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OP Price:
$0.3 B
All Time High:
Market Cap:
$3.4 B

Circulating Supply:
Total Supply:
Max Supply:


The price of #OP today is $3.60 USD.

The lowest OP price for this period was $0, the highest was $3.60, and the exact current price of one OP crypto coin is $3.60047.

The all-time high OP coin price was $4.27.

Use our custom price calculator to see the hypothetical price of OP with market cap of BTC or other crypto coins.


The code for Optimism is #OP.

Optimism is 1.7 years old.


The current market capitalization for Optimism is $3,447,009,663.

Optimism is ranked #33 out of all coins, by market cap (and other factors).


There is a very large daily trading volume on #OP.

Today's 24-hour trading volume across all exchanges for Optimism is $258,578,055.


The circulating supply of OP is 957,378,568 coins, which is 22% of the total coin supply.


OP is a token on the Optimistic Ethereum blockchain.


OP is integrated with many pairings with other cryptocurrencies and is listed on at least 50 crypto exchanges.

View #OP trading pairs and crypto exchanges that currently support #OP purchase.


Note that there are multiple coins that share the code #OP, and you can view them on our OP disambiguation page.



We hate all of you, we’re building Pessimistic Rollups now

Optimistic Rollups are dead. We keep making transactions cheaper and you keep complaining that transactions aren’t cheap enough. We’re scrapping Optimism and introducing a brand new system which can finally be cheap enough for your broke asses.A bright vision We started Optimism with the hope of not only scaling Ethereum, but scaling the values that make Ethereum, well, Ethereum. We saw the state of Ethereum, curled into a ball in the corner of our parents’ basements, and cried, knowing that brutal fees would keep Ethereum limited to only the wealthiest degenerates. Our vision of bringing the light of Ethereum to every corner of the world could never be a reality when a single swap could run up to $100. But we wiped our tears away. We were Optimists. We would make Ethereum cheap again. We would figure out how to make Layer 2 a reality. With big, fat allowances from Papa Paradigm and Auntie a16z, and backed by their team of child laborers, we couldn’t be stopped. We started building. We started hiring. We started shipping. Optimism was unstoppable. It’s been more than a year now since we launched our Alpha Mainnet and a little over three months since we opened deployment to everyone. We went through a massive rewrite of our codebase to get rid of the (terrible) OVM 1.0 in favor of a new EVM equivalent system. Optimism has been running smoothly for a while now, and we’re investing heavily in the future. Our future...

Ether’s Phoenix

Humanity’s defining characteristic is its ability to organize and cooperate. We have devised a number of tools to do this — from language, religion, and legal structures, to rules on the highway — all are systems created to align our actions. Despite these tools, many current attempts to coordinate large-scale action are failing. Planetary health is in rapid decline. Open source software is underfunded. Public and common goods don’t receive the support they need to survive long term. Why is it that crucial things which stand to benefit all of us are being neglected and, more importantly, what can we do about it? In a moment where coordination is overshadowed by defection and common ground is hard to find, how do we choose the path which leads to a better future? Enter Ether’s Phoenix.Impact = Profit Imagine a world where every individual is awarded profit proportional to their positive impact. Distribute your software package for free, get paid proportionally. We can call this powerful equation the “fairness ratio,” where impact = profit. But how do we calculate that “impact?” Positive contributions are notoriously hard to measure. Not only do many public goods suffer from being “out of sight, out of mind”, but they may take an extended length of time to manifest and measure. The free market is our most popular tool to assess impact, but for these reasons and others it fails to adequately com...

Money Long, Team Strong

Laying Strong Foundation - It’s genuinely hard to overstate the excitement brewing at Optimism recently. After over a year on mainnet, the numbers say it all: Over $1B in gas saved by Optimism users, Thousands of contracts deployed, Three forks of Optimism’s code on mainnet, A year in crypto is a lifetime, and we’ve spent it relentlessly improving the architecture to provide the best-in-class developer experience, stability, and fee savings. This focus on DevEx now makes us the only EVM equivalent L2, providing full compatibility with all the top Ethereum developer tooling like Hardhat forks, transaction traces, etc. But it only gets better from here! — A Bright Future - We cut fees by over 30% in the last year and continue to push enhancements to the protocol that slash fees even further. Calldata compression is just weeks away from going live, and with it up to 40% additional savings. Our next major release, Optimism: Bedrock, will additionally enable theoretically optimal transaction submission costs via Cannon, our next-gen fault proof. On the horizon, we are contributing to EIP4844, which promises to reduce fees by up to 100x. Sustainable, sub-dollar transactions are no longer a question of if, but when. — Optimism 🔴✨ on Twitter: "Today on Ethereum #AllCoreDevs, our very own @protolambda presented EIP-4844: Shard Blob the potential to decrease fees by 100x for all ro...

Our Pragmatic Path to Decentralization

Uh Oh: Every L2 Has Upgrade Keys 😱. — There’s a difficult truth which often doesn’t come up when discussing layer 2 (L2) protocols: Every major L2 project has a trusted party which can execute protocol upgrades. Currently, this is the primary point of centralization for just about everybody, including us. If upgrade keys were to be compromised, all deposited assets in the L2 protocol would be at risk. Alternative L1s with bridged assets on Ethereum are vulnerable to similarly devastating attacks. Relying on the security guaranties of L1 in order to avoid this is a key part of the L2 vision. But we’re not quite there yet — in some sense, everyone is still selling a dream. Let’s talk about the dangers which cause L2 projects to maintain upgrade keys, how Ethereum itself has avoided those pitfalls, and how we can follow suit. — State of Layer 2 Centralization. — Your security is only as strong as your weakest link. The best encryption techniques cannot save you if your password is passwordpasswordpassword. So what’s the weakest link in the L2 space? You guessed it: upgrade keys. Every major L2 has some form of instant upgradability on their L1 contracts. This is good because it allows the projects to ship improvements and bugfixes, but it also ultimately means that a trusted third party has unilateral say over what the L2 balances are. This begs the question: what’s the point of having...

