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DYDX, GMT tokens accumulated by whales as they unlock soon

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The amount of dYdX (DYDX) and GMT (GMT) tokens in exchanges has been declining for the last few days, with several large-wallet investors moving large quantities of these coins out from Binance on Tuesday.

Whales are withdrawing large quantities of

and GMT withdrawn in large volumes On-chain data from Spotonchain shows that large wallet investors are pulling from Binance at an average price of $3.578 early on Tuesday. After the move, the whale has $1.12 million in unrealized gains on their supply is down by 5.5 million, while 2.06 million GMT tokens left exchanges. These declines occurred ahead of the upcoming unlock event for both tokens. Generally, a drop in the token’s supply reduces the selling pressure on an asset and paves the way for price gains. In the case of

 

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