Major tokens see sharp drops ahead of $650M investor unlocks
- DYDX, OP, SUI tokens dropped sharply ahead of large token unlocks this week, totaling almost $650M
- Token unlocks increase supply, allowing early investors to sell; often lead to price declines
- DYDX facing $480M token unlock Dec. 1, almost doubling supply
- Axelar dropped 10% as $18M of tokens unlocked Monday
- Bitcoin down 0.7%, broader CoinDesk Market Index fell 1.5% amid negative day in crypto