CANNON CANNON CANNON: Introducing Cannon

Or: Win $50k by Helping Us Hack geohot. — Today, we’re extremely excited to formally introduce Cannon to the world. Cannon is Optimism’s next-gen fault proof. Its initial implementation by geohot became the first public fault proof implementation that can run an EVM-equivalent L2. Oh, and it also enables the theoretical minimum calldata gas costs. From day 1, Cannon has been built with Optimism: Bedrock — our next major release — in mind. Cannon will become a foundation of Optimism for years to come. Today, we are taking our next step in realizing Cannon’s promise, by launching a bug bounty with up to $250k in prizes! Details can be found at the bottom. But what exactly is Cannon? — Cannon … - — … is EVM equivalent. — Cannon (github) is the world’s first EVM-equivalent fault proof implementation. Cannon allows us to run the unaltered EVM on L2 with no sacrifices. — … reuses the geth EVM. — Cannon takes a fresh approach to fault proofs compared to existing rollups, achieving true EVM equivalence: instead of re-implementing the EVM, it leverages an existing EVM implementation (geth!). In particular, minigeth — a minimally modified subset of go-ethereum (no JSON-RPC, no proof-of-work) — is compiled to MIPS, a Reduced Instruction Set Computer (RISC). RISC is designed to be as simple as possible. If you know anything about Optimism, you know that we ...

The Road to Sub-dollar Transactions, Part 2: Compression Edition

This post is the second in a series on the path to sub-dollar ORU transactions. For full context, check out the first! Optimistic rollups are rapidly gaining maturity. As we move beyond the “zero to one” phase, the name of the game is optimization–and the most tangible optimization is cost. Within the next month we will be decreasing fees 30–40% by deploying the first ever system-wide calldata compression on any production ORU network. Get ready. Looking further ahead, we have plans to unlock even more savings this summer as part of Optimism: Bedrock. This post dives into the nitty-gritty of calldata compression: in particular, how we evaluated compression algorithms, and how we will use them to pave the way to sub-dollar fees.Calldata Overview Optimism uses Ethereum as a data availability layer. This means that each transaction executed on Optimism is stored (but not executed) on Ethereum. Right now we store Optimism transactions in calldata. Multiple L2 transactions are batched up into a binary blob and the blob (plus some other info) is stored in the data field of the transaction. To later retrieve that data, we look at the body of transactions (which are stored in the blocks themselves). Because Ethereum blocks are saved, the Optimism chain can always be reconstructed from Ethereum. While storing data in the blocks is much cheaper than storing it in contract state, keeping historical blocks around forever does in...

ETHDenver: Rollup Recap

If you missed out on your OP merch, don’t forget — you can always make your own! It’s hard to overstate how much fun we had at ETHDenver last week. We’re still coming down from our post-conference high — the inevitable fallout from a week of unabated excitement and dopamine depletion. Call it the ETHDenver detox. While it’s true that all good things must come to an end, we can at least ease last week’s passing with a quick summary of its events in an attempt to make the glow last just a little bit longer. — What we worked on - It’s safe to say the Optimism team really made the most of ETHDenver 2022 — not only were we lucky enough to mingle with many community members (thanks to everyone who attended OP game night!), we also got to work building a few projects we’re very excited about. Our focus for ETHDenver was on potential improvements to Ethereum itself. — Data-blob-transactions (mini-danksharding). — You may have already seen the tweet thread by one of our team members summarizing the creation of the first data-blob-transaction prototype. If you haven’t, we highly recommend checking it out. — proto.eth on Twitter: "At @EthereumDenver we hacked together a full data-blob-transaction prototype! (a.k.a. mini-danksharding)Data blobs are the first milestone towards full ethereum sharding, enabling rollups like @optimismPBC to grow 100x in capacity.Her...

The Road to Sub-dollar Transactions Part 1: Slashing Fees by 30%

Sup nerds! Last month was Optimism’s 1-year mainnetiversary. We’re incredibly proud of this milestone — but the path is far from over. As rollups mature, the path to sub-dollar fees begins. About a month ago, we took the next step down this path, cutting transaction fees by about 30%. An average Uniswap trade dropped from $3.35 to $2.55, and at times has neared $1. Wonder how exactly we were able to accomplish this? Read on to find out! — Optimism on Twitter: "gmFees on Optimism just got a nice reduction! Fixed overhead was reduced from 2750 L1 gas to 2100 L1 gas and dynamic overhead was reduced from 1.5x to 1.24x.Fancy numbers, but what do they mean? 🤔Transactions are now about ~30% cheaper on average! / Twitter" - gmFees on Optimism just got a nice reduction! Fixed overhead was reduced from 2750 L1 gas to 2100 L1 gas and dynamic overhead was reduced from 1.5x to 1.24x.Fancy numbers, but what do they mean? 🤔Transactions are now about ~30% cheaper on average! — A Primer on Optimism Transaction Fees - In order to understand how we cut costs we first need to understand what makes up a transaction fee on Optimism. Fees are made up of 1) Rollup Costs: The cost of “rolling up” transactions into batches and submitting them to Ethereum (L1), and 2) L2 Execution Costs: The cost to run the transaction on Optimism (L2). For a deeper-dive, read “How Optimism Works” in the Optimism docs. 1)...

Disclosure: Fixing a critical bug in Optimism’s Geth fork

Funds Are Safu On February 2nd, the Optimism team was alerted by Jay Freeman (saurik of Cydia and Orchid fame) to the existence of a critical bug in Optimism’s Geth fork. The bug made it possible to create ETH on Optimism by repeatedly triggering the SELFDESTRUCT opcode on a contract that held an ETH balance. Analysis of Optimism’s chain history showed that the bug was not exploited (the bug seems to have been accidentally triggered on one occasion by an Etherscan employee but no usable excess ETH was generated). A fix for the issue was tested and deployed to Optimism’s Kovan and Mainnet networks (including all infrastructure providers) within hours of confirmation. We’d like to thank Infura, QuickNode, and Alchemy for their fast response times. We also alerted multiple vulnerable Optimism forks and bridge providers to the presence of the issue. These projects have all applied the required fix. If you are running a replica, please make sure to upgrade to l2geth version 0.5.11 as soon as possible or you may fall out of sync with the rest of the network. For those interested in more information about how the bug worked and was found, we highly recommend reading saurik’s detailed breakdown. We’re awarding the maximum bounty amount of $2,000,042 as part of our official Immunefi bug bounty program. We’re extremely grateful for hackers like saurik for helping to keep Optimism safe.Key takeaways We treat moments l...


Over 80% of Optimism (OP) Token Holders Stay Profitable Amid Market Turb...

