Optimism Slumps Ahead Of $30 mn Token Unlock
As the native token of the Ethereum scaling network, optimism (OP), prepares for a boost in its circulating supply this week, its price fell.
According to Token, an unlocking event for the token is planned for this coming Saturday. Unlocks, which will unleash 24.16 million OP, or 3% of its current supply, are estimated to be worth $30 million. The project’s primary contributors will receive about $16 million in assets, while investors will receive about $14 million.
According to statistics from CoinDesk Indices, OP has decreased 3.6% over the previous 24 hours, substantially underperforming the majority of range-bound crypto markets.
(With inputs from Shikha Singh)
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