NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Upcoming Optimism Unlock Threatens To Drag OP Below $1

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Optimism OP BEAR

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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.

Related Reading

Spot Bitcoin ETF

Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved

1 year ago

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.

Optimism OP unlock

24.16 million tokens set to be unlocked | Source: Token Unlocks

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 during similar events. In the case of the OP price, there is no need to look too far back as the last token unlock event happened only a month ago.

On August 30, Optimism unlocked an identical number of tokens and the price reacted negatively to this new supply. OP initially held tight around the $1.5 mark but once the unlock was completed, the price of the token nosedived, dropping from $1.5 to $1.3 in the span of two days.

Related Reading

Mixin network crypto hack

$200 Million In Crypto Lost As Mixin Network Comes Under Attack

1 year ago

This shows that token unlocks, especially with the size of the upcoming Optimism unlock, are inherently bearish for price. If the historical pattern holds, then the OP price could easily succumb to the bears and threaten the $1 mark. At the very least, the impact of this new supply could lead to a 10% decline, which would put the OP price just above $1.1.

Even now, OP is already feeling the impact of the incoming bearish sentiment. Over the last week, the price has plummeted more than 10%, bringing it below the $1.3 resistance.

Optimism (OP) price chart from Tradingview.com (token unlock)

OP price threatened with new unlock | Source: OPUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
Tweet123Share196ShareSend
Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin aproape de 120.000$ – vine un nou ATH?

După ultimul ATH de la mijloc de august, când Bitcoin a atins 124.500$, a urmat o corecție ce a venit...

antonio 8 hours ago
Ethereum

Ethereum (ETH) Mirrors 2021 Price Action As Bulls Target $10,000 By 2026

Ethereum remains one of the most controversial tokens in the present market cycle, considering its status as the second-largest cryptocurrency...

Semilore Faleti 12 hours ago
altcoins, bull run, altseason, trump crypto, crypto verwachting

Altcoins trekken miljarden na Fed cuts – altseason staat voor de deur

Nu bekend werd gemaakt dat de Federal Reserve renteverlagingen door gaat voeren, vonden er een aantal interessante ontwikkelingen plaats binnen...

Lars Diederiksen 13 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Price On The Verge Of Explosive Move: Here’s The Only Condition

Opeyemi Sule 4 hours ago
Ethereum

BlackRock Leads Spot ETH ETF Inflows With Over $500M, Ethereum Possibly On Track To $5,000

Scott Matherson 6 hours ago
Ethereum

Ethereum Taker Buy-Sell Ratio Falls Critically Low—What Happened Last Time?

Opeyemi Sule 8 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    2 days ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.