How does staking PNUT affect the PNUT/USDT market?

How does staking PNUT affect the PNUT/USDT market?

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Staking PNUT locks tokens in smart contracts to earn rewards, reducing the circulating supply and potentially increasing market value. When large amounts of PNUT are staked, less supply is available for trading, which can drive prices up due to scarcity. Conversely, if a significant number of staked tokens are unstaked and sold, it may create downward pressure. Traders should monitor staking rewards and lock-up periods to anticipate possible market shifts in PNUT USDT and adjust their trading strategies accordingly.