Weekly Narratives and Catalysts (November 28th)
• $DYDX will unlock 84.4% of the circulating supply worth $488M on December 2nd. However, these tokens will initially have restricted movement since major exchanges do not support the DYDX chain yet. Also, it has been rumored that investors plan to stake their tokens as all trading fees will be accrued to $DYDX stakers on V4, potentially building up to a bullish setup despite the large token unlocks
• Vertex Protocol has taken the spotlight as it is currently the largest perpetual DEX in trading volume and has a 50% revenue-sharing program with $VRTX Stakers. However, this trading activity might be inorganic, mainly farming driven by large incentives
• $LINK Staking v.0.2 starts on November 28th with the Priority Migration, followed by Early and General Access in December
• Following the successful proposal to cap $ATOM's inflation rate to 10%, its cofounder Jae Kwon has proposed forking the networking and launching a new $ATOM1 token
• Even though Blast attracted $600M in TVL in a week, deposits and $BLUR staking activity have slowed down significantly, potentially marking an exhaustion in the token after its huge rally recently
• $ILV's Illuvium Beta 3 game will be listed on the Epic Games Store on November 28th
• The GTA VI Trailer is expected to be announced on December 1st, with rumors that they might have in-game crypto mechanics. Gaming tokens that might benefit the most from this narrative might be $ILV, $GALA and $PRIME
• With the imminent launch of X's Grok AI, the memecoin $GROK has been acting as a proxy for betting on this event, quickly rising to a $200M market cap
• $SUI will unlock 7.9% of the circulating supply worth $45M on November 30th
• $1INCH will unlock 9.5% of the circulating supply worth $34M on December 1st
• $NEO Mainnet Upgrade will take place on December 4th