Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Tech Expert predicts Bitcoin of $ 1 million – ‘only one 10x left’

2025-05-09

American stablecoin legislation stops in the senate in the midst of partisely bickering

2025-05-09

Decentralized AI Society to run Hypercycle Masternode

2025-05-09
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Decentralized AI Society to run Hypercycle Masternode

    2025-05-09

    Agi Open Network Partners with AI Sim for Smarter, faster AI agents

    2025-05-09

    Hela Labs to redefine decentralized data possession in collaboration with Insight Genesis

    2025-05-09

    Hashkey chain reveals the puzzle game of the chains in the chains in collaboration with Zypher Network

    2025-05-09

    Superstate is spreading to Tokenized shares; Sol -Strategies to mention first

    2025-05-09
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    XRP analyst marks XDC for 3,350% starts as bullish statistics appear

    2025-05-09

    Trader says that the market is ready for a strong reversal after Bullish Move – here is his target for Ethereum and Altcoins

    2025-05-09

    Crypto analyst says the XRP price must remedy this level or risk fries to $ 1.9

    2025-05-09

    Trader says Bitcoin on CUSP to break out from Beerarish market structure, sketches path to new multi-month high

    2025-05-09

    XRP – Price breaks through obstacles – could a bullish peak follow?

    2025-05-09
  • Learn

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02

    What Are Utility Tokens? Types, Roles, Examples

    2025-04-17
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»What to expect as Optimism unlocks tokens worth millions
Altcoins

What to expect as Optimism unlocks tokens worth millions

2023-07-30No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • Though OP’s price action was bullish, its 24-hour trading volume registered a decline. 
  • Market indicators kept supporting the bulls, suggesting a further price uptick.

Optimism [OP] recently turned bullish as its price went up in the last 24 hours. However, the good days might not last long, as OP witnessed an increase in its circulating supply. Token Unlocks’ latest tweet revealed that OPs worth millions of dollars were released in the market on 30 July 2023. As the circulating supply increases, there are high chances of OP’s bullish rally coming to an end. 


How much are 1,10,100 OPs worth today         


The aftermath of the token unlock

After a week-long price decline, from nowhere, the token’s price gained bullish momentum. According to CoinMarketCap, OP was up by more than 4% in the last 24 hours. At the time of writing, it was trading at $1.56 with a market capitalization of over $1 billion.

However, the price uptrend was accompanied by a double-digit decline in trading volume, which is usually a bearish signal.

Things can turn worse in the short term as 24 million OP, which are worth over $36 million, were injected into the market. According to Token Unlocks, the newly unlocked tokens accounted for 3.56% of Optimism’s supply. As of now, 16% of Optimism’s total supply has been released into the market.

🚨 Notable Unlocks Alert 🚨

Tomorrow, 24M of $OP will be unlocked (worth $36.5 million)

Consists of: Core Contributors ( Team ) & Investors

There are 45 more unlocks of this size to come 🔥

Let’s see what the outcome of these unlocks will be 🔎

Link : https://t.co/2Rhyr8geUg pic.twitter.com/9dSOaUP40x

— Token Unlocks (@Token_Unlocks) July 29, 2023

Simply put, when supply increases, demand declines, which causes a drop in the price of an asset. Therefore, the chances of a halt to the OP’s bull rally seemed likely. Additionally, a look at the token’s on-chain metrics also gave a bearish notion, despite the recent price gains.

See also  More than 2 million tokens disappear, worth $636 million

For instance, its MVRV Ratio declined sharply last week. Negative sentiment around OP was dominant in the market, as evident from its weighted sentiment. The whale transaction count dropped, reflecting less willingness of whales to trade the token.

On top of that, Optimism’s open interest dropped. A decline in the metric usually means a trend reversal, increasing the chances of OP’s uptrend ending soon.

Source: Santiment


Realistic or not, here’s OP market cap in BTC‘s terms


Not everything is against Optimism 

Surprisingly, a look at Optimism’s daily chart revealed that the bulls were controlling the market. The Exponential Moving Average (EMA) Ribbon displayed a bullish crossover as the 20-day EMA flipped the 55-day EMA.

OP’s Relative Strength Index (RSI) was moving up. Its Money Flow Index (MFI) also followed the same trend, giving hope for a continued price uptick. Nonetheless, the Chaikin Money Flow (CMF) remained bearish as it was below the neutral mark of 0. 

Source: TradingView



Source link

Expect millions Optimism Tokens unlocks worth
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sol Price approaches a great resistance around $ 181 amide Altcoin Fomo

2025-05-09

Stellar [XLM] Snaps 8 months slide: Will buyers then push past $ 0.34?

2025-05-09

Ethereum breaks the key resistance in one solid movement – Higher High confirms Momentum

2025-05-09

Can Solana crack the barrier of $ 170? Yes – 3 reasons why

2025-05-09
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Bitcoin: What to Watch for After BTC’s ATH

2024-03-12

We need to talk about real assets (RWAs)

2023-11-13

A Dreamlike Digital Retail Experience

2023-08-25
Editors Picks

XRP a security again? Ripple’s historical pronunciation ignored – More inside

2025-04-22

Ladies of BAYC Launch ‘NOT A + 1’ Phygital Jewellery Collection

2023-08-30

Bitcoin trader bets $ 332 million against BTC for $ 85k – will it bear fruit?