    The beginning of this week saw a decline in the overall market capitalization of cryptocurrencies, dropping from $1.6 trillion to $1.5 trillion, indicating a day-on-day decrease of over 5%. This market downturn did not spare the native token of the Ethereum-based layer-2 Optimistic Rollup network, OP. Due to the broader market decline, OP incurred weekly losses of over 20%. Despite this, a substantial number of token holders maintained a profitable position. Optimism (OP) Poised for More Growth? According to the most recent analysis by Intotheblock, over 80% of OP token holders fall into this category. Despite suffering a price decrease of nearly 20% in the last 7 days, over 80% of $OP holders remain in profit. — IntoTheBlock (@intotheblock) January 24, 2024 Such a trend is viewed as positive for the crypto asset, indicating the resilience of long-term investors who have navigated through the market's volatility. It also underscores investor confidence for sustained growth in the future. The layer 2 scaling solution has witnessed massive growth over the past year, closely following its rival Arbitrum. A major turning point for Optimism was its Bedrock hard fork implemented on June 6 last year. The Bedrock upgrade was one element of a comprehensive set of proposals aimed at establishing a 'Superchain' comprising multiple blockchain networks that share the same software for enhanced security and interoperability. The pr... read More

Post-FTX Collapse, December Ushered in Optimism for Centralized Crypto E...

    Amidst a challenging backdrop where the crypto spot market witnessed its lowest activity levels in over four years, the downturn created a daunting scenario for centralized exchanges and market makers, exacerbated by the collapse of Sam Bankman-Fried's FTX in November 2022. This incident had a profound impact on investor trust in centralized entities, casting a shadow on the overall market depth. December 2023, however, brought about a notable shift in sentiment. In Q4 2023, centralized exchanges registered a spot volume of $2.99 trillion, marking a 125% rise from the levels observed in the preceding quarter. Centralized Exchanges See Turnaround in Spot Volumes According to CCData’s latest Exchange Review report, the overall trading activity in the spot market witnessed a substantial increase of 34.0%, reaching $1.34 trillion in December. This marked the peak monthly spot trading volumes for the entire year of 2023. Notably, it marked the third consecutive monthly rise in spot trading volumes and the highest levels observed since June 2022. Top-tier spot volumes, in particular, experienced a notable surge, rising by 35.5% to $950 billion. Lower-tier spot volumes also saw a significant increase of 30.5%, reaching $398 billion. Binance, OKX, and Bybit emerged as the top exchanges in terms of spot volume in November, outperforming other AA-A-graded exchanges. Within the Top-Tier exchanges, they collectively represented approximately 64.3% of the total volume, showing a sli... read More

Pullix (PLX), Shiba Inu (SHIB), and Optimism (OP) Creating Waves in the ...

    The DeFi market is once again buzzing with excitement as three prominent tokens, Pullix (PLX), Shiba Inu (SHIB), and Optimism (OP), take center stage. While SHIB and OP are already established DeFi coins, PLX is a Stage 5 presale star that has already raised $2.3M. Pullix (PLX): What You Need to Know Pullix (PLX) has been a rising presale star, capturing the spotlight with its innovative approach to DeFi. With a hybrid exchange that combines the best features of centralized and decentralized platforms, Pullix is redefining online trading. On this platform, you will find a high leverage starting at 1000:1, deep liquidity, and low trading fees. While significant exchanges like Coinbase or Binance only offer crypto trading, this unique platform enables the trade of cryptocurrencies and all asset classes. This promises to improve convenience for all parties involved. Traders may tap into the Forex market, which a 2019 Triennial Central Bank Survey stated saw a daily volume of $6.6T. The PLX native token is the main currency users will use on the platform while earning various benefits if they hold it. Perks such as reduced trading fees, access to specific asset classes, and more are obtained by holding the PLX token. But, what makes it stand out is its “Trade-to-Earn” model, which brings PLX stakers a percentage of Pullix’s daily revenue. This passive income capability is why over 5 million PLX tokens have already been sold in Stage 5. One PLX token costs ... read More

GitHub Glory Returns to Cardano; Avalanche and Optimism Make an Entrance

    New findings from crypto analytics firm Santiment provide interesting insights into the development activities of leading crypto assets. The data focuses on the top 10 crypto assets with significant GitHub commits in the last 30 days, with notable progress seen in Cardano, Polkadot, and Kusama. While Cardano reclaimed the top position, Avalanche has secured the fourth spot, indicating substantial development activity in December. Optimism, a notable Ethereum Layer 2 scaling solution, also entered the top 10 list. The heightened development activity suggests that developers have confidence in the long-term sustainability of these ecosystems, potentially signaling the introduction of new features. Cardano, for instance, is actively working on integrating 'partner chains' that aim to revolutionize the launch and operation of new blockchains through modular blockchain technology. These partner chains will enjoy benefits without being tied to any specific network or technology stack. Despite a relatively quiet year, Cardano has entered into a partnership with Brazil’s state-owned energy company Petrobras. As part of the program, Cardano will lead blockchain education workshops for the company's employees. Meanwhile, Avalanche has experienced significant on-chain activity, attributed in part to JPMorgan and Citi embracing the Layer 1 network for real-world asset (RWA) tokenization initiatives. This development is expected to be positive for the AVAX token, which has already ... read More

Optimism Price Up By 34% Today – But Investors Should Watch Out Fo...

    Optimism price has been witnessing significant momentum over the past few days, becoming one of the top gainers in the market today. Thanks to this recent price growth, Optimism has seen its native token OP lay a serious claim to a place within the top 30 cryptocurrencies by market capitalization. However, it seems that the Optimism price movement may soon be turning bearish following the appearance of a sell signal on the price chart.  Indicator That Preceded 80% Rally Turns Bearish, Analyst Says In a recent post on the X platform, crypto analyst Ali Martinez sounded the sell alarm for the OP token. According to the popular crypto pundit, the Optimism price might be in the best range for investors to cash in on their profits. The reasoning behind this forecast revolves around the TD (Tom DeMark) sequential indicator. Based on Martinez’s analysis, the indicator is currently flashing a sell signal on Optimism’s 12-hour price chart. The crypto analyst highlighted that a buy signal from the TD sequential indicator preceded a substantial surge in Optimism price earlier in December. And this adds even more weight to the possibility of a bearish turnaround following a sell alarm from the indicator. Martinez advised investors to think about taking profits right away, given that the OP price may decline and mirror the size of the initial bullish upswing. This projection comes during an exhilarating positive run for OP, putting the altcoin’s bullish trajectory ... read More

Bitcoin (BTC) Stalls Below $44K, Optimism (OP) Skyrockets 25% Daily (Wee...

