Skip to content Skip to sidebar Skip to footer

The price of Optimism’s native OP token is leading losses among the top 50 cryptocurrencies, falling as far as 10% on the week ahead of a $30 million token unlock.According to data from the tokenomics platform TokenUnlocks, 24.16 million OP tokens, which account for roughly 3% of the circulating supply, are scheduled to be unlocked on Sept. 30. The next OP token unlock is scheduled for Sept. 30. Source: TokenUnlocksAt current prices, the unlock will see a little more than $30 million worth of OP tokens hit the market, with $15.49 million going to core contributors and $14.26 million set aside for investors. Token unlocking events form a core part of many main cryptocurrency projects, with many teams choosing to gradually release tokens to the market instead of unleashing them all at once. Typically, however, unlocking events are viewed by investors as likely to put pressure on prices as a new supply of tokens becomes available for sale.The price of OP token has rebounded slightly in the past five hours. Source: CoinGeckoThe price of the OP token is currently trading flat on the day at $1.26 after experiencing a brief 3% rally in the past 5 hours, according to price data from CoinGecko. Related: Optimism transactions surpass Arbitrum, but what’s behind the uptick in users?Last week, on Sept. 21, Optimism revealed that it would sell $160 million worth of the OP token to private sellers as part of a planned sale. Starting today, there will be several transactions totaling approximately 116M OP tokens. We’re sharing as a heads up to our community that these are planned transactions.— Optimism (✨_✨) (@optimismFND) September 20, 2023

On Sept. 19, Optimism announced its third airdrop, with 19.4 million OP tokens allocated to more than 31,000 addresses participating in delegation activities relating to the network’s decentralized autonomous organization, Optimism Collective.Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.Asia Express: JPEX staff flee event as scandal hits, Mt. Gox woes, Diners Club crypto



Source link

Leave a comment

Our Company

Newsletter

Email

Email

All Cryptos Insider © 2024. All rights reserved.

All Cryptos Insider © 2024. All rights reserved.