DYDX, Optimism (OP), SUI, Axelar Prices Drop as $650M Crypto Token Unlocks Weigh

Token unlockings translate to an increase in the asset’s supply, releasing coins from a vesting period including to early investors. Large unlocking events usually lead to price declines due to the supply increase outpacing investor demand for the asset, a study by crypto analytics firm The Tie found earlier this year.