Token

Bitcoin

Optimism

Foundation

Amid an ongoing market correction, where top cryptocurrencies like Bitcoin are experiencing a price correction, Optimism, a Layer 2 Optimistic Rollup network, has initiated the sale of a massive governance token (OP) to private individuals. According to a recent announcement, theOptimism Foundation has begun selling 19.5 million governance tokens (OP) to private individuals, amounting to over $89 million.&nbsp; Where did Optimism Foundation sell 19.5 million OP tokens? 
These tokens come with a two-year lockup period, during which the buyer can delegate them to external parties for governance participation. The tokens originate from the Unallocated portion of the OP Token treasury, constituting 30% of the initial OP token supply in the Foundation’s original budget.&nbsp;
Additionally, details of the private sale, including terms and the buyer’s identity, remain undisclosed. The Optimism Foundation advises monitoring public OP token supply tracking for updates, with planned transactions in the coming days to distribute the OP tokens.
In addition to this private sale of OP tokens, on March 29, 2024, the Optimism Network is also set to unlock over 24.14 million OP tokens, valued at around $90.84 million. However, these substantial token unlocks represent only 2.40% of the Maximum supply of OP tokens. It is anticipated that the significant 19.5 million OP token sale and the <a href="https://news.todayq.com/3-bln-worth-tokens-set-to-unlock-in-march-2024/" rel="noopener noreferrer nofollow">upcoming token unlock</a> may impact the price of OP tokens. Optimism token price-performance analysis 
Currently, OP is trading near $4.6, with a 0.2% price movement in the last 24 hours. Looking at the performance of OP tokens over a longer period, in the last 7 days, OP tokens gained over 20% upside momentum. Meanwhile, in the last 30 days, OP token holders experienced a gain of over 37% on their investment.
In March 2024, a total of $3 billion worth of tokens are set to unlock. Thus far, SUI tokens have experienced an unlock of over 34.62 million SUI tokens. In the coming days, APT, ARB, APE, MANTA, PIXEL, IMX, ID, YGG, OP, and PRIME are expected to experience a token unlock.
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Optimism foundation initiates $89 million OP token sale, What’s next?

Todayq News

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