    Bitcoin spiked to well above $44,000 on Friday, but its move was quickly put to a halt and has since struggled to come anywhere close to that level. Most altcoins are in the red today, with AVAX and DOT dropping the most from the larger-cap alts. In contrast, OP has gone on a tear once again. BTC Fails at $44K The primary cryptocurrency had a rocky start to the business week, as it slipped to $40,500 on Monday. However, that was short-lived as the bulls quickly interfered and propelled a price surge that drove the asset to over $43,000 on the next day. Another retracement came, which was followed by one more leg up that pushed BTC to over $44,000 on Wednesday. It couldn't sustain its run but went on the offensive once again on Friday. This time, the cryptocurrency charted its highest price tag since December 9 at $44,400. This turned out to be a false breakout, though. Bitcoin lost the momentum almost immediately and has returned to $43,500, where it stands now as well. Its market capitalization remains at just over $850 billion, and its dominance over the alts has regained some traction, currently standing at 51.5%. BTCUSD. Source: TradingView OP Soars Above $3 CryptoPotato reported the positive developments around the Optimism network that happened this year, including the massive increase in traction and user count. All this pushed the native token's price quite a bit in the past few days. In fact, OP is up again by an impressive percentage (25%) and trades close to $3.3 n... read More

OP Soars 30% to $3 as Optimism Network Addresses Witness a 391% Surge Si...

    Prominent Ethereum layer-two scaling solution - Optimism - has gained widespread popularity in 2023, addressing the demand for better alternatives, and its user base has soared this year. According to the latest data compiled by Intotheblock's data, the network now boasts over 5.9 million addresses with a balance, marking a substantial increase of 391% from the 1.2 million recorded in January. Optimism's User Activity Spikes As of December 22nd, the overall number of addresses on the Optimism Layer 2 network has increased to around 84.38 million. Although this number had been steadily growing, it wasn't until mid-September that the address count on the network experienced significant growth. In just the last three months, this figure has surged by over 843%. This notable increase can be attributed to the successful completion of Optimism's third airdrop on September 18th, which was part of the protocol's community incentivization and governance plan. During the event, a total of 19,411,313 OP tokens, valued at over $26 million, were distributed to 31,870 unique addresses. What a year for @Optimism! The network currently counts over 5.9 million addresses with a balance, up 391% from 1.2 million in January! — IntoTheBlock (@intotheblock) December 21, 2023 In addition to increased addresses on Optimism, the transaction count on the network also recorded a spike, demonstrating a significant increase in user activity as co... read More

Eyes On $50,000: Bitcoin Poised For Major Rally Amid Spot ETF Optimism &...

    Crypto analyst Michael van de Poppe has recently shared his latest Bitcoin price prediction on X. Van de Poppe has now set his sights on new heights for the flagship cryptocurrency. In a recent post, the analyst expressed confidence that Bitcoin has concluded its corrective phase and is primed to test the $47,000-$50,000 range soon. Van de Poppe's optimism stems from a critical market development: the potential approval of spot BTC exchange-traded fund (ETF) by major financial entities like BlackRock, Fidelity, and Ark Investment. This anticipated move, widely supported by industry experts, could catalyze BTC's leap. The SEC's expected nod in early January could unlock unprecedented market dynamics, propelling Bitcoin to new highs. #Bitcoin did test the lows, didn't take the liquidity beneath the lows. Anyway, correction seems over and pre-ETF we're likely to test $47-50K. Buy the dips. — Michaël van de Poppe (@CryptoMichNL) December 19, 2023 Meanwhile: Recovery Found In Key Supply Zone Amid the waves of predictions, Michael van de Poppe isn't alone in his bullish outlook. Ali, another market analyst, has raised concerns over Bitcoin's recent slip below a crucial supply zone, ranging from $41,200 to $42,400. Leveraging on-chain data from IntoTheBlock, Ali pointed out that this zone is a stronghold for 1.87 million addresses, cumulatively holding around 730,000 BTC. He warns that a breach below this level could trigger a sell-off, potent... read More

Gelato's Rollup Platform Expands Support to Optimism's OP Stack, Launchi...

    [PRESS RELEASE - Zug, Switzerland, December 19th, 2023] Gelato announces expansion of its all-in-one Rollup-as-a-Service (RaaS) Platform. In addition to supporting Polygon CDK, Gelato now also services the OP Stack, the Optimism Collective's open-source, modular development framework. As part of this expansion, Gelato enables Lisk, a Layer 1 blockchain launched in 2016, to join the Ethereum ecosystem by migrating to an Ethereum Layer 2. Lisk will join OP Mainnet, Base, and other OP Chains as the first Layer 1 committing to Optimism’s Superchain vision. 'Gelato's expansion of support to the OP Stack underscores our mission to revolutionize the blockchain arena. By democratizing access to a modular blockspace, we're empowering a diverse range of creators to deploy their unique, ready-to-launch Layer 2 blockchains. This pivotal move will unlock the full potential of mainstream crypto applications, marking a new era in blockchain adoption.' - Luis Schliesske, Founder at Gelato Designed to alleviate the congestion problem of the Ethereum mainnet, the OP Stack is the standard, open codebase that powers the Optimism ecosystem and was built to support the Superchain. By leveraging Gelato’s Rollup as a Service platform, in addition to deploying, hosting, and monitoring of new Layer 2 chains, the OP Stack now gains native integrations with Gelato’s industry-leading Web3 middleware services including automation, off-chain data, and Account Abstraction to enable su... read More

Optimism Price To Resume Bullish Trajectory To $3? Here's How

    The Optimism price appears to have struggled over the past week, with its recent bullish momentum seemingly waning. During the altcoin rally, the price of Optimism’s native token OP went from a low of $1.2 to a high of nearly $2.5 before experiencing a pullback.  While OP has managed to preserve a majority of its recently accrued profit, the cryptocurrency seems to be finding it challenging to continue its bullish trajectory. And the latest on-chain revelation suggests that there might be only one thing in the way of the Optimism price rise to a new high. OP Price To Soar By 26% To $2.70, Crypto Analyst Projects Popular crypto analyst Ali Martinez, in a recent post on the X platform, disclosed his bullish projection for the price of Optimism over the next few weeks. This prediction revolves around on-chain data from IntoTheBlock, which is based on the density of investors who purchased the OP token at certain price zones. The chart above displays how the Optimism price zones around the current value look in terms of investor density. The size of the dot indicates the number of investors who bought the OP coin at each price range. Notably, the resistance or support at a price zone is more significant the larger the dot size of that price zone. In his post, Martinez pointed out that the Optimism price is currently bouncing off a major resistance zone between $2.17 and $2.30. According to data from the analytics platform, roughly 27,000 addresses purchased a massiv... read More

A Whooping 56% Of OP Max Supply Not Assigned, What Does This Mean?

