Wintermute Trading, a cryptocurrency trading firm, is divesting a significant amount of DYDX, a management token for the decentralized derivatives exchange, according to on-chain data.
The data shows that Wintermute Trading has deposited 653,295 DYDX worth approximately $1.37 million on various exchanges in the last hours. The firm currently holds 2.5 million DYDX worth $5.26 million in its wallets.
Launched in September 2021, the price of DYDX has dropped more than 92% from its all-time high of $27.78 in October 2021.
The price of the altcoin in question is trading at $2.04 at the time of writing and has lost 1.91% in the last 24 hours.
As it is known, DYDX tokens came to the fore with a large amount of unlocking in February. However, in a controversial decision, the unlock date of 156 million tokens, which should normally be unlocked on February 3, has been postponed to December 1. The maximum token supply of DYDX is shown as 1 billion units.