Optimism (OP), one of the leading altcoins in the cryptocurrency market, is about to face a major token unlock event that could affect its price and supply.
OP has a total supply of 4,294,967,296 tokens, of which only 16.4% are currently in circulation. The rest is locked in various contracts for different purposes such as team, investors, ecosystem, community and treasury.
On July 30, 2023, at 07:00 (04:00 UTC) OP will unlock 24.16 million tokens worth approximately $36.24 million at the current price of $1.50 per token.
This represents a 3.56% increase in circulating supply and a 2.41% decrease in locked supply.
The OP price is up 0.67% in the last 24 hours, reaching a market cap of $1.02 billion.
Of the OP tokens to be unlocked, $19 million will be given to the main team contributing to the project and $17 million to investors. The next major key opening event for the OP will take place on August 30.
*Not investment advice.