    According to Token Unlocks, a platform that tracks upcoming unlocking events, 56% of all the OP token maximum supply is in the to-be-discussed (TBD) allocation, meaning the community is yet to vote and determine where these tokens will be assigned to in the coming weeks or months. This news is a curious development, especially for OP Mainnet, the team behind one of the most popular Ethereum layer-2 scaling solutions, and OP token holders.  Billions Of OP Not Assigned Token Unlocks notes that roughly 2.4 billion OP, representing 55% of the max supply, remains under the TBD allocation. So far, over 831 million OP, or slightly above 19% of the max supply, have been unlocked.  This revelation also comes when OP prices have been trending higher, breezing past crucial resistance levels. At spot rates, OP is changing hands above September and October highs, temporarily retesting October highs. The bull bar of November 10 anchors the current leg up since it was accompanied by relatively high trading volume.  Token Unlocks defines a TBD allocation as not assigned a release timing but will be subject to community voting. These tokens can be distributed for governance, Retroactive Public Goods Funding (RetroGPF), ecosystem funding, moved to advisers or partners, and much more. RetroGPF is a funding mechanism that allows the protocol to support projects building solutions on its general-purpose layer-2 platform. Since it is retroactive, projects or developers don't hav... read More

Coinshares Report Shows Rising Optimism in Digital Assets Drives Stronge...

    While closing out October, the digital asset market has witnessed a significant rush in optimism, culminating in $326 million in fund inflows, marking the largest single-week gain in one and a half years, according to Coinshares latest digital asset fund flows report.Digital Asset Market Soars Higher With Record-Breaking Inflows This week's Coinshares report, Volume 155, highlights the rising optimism and a higher rate of inflows. Bitcoin (BTC) dominated the influx, capturing 90% of the inflows at $296 million, demonstrating market confidence despite recent price increases. Coinshares researchers also noted substantial inflows into various alternative digital assets. However, this renewed optimism did not extend to ethereum (ETH), which experienced a $6 million outflow. The report further indicates that the market is responding positively to the current conditions, with BTC leading the way in terms of investor interest and capital allocation. Interestingly, the research also notes a $15 million influx into short bitcoin investment products, highlighting a segment of the market hedging against potential future declines in bitcoin's value. Last week, BTC's climactic rise to $35,000, erased $232 million in short positions in a single day. Solana has also garnered increased investor interest, with $24 million in inflows reported. This suggests a broadening of investor interest beyond bitcoin, with alternatives like SOL gaining traction and capturing a substantial portion of mark... read More

Investor Optimism in Ethereum Grows – Is $2k Incoming as This ERC-...

    Ethereum’s (ETH) price has been on a steady uptrend in the last ten days, buoyed by growing institutional interest and optimism from retail investors. With ETH inching closer to $1,700, many analysts predict it could hit $2,000 before the end of 2023. Meanwhile, the new ERC-20 token Bitcoin Minetrix (BTCMTX) has also generated buzz after successfully raising $2 million in its ongoing presale phase. Ethereum Sentiment Shifts as Bulls Eye $2,000 The Ethereum Fear & Greed Index, a popular measure of market sentiment, currently sits at 55 – a noticeable shift towards “Greed” compared to recent neutral readings. This rise in sentiment coincides with Ethereum crossing the $1,600 barrier last Friday, with the token now hovering around $1,677 at the time of writing. ETH has posted three bullish daily closes in a row and is on track to post a fourth bullish close today, with the price sitting just below the 200-day Exponential Moving Average (EMA). Investors will be watching this area closely, as it acted as dynamic resistance on October 1 and forced the price down aggressively. However, Ethereum did post an entire bullish retracement candle on the weekly time frame last week, indicating that further upside movement could be imminent. This optimistic outlook is further supported by increased trading volumes, with CoinMarketCap data showing that over $7.5 billion worth of ETH was traded in the past 24 hours. ETH Faces Resistance at $1,750, Yet Momentum Remains... read More

Here's How Much APT, OP, AXS, APE, and Sui Will be Unlocked in October

    October is gaining significance as several noteworthy projects, including Axie Infinity, Optimism, and Aptos, are gearing up for significant token releases. The trio is set to release more than $130 million into the market collectively, with Axie Infinity having the largest increase in the circulating supply of its AXS token at 11.5%. Axie Infinity's AXS Token Unlock Leading in token unlocks this month is Axie Infinity, a blockchain-based NFT game. According to TokenUnlocks data, the project is set to release 15.1 million AXS tokens on Oct. 20, representing 11.5% of its circulating supply, with an approximate value of $71.8 million. The distribution of these tokens will primarily benefit the project's team, receiving $28.9 million, followed by $16.3 million allocated to staking rewards, $16 million for play-to-earn incentives, $8 million earmarked for an ecosystem fund, and $2.6 million going to advisors. This release comes after a previous unlock in July, which saw 3.4 million AXS tokens valued at $16.3 million enter the market. According to CoinGecko data, the price of AXS took a hit of almost 10% after the unlock. Optimism and Aptos Join the Token Unlock Wave Optimism is also set to make a token unlock this month. On Oct. 30, 24.2 million OP tokens, equivalent to 3% of its circulating supply, will be released, with a total value of $35.3 million. Of this amount, $18.6 million will be allocated to core contributors, and $16.7 million will go to investors. The OP token has d... read More

Optimism (OP) Climbs 6% A Day As Crypto Market Rebounds, What's Next?

