von • Optimism (OP) distributed 11.7 million tokens to active ecosystem users with a second airdrop.
• OP token reacted negatively to the news and went down by almost 9%.
• Despite the sharp decline in price, OP remains one of the best performing tokens since the start of the new year.
Optimism Airdrops Millions of Tokens
Optimism (OP) surprised its users with a second airdrop on Thursday, allocating 11.7 million OP tokens to those who have delegated voting power and spent more than $6.10 on layer 2 gas since March 25, 2022. A snapshot of the airdrop was taken on January 20, 2023 and Optimism stressed that users don’t need to claim their tokens if they’ve met the requirements, as they have already been sent straight to eligible addresses. The team behind the project also said that it’s going to do more airdrops in the future.
OP Token Reacts Negatively
On news of the second airdrop, Optimism’s governance token OP dumped significantly from 24-hour high of $2.54 to $2.32 following the announcement, according to data from CoinGecko. It’s currently trading at around $2.37, having gone down around 15% in the last seven days.
Performance Since Start of Year
Despite this sharp decline in price following its second airdrop, OP remains one of the best performing tokens since start of new year – increasing from $0.913 at start of year to an all-time high of $3.19 on February 3rd – an impressive 250% increase over just 6 weeks!
Unlock Schedule for 2023
Industry observers have pointed out that despite its impressive performance since start fo year, OP has one worst unlock schedules in 2023 – only around 214 million OP tokens out of total 4 billion are currently in circulation and approximately 5million worth is being emitted daily throughout monthf May & July this year before unlocking further supply later in year .
Conclusion
The second Optimism (OP) airdrop allocated millions fo tokens towards active ecosystem users but unfortunately caused token value drop shortly after announcement due lackof understanding about longterm potential for project & low circulating supply compared with other staking projects .However ,with multiple futureairdrops planned combined with impressive performance since start 2021 ,it remains clear that Optimism has ambitious plans ahead for continued growth & development throughout 2021 & beyond .