2025-03-16

Binance issues risk warnings for tokens that have undergone tokenomics changes

2024-10-01
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Tech Expert predicts Bitcoin of $ 1 million – ‘only one 10x left’

American stablecoin legislation stops in the senate in the midst of partisely bickering

Decentralized AI Society to run Hypercycle Masternode

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,185.670.47%
  • ethereumEthereum(ETH)$2,347.346.57%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.372.98%
  • binancecoinBNB(BNB)$672.237.66%
  • solanaSolana(SOL)$172.175.95%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2085186.50%
  • cardanoCardano(ADA)$0.791.86%
  • tronTRON(TRX)$0.2640083.12%
  • suiSui(SUI)$4.011.03%
  • chainlinkChainlink(LINK)$16.141.89%
  • avalanche-2Avalanche(AVAX)$23.565.51%
  • stellarStellar(XLM)$0.3004002.22%
  • shiba-inuShiba Inu(SHIB)$0.0000156.06%
  • hedera-hashgraphHedera(HBAR)$0.2032224.45%
  • bitcoin-cashBitcoin Cash(BCH)$416.39-0.95%
  • hyperliquidHyperliquid(HYPE)$24.767.61%
  • the-open-networkToncoin(TON)$3.313.86%
  • unus-sed-leoUNUS SED LEO(LEO)$8.69-1.98%
  • litecoinLitecoin(LTC)$103.978.74%
  • polkadotPolkadot(DOT)$4.9610.02%
  • moneroMonero(XMR)$310.173.31%
  • bitget-tokenBitget Token(BGB)$4.601.54%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.00001313.83%
  • piPi(PI)$0.749.07%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.515.50%
  • bittensorBittensor(TAO)$431.701.74%
  • nearNEAR Protocol(NEAR)$2.945.99%
  • aptosAptos(APT)$5.641.01%
  • okbOKB(OKB)$55.215.15%
  • aaveAave(AAVE)$212.994.11%
  • ondo-financeOndo(ONDO)$1.022.78%
  • ethereum-classicEthereum Classic(ETC)$19.284.30%
  • internet-computerInternet Computer(ICP)$5.494.79%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.361.99%
  • gatechain-tokenGateToken(GT)$22.523.35%
  • kaspaKaspa(KAS)$0.1058276.95%
  • crypto-com-chainCronos(CRO)$0.1016632.62%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2552212.26%
  • render-tokenRender(RENDER)$5.025.92%
  • vechainVeChain(VET)$0.0301895.31%
  • mantleMantle(MNT)$0.771.64%
  • ethenaEthena(ENA)$0.3720519.15%
  • usd1World Liberty Financial USD(USD1)$1.000.15%
  • filecoinFilecoin(FIL)$3.043.32%
  • algorandAlgorand(ALGO)$0.2339413.33%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.848.28%
  • bitcoinBitcoin(BTC)$103,185.670.47%
  • ethereumEthereum(ETH)$2,347.346.57%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.372.98%
  • binancecoinBNB(BNB)$672.237.66%
  • solanaSolana(SOL)$172.175.95%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2085186.50%
  • cardanoCardano(ADA)$0.791.86%
  • tronTRON(TRX)$0.2640083.12%
  • suiSui(SUI)$4.011.03%
  • chainlinkChainlink(LINK)$16.141.89%
  • avalanche-2Avalanche(AVAX)$23.565.51%
  • stellarStellar(XLM)$0.3004002.22%
  • shiba-inuShiba Inu(SHIB)$0.0000156.06%
  • hedera-hashgraphHedera(HBAR)$0.2032224.45%
  • bitcoin-cashBitcoin Cash(BCH)$416.39-0.95%
  • hyperliquidHyperliquid(HYPE)$24.767.61%
  • the-open-networkToncoin(TON)$3.313.86%
  • unus-sed-leoUNUS SED LEO(LEO)$8.69-1.98%
  • litecoinLitecoin(LTC)$103.978.74%
  • polkadotPolkadot(DOT)$4.9610.02%
  • moneroMonero(XMR)$310.173.31%
  • bitget-tokenBitget Token(BGB)$4.601.54%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.00001313.83%
  • piPi(PI)$0.749.07%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.515.50%
  • bittensorBittensor(TAO)$431.701.74%
  • nearNEAR Protocol(NEAR)$2.945.99%
  • aptosAptos(APT)$5.641.01%
  • okbOKB(OKB)$55.215.15%
  • aaveAave(AAVE)$212.994.11%
  • ondo-financeOndo(ONDO)$1.022.78%
  • ethereum-classicEthereum Classic(ETC)$19.284.30%
  • internet-computerInternet Computer(ICP)$5.494.79%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.361.99%
  • gatechain-tokenGateToken(GT)$22.523.35%
  • kaspaKaspa(KAS)$0.1058276.95%
  • crypto-com-chainCronos(CRO)$0.1016632.62%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2552212.26%
  • render-tokenRender(RENDER)$5.025.92%
  • vechainVeChain(VET)$0.0301895.31%
  • mantleMantle(MNT)$0.771.64%
  • ethenaEthena(