    Optimism (OP) has posted notable gains today, October 2, trading at $1.45, with a 5% increase in the last 24 hours. Furthermore, its price has gained 15% in the last seven days.  OP's rise coincides with the improvement in the general crypto market, which showed a remarkable recovery. However, whether OP will sustain the ongoing rally remains to be seen. But a close look at a few technical indicators may provide vital insights into its next price moves.  OP Approaches Overbought Zone As Buyers Sustain Rally OP continues to show positive price momentum as buyers dominate the market. Also, it has formed a fifth consecutive candle on the daily chart, confirming active accumulation by traders. Its rally became prominent on September 29, when it broke above the Donchian Channel (DC) median band. OP flipped the $1.41 resistance level to support today and edges closer to the upper band of the Donchian Channel towards the $2.50 resistance level. If the buyers sustain the rally above the $1.50 resistance, OP will likely move into the overbought zone.  Additionally, the Moving Average Convergence/Divergence (MACD) has risen above its signal line, displaying a strong buy signal. Also, the Histogram bars are green, confirming that the buyers are still active. More so, the Relative Strength Index (RSI) indicator displays a value of 64.2 and is rising to the overbought region of 70.  Based on these indicators, OP will likely enter the overbought zone in the co... read More

Upcoming Optimism Unlock Threatens To Drag OP Below $1

    The Optimism native token OP is now in the line of fire with millions of tokens set to be released into circulation. This threatens the altcoin’s price which is already on a downward spiral after carrying out its 3rd airdrop. Optimism Set To Unlock 24 Million Tokens In the latest iteration of its token unlock events, the Optimism network is looking at over 24 million tokens being unlocked and brought into circulation. On-chain token tracking website Token Unlocks reports that the 24.16 million token is worth approximately $30.7 million at current prices. The token unlock event will take place on September 30, which is less than four days from the time of writing. This will see the equivalent of 3.03% of the total OP supply being released into circulation at once. This is coming just one month after the network locked an equivalent amount on August 30. Just like the August unlock, the 24.16 million tokens are allocated to two groups. 12.75 million tokens worth $16.19 million are going to Core Contributors and 11.41 million tokens worth $14.49 million will go to Investors. The Optimism unlock event is the largest of the over $54 million in token unlocks expected to happen over the next seven days. Other notable unlocks include SUI unlocking 4.9% of supply worth $16.92 million and Yield Guild Games (YGG) unlocking 6.7% of supply worth $2.55 million. Gauging The Impact on OP Price A good way to figure out how the OP price might react is to look at historical performance ... read More

Optimism To Sell 116 Million OP Tokens Via Private Sale: Will The Price ...

    Optimism has revealed its plans to sell 116 million OP tokens to seven private buyers. According to the update, this sale is for treasury management tokens.  Based on current prices, this sale will transfer approximately $159 million worth of OP tokens to the buyers. Given the sheer amount of the sale, some traders believe it will likely cause a decline in OP's price. Optimism Announces Sale OF 116 Million OP Tokens Following Third Airdrop Event  In detail, Optimism posted a community update on September 20 on selling approximately 116 million OP tokens. The tokens are from the unallocated portion of the OP Token treasury, and these tokens are part of the Foundation's original working budget of 30% of the initial OP supply. According to the update, the tokens are subject to a two-year lockup. During the lockup period, the purchasers can delegate the tokens to third parties for on-chain governance. Also, the announcement stated that from September 20, several transactions will take place with the released tokens. It noted that the transactions are pre-planned.  It bears mentioning that this token sale comes a few days after Optimism announced its third OP airdrop to reward community members for participation in on-chain governance. Optimism released over 19 million OP tokens to over 31,000 unique addresses.  Meanwhile, the OP community received the announcement with mixed reactions, with one user expressing disappointment. He expressed concerns that the to... read More

This New Development Could Stop The Optimism (OP) Price Dead In Its Trac...

    Optimism (OP) looks to be on a good recovery path so far in the month of September. This is thanks to the increasing positive user sentiment around the Ethereum Layer 2 network. However, the most recent development on the network could pose a threat to this recovery trend. Optimism Announces Third Airdrop After completing two rounds of airdrops already this year, the Optimism network has moved on to its third airdrop. This time around, the network is looking to reward loyal Optimism users who have delegated their OP to be used to participate in governance on the network. In its announcement, the team revealed that the latest iteration of its airdrop reward system would see 19 million OP tokens distributed to 31,000 unique addresses on the network. The airdrop distribution began on Monday, September 18, with the tokens being sent directly to the wallets of eligible users. The requirement was to have delegated OP tokens between January 20 to July 20 to receive the airdrop. To sweeten the pot, the airdrop applies a 2x multiplier to those who had delegated their tokens to individuals who were active voters. As for those who were ineligible to receive the latest round of airdrops, the team assured the community that more would be coming as 19% of the total OP token supply is dedicated to airdrops. What’s next? Eligible addresses are in the process of receiving OP for Airdrop #3. There is no need to claim this airdrop. Do not interact with any site asking you to do so. If... read More

Optimism Announces Successful Completion of Third Airdrop

    Optimism, an Ethereum Layer 2 blockchain, recently announced the successful distribution of its third airdrop. Known as 'Airdrop #3,' it distributed 19,411,313 OP tokens, equivalent to over $26 million, to a total of 31,870 unique addresses. Optimism's $26 million Airdrop Optimism recently took to X to announce the successful conclusion of its third airdrop, which occurred on Sept. 18. The airdrop, which is a part of the protocol's community incentivization and governance plan, saw a total of 19,411,313 OP tokens, collectively worth more than $26 million, distributed to 31,870 unique addresses. Today Optimism is announcing OP Airdrop #3. 19M OP allocated to over 31k unique addresses to reward positive-sum governance participation in the Collective. Read on for details on eligibility criteria and allocations. — Optimism (_) (@optimismFND) September 18, 2023 The airdrop specifically targeted users who delegated their OP tokens' voting power between January 20th and July 20th of 2023 to reward positive-sum governance participation in its community. To further incentivize active participation in governance, a 2x bonus was given to those delegated to an actively participating voter. To ensure the security of its users, Optimism made it clear that there is no claims page for Airdrop #3, and all distributions began automatically on Sept. 18 at 18:10 UTC.  Optimism also urged its users to ignore any sites claiming to disperse Airdrop #3, with a firm reminder: 'There is n... read More

Boosting Optimism Protocol: Can Incentives Drive OP Prices Higher?

    Optimism (OP) has been at the forefront of the blockchain industry with its incentive program, which recently led to the protocol's cumulative trading volume exceeding an impressive $3.8 billion. Analyst Ryan Holloway has shed light on the remarkable impact of Optimism's incentive program. The availability of OP trading rewards and incentives on various platforms, including Polynomial, played a pivotal role in this surge in usage metrics. The incentivization strategy employed by Optimism has proven wildly successful, resulting in an astounding 23-fold increase in trading volume for the protocol. This achievement, however, comes with a caveat, as it raises questions about the composition of this newfound trading activity. Just dropped an analysis with @t__norm on the impact of @PolynomialFi's OP incentive program that ultimately led to the protocol's cumulative trading volume surpassing $3.8B — Ryan Holloway (@raholloway) September 9, 2023 Rise In Trading Volume Masks Optimism’s Growth In Daily Traders While the surge in trading volume is undoubtedly impressive, a deep analysis reveals a more nuanced picture. The growth in daily traders has been relatively modest, suggesting the possibility of a significant rise in power users or, in a less favorable scenario, potential wash trading activities. But what exactly is wash trading? Wash trading involves artificially inflating trading volumes by executing simultaneous buy and sell orders fo... read More

Optimism Reverses From Range Low With 10% Gain – How Far Can Bulls...

