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dYdX Foundation transferred a total of 141.53 million $DYDX, corresponding to $331 million, to new cryptocurrency addresses.
The first address, known as dYdX Foundation 0xf95, transferred all of its 112.87 million $DYDX ($264 million) to a new address, 0xe1b. This is particularly notable because address 0xf95 had been dormant for almost two years before making this move.
It is worth noting that while 102.5 million $DYDX, or 10.25% of the total supply, was expected to be unlocked last January, this decision was postponed until December 1, 2023. This postponement decision caused the price to increase by 87% within a week.
The second address involved in the incident was identified as dYdX: Token Wallet 0xcc9. 28.66 million $DYDX ($67.1 million) was transferred to a new address, 0xf4d. Despite this transfer, dYdX: Token Wallet 0xcc9 still holds a significant amount of $DYDX of 28,661,255 $DYDX ($68.2 million).
At the time of writing this article, $DYDX price is trading at $2.46, with an increase of 38% in the last year.
*This is not investment advice.