, highlighting the importance of vision and clarity in the company's direction.
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