    Optimism (OP) is proving to be a beacon of stability amidst the tumultuous fluctuations of the cryptocurrency market, particularly Bitcoin (BTC). While Bitcoin's price swings have left investors on edge, Optimism's weekly rally seems poised to extend its resilience. The cryptocurrency's price trajectory has demonstrated a notable rebound, bouncing back from its range-low of $1.41. This steadfast performance has entrenched Optimism within a trading range bordered by $1.80 at the upper limit and $1.41 at the lower threshold.  As bulls and bears lock horns in a battle for supremacy, the question looms: who will emerge victorious? OP Bulls Eye $1.8 Resistance As Momentum Grows As of the latest update, OP is priced at $1.57 according to CoinGecko, reflecting a slight 0.8% decline over the past 24 hours. However, the coin managed to register an impressive 10% increase in the last week. The momentum appears to favor the bullish contingent, as they prepare for a renewed assault on the formidable $1.8 resistance. A glimpse into historical data suggests that the bulls' determination might yield success in their second attempt.  According to this price analysis, favorable outcomes could propel Optimism towards take-profit levels ranging from $2.1 to $2.3. A faltering attempt to breach the $1.8 resistance would spell an extension of the range-bound pattern, giving the bears an opportunity to regain dominance by targeting the critical $1.41 support.  Network Growth A... read More

Optimism (OP) Continues Market Recovery As Network Whales Triple Holding...

    Additionally, key whale & shark addresses with 100K-10M $OP continue holding a high level, currently worth $781.9M. — Santiment (@santimentfeed) August 21, 2023 The analytics team reported that these investors currently hold 505.91 million OP worth around $781.9 million. Albeit, the token’s trading volume is up 54.83% in the last 24 hours and is valued at $137.08 million. read More

LK-99 and Cracking Bitcoin: A Quantum Leap in Optimism or Threat? Commun...

    In recent times, attention has gravitated towards a novel substance known as LK-99, celebrated as a potential wonder superconductor with the capability to usher in an era of lossless power transmission, more potent computers, and stronger magnets. Yet, as scientists have been laboring to replicate the LK-99 experiment up until August 5, 2023, the academic community has yet to formally endorse the superconductivity of this material. Even so, the dialogue has evolved into almost mythical conjectures, encompassing visions of handheld quantum computers and the dismantling of today's most robust encryption, as well as the theoretical ability to penetrate Bitcoin's cryptography.Bitcoin Community Responds to LK-99's Alleged Superconductivity and Possible Implications Since July 22, 2023, scientists have been invigorated by a new paper called 'The First Room-Temperature Ambient-Pressure Superconductor,' published by the researchers Sukbae Lee, Ji-Hoon Kim, Young-Wan Kwon. South Korean and Chinese researchers published preliminary results claiming the material now known as LK-99, reportedly allows electricity to flow without resistance at room temperature and standard air pressure. If proven and commercialized, a superconductor that provides these features could have wide-ranging impacts on technology and sustainability. The invention of the semiconductor changed the world as they have partial conductivity that can be precisely controlled, making them ideal for electronics. Supercondu... read More

Optimism (OP) Tallies 13% In 7 Days Despite High Profile DeFi Hack

    In the midst of the ever-changing cryptocurrency landscape, Optimism (OP) has shown remarkable resilience, posting a notable price increase of 13.53% in the past seven days. Despite facing a slight decline of 1.80% in the last 24 hours and a further 1.35% shrinkage within the hour, Optimism remains on an upward trajectory. With the current price sitting at $1.68 per OP and still 48.38% below its all-time high of $3.26, traders and investors are eager to uncover the reasons behind its recent gains. This article explores the factors contributing to Optimism's recent surge and analyzes its prospects. High Profile Hack Could Stall Optimism (OP) Bullish Trajectory  Optimism's positive trajectory took an unexpected turn when Coinbase's newly launched BASE network, built on the Optimism Stack, fell victim to a backdoor contract exploit. This unfortunate event resulted in the loss of 597 Ether, equivalent to approximately $1 million. The exploit involved infiltrating a backdoor contract on the BASE Chain, which enabled the continuous minting of tokens that were subsequently sold for profit. Furthermore, the hype surrounding BASE had attracted several new addresses to the Optimism network, potentially dampening investor sentiment and a subsequent impact on OP's price. The number of active addresses on the Optimism network increased following BASE's launch in late February. However, the recent hack may stall this growth, as investors might exercise caution in the wake of the exp... read More

Optimism (OP) Climbs Over 10% On Weekly Chart, Will The Rally Last?

    Following a slight improvement in the broader cryptocurrency market, Optimism (OP) has posted positive gains today, August 2. The token is now over 10% higher than seven days ago. Optimism’s gain has placed it among the top-gaining coins today, with a nearly 3% gain in the last 24 hours.  Optimism Price Action as Bulls Struggle to Prevail According to CoinMarketCap data, Optimism peaked at $1.6712 on Wednesday morning, an over 5% increase from its past-day price. Data shows that the perpetrator address already minted 40 different tokens, generating approximately 597 Ether in profit, which has been moved out. Speculations are that the exploit might impact all protocols linked to it, including the Optimism network, since BASE anchors the OP Stack. Also, the BASE hype attracted several new crypto addresses to the Optimism network. The recent hack may depress investor sentiment, potentially impacting OP's price. The number of active addresses on the Optimism network grew significantly over the last few months after BASE's launch in late February. However, this growth could be stalled due to the unfortunate event on the BASE network. OP Price Outlook; Will the Bulls Sustain the Rally? The OP/USD daily chart demonstrates OP’s bullish momentum as the bulls fight to secure higher market positions for the coin. OP has surpassed its two critical support levels, and the bulls show no sign of stopping, evident in the short green candlesticks formed above the $1.631... read More

Optimism (OP) Soars 6% Daily, Bitcoin (BTC) Dominance Declines as Price ...

