- OP is down almost a double-digit percentage in the past 24 hours.
- Optimism is set to unlock 155 million OP tokens, or 3.6%, of the total supply.
- OP will probably go down further due to potential insider selling.
Ethereum Layer-2 scaling projects are all the rage right now. However, their native tokens aren’t necessarily the best investment options.
For example, that’s evident in Optimism’s OP, which has been dumping non-stop in the past few days due to a colossal token unlock in a few hours.
Optimism Sinks Ahead of Huge Token Unlock
Optimism’s native token OP has been experiencing continuous dumping in the past several days.
OP is currently trading at around $1.37, down 7.7% in the past 24 hours, according to data from CoinGecko. The token is down around 13% in the past week.
OP has been trending downward because of one thing – a vast token unlock. On May 31 at around 12 AM GMT, 155…
