A lot of people were talking about the impending supply overhang from the DYDX token unlock, originally slated for Dec. 2022. The dYdX team recently announced this token unlock would be pushed back to Dec. 2023, and further clarified the decision in a blog post earlier today.

DYDX price action responded accordingly, breaking above a pretty important threshold set on the monthly chart. There’s not a ton of key levels for a while, so this could turn interesting if DYDX finds sustained demand going into February.