    Bitcoin's price movements continue to be highly uneventful as the asset continues to remain just inches above $29,000. Most altcoins have mimicked BTC's performance, aside from DOGE, SHIB, UNI, and OP, all of which have jumped by more than 3% daily. BTC Boring at $29K It was precisely a week ago when the primary cryptocurrency tried its hand at taking down $30,300 but failed in its tracks, and the subsequent rejection pushed it south hard. In about a day, the asset had lost more than a grand and fell to a monthly low of just under $29,000. Nevertheless, bitcoin managed to bounce off and reclaim that level. What followed was almost a week of sideways price action, which saw BTC standing between $29,000 and $29,700. The latter came a day after the US Federal Reserve raised the interest rates by 25bps, something that has led to enhanced volatility in the past, but not this time. The past 48 hours have been particularly boring as BTC has stalled somewhere between $29,300 and $29,400. This means that its market capitalization has remained inches below $570 billion, but its dominance over the altcoins has suffered in the past week. The metric is down by more than 0.5% within that timeframe to 48.1% now. BTCUSD. Source: TradingView SHIB on a Roll Upon news about the launch of the beta version of the project's Shibarium, the largest native token - SHIB - began to rapidly increase in value, adding 5% yesterday and another 4.5% today. As such, the second-largest meme coin now stands ab... read More

Worldcoin's Launch Propels Optimism to Record-Breaking Daily Transaction...

    With the recent launch of Worldcoin's token, worldcoin (WLD), Optimism has experienced a surge in daily transactions, reaching an all-time high on July 27. Data reveals that 944,000 Optimism transactions were processed on Thursday, with WLD transfers closing in on 1 million.WLD Token Arrival Spurs Transaction Surge on Optimism: New Milestone Reached The Ethereum layer two (L2) network, Optimism, is reaping the benefits from Worldcoin's (WLD) debut as the token integrated with the L2 blockchain before its introduction. As of 11:03 a.m. Eastern Time on Friday, archived records show that 285,527 distinct addresses possess WLD, and thus far, WLD has recorded 887,482 transactions. As a result, Optimism's daily transfers have soared to new levels. For example, according to Dune Analytics data, Optimism's daily transactions reached 808,942 transfers on July 26, 2023. Taken together, the L2 networks Optimism and Arbitrum surpassed the number of Ethereum transactions; however, Ethereum processed more than a million and outperformed them individually. Archived statistics for July 27, 2023, demonstrate that 944,668 transfers were completed on Optimism, setting a new all-time daily record for the chain. Transacting on Optimism is significantly more cost-effective compared to Ethereum. Currently, the average transfer fee on Optimism stands at $0.334 per transaction. Meanwhile, Ethereum's average cost exceeds $2 per transfer. Initially, WLD was slated to be hosted on Ethereum; however, the... read More

BNB Chain's Q2 Performance Sparks Optimism Amidst Regulatory Uncertainty

    Binance Smart Chain (BNB) has seen significant growth in its daily active addresses and transactions in the second quarter of 2023, according to a report by blockchain analytics firm Messari.  The increase in activity was primarily driven by LayerZero, a cross-chain messaging protocol that enables lightweight and efficient communication between different networks. However, BNB's market cap declined by 25.2% after the US Securities and Exchange Commission (SEC) alleged that BNB is a security in its regulatory actions against Coinbase and Binance.  Despite this, the total cryptocurrency market cap increased by 2% quarter-over-quarter (QoQ), primarily driven by Bitcoin (BTC) and Ethereum (ETH). BNB Q2 Revenue Declines Per the report, BNB's revenue in BNB decreased by 6.1% QoQ as average transaction fees declined 25.5% after BSC validators voted to reduce gas fees from 5 to 3 Gwei.  Nevertheless, staking on the network remained stable. BNB Chain plans to increase the number of validators from 29 to 100 with a new validator reward model (balanced mining) and a validator reputation system. On the other hand, the Binance Smart Chain saw a decrease in total value locked (TVL) denominated in USD during Q2 2023, decreasing by 26.3%. However, TVL denominated in BNB was relatively flat at -2.8%. While PancakeSwap remained the most prominent protocol by TVL on the BNB Chain, its dominance decreased from 45% to 37% during the quarter, indicating a shift in TVL concentration... read More

Arcadia Finance Hit by $455K Exploit on Both Ethereum, Optimism Networks

    Non-custodial decentralized finance (DeFi) protocol, Arcadia Finance, is the latest victim of a $455,000 exploit that occurred on both the Ethereum and Optimism networks. Confirming the hack, Arcadia revealed that it is working with security partners to minimize the damage after pausing the contracts. The platform has also roped in law enforcement to deal with the issue. Blockchain security expert PeckShield was first to notify the attack on Arcadia and claimed that it was caused due to 'the lack of untrusted input validation,' which is exploited to drain funds from both darcWETH and darcUSDC vaults. The firm highlighted another vulnerability in the DeFi protocol - 'lack of reentrancy protection' - which enables instant liquidation to bypass the internal vault health check. The stolen funds from the Optimism network portion were washed on the controversial coin mixer, Tornado Cash. But the Ethereum portion of the stolen funds, worth over $103,000, continued to remain parked in a flagged wallet address. Arcadia has not yet confirmed the validity of the root cause identified by PeckShield, but it said that an investigation is being carried out. The protocol's latest statement read, 'We will continue to work with our security partners, law enforcement, and the broader community to resolve this as best we can. Our number one priority is recovering funds for Arcadia protocol users.' Arcadia is a non-custodial, permissionless protocol that was launched on Ethereum and Optimism i... read More

Optimism Braces for $587M OP Token Unlock Amid Dwindling Price

    Ethereum scaling protocol Optimism is gearing up for a planned token unlock scheduled for May 31st. As such, over 386 million OP tokens, worth more than $587 million at the current price, will be released, which represents 9% of the total supply. The upcoming event also marks the first unlock for core contributors and investors, which is scheduled exactly a year after the native token was launched. Optimism will unlock 9% of total $OP supply tomorrow This is the 1st unlock for core contributors & investors At current token price, potential selling pressure ~$600M — Token Terminal (@tokenterminal) May 29, 2023 Optimism's second major airdrop went live on February 9th this year, wherein it distributed more than 11 million OP tokens to 307,000 unique addresses. The price of the OP dropped shortly after the fact. The influx of tokens into the open market this time around could lead to heightened selling pressure and trigger a potential downward price movement as well. It is also important to note that early OP investors are currently sitting on considerable gains. Hence, if this cohort of holders starts offloading their tokens for quick gains, such a move could further contribute to the selling pressure. OP has been trading under tremendous pressure already and was down by over 30% in the past month. Leading up to the event, OP slipped to $1.52 after falling by more than 6% over the last 24 hours dragging the asset to a four-month low. The sc... read More

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