Optimism's Release of Over $587 Million Worth of Tokens Causes 7% Drop in Prices

Over $587 million worth of Optimism tokens, a scaling protocol for Ethereum, will be released into the market on Tuesday as part of a planned unlock plan, causing a 7% drop in OP token prices.

The release of more than 386 million tokens will almost double OP's circulating supply, which currently stands at 335 million tokens.

Early investors may choose to take profits, leading to significant selling pressure, as the immediate liquidity available on OP token pairs across decentralized and centralized exchanges is less than $10 million.

Despite bitcoin and ether's gains of at least 50% since February, OP tokens have been on a general downturn, trading at $1.50 with a trading volume of $103 million over the past 24 hours.


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