• Optimism held a second airdrop of 11.7 million OP tokens to users who have delegated the voting power of their OP tokens and spent more than $6.10 on layer 2 gas since March 25, 2022.
• The news caused the OP token to drop significantly in price, sinking from its 24-hour high of $2.54 to $2.32 following the announcement.
• Optimism has also said that it plans to do more airdrops in the future.
Optimism recently surprised its users with a second airdrop, allocating 11.7 million OP tokens to those users who have delegated the voting power of their OP tokens 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 users don’t need to claim their tokens if they’ve met the requirements – they’ve already been sent straight to eligible addresses. The team also mentioned that there are more Optimism airdrops planned for later dates.
OP Price Reaction
The news caused an immediate reaction in the price of OP token – it went down significantly following the announcement, sinking from its 24-hour high of $2.54 to $2.32 according to data from CoinGecko and currently trading at around $2.37 after losing 15% in value over the last seven days.. Despite this dip however, the token still remains one of 2021’s best performing projects so far after increasing by 250% since January 1st (from 0$0.$913).
Industry observers have pointed out that despite being one of 2021’s top performers so far, Optimism still has one of worst unlock schedules for 2023 – with only 214 million out of 4 billion total tokens currently in circulation and 5$1m worth being emitted daily per TokenUnlocks data..
Overall then despite this dip caused by this week’s news regarding another round of air drops by Optimism ,their governance token is still doing extremely well compared to most other altcoins throughout 2021 so far – having increased by 250% since January 1st . However due to its slow unlock schedule it may take some time before we see if these gains can be sustained moving forward into 2022 and beyond .
The takeaway here then is that while air drops such as these can cause significant movement within prices ,it is important for investors or traders alike not just pay attention to current market momentum but also try and gain insight into how unlocked or locked up coins are going affect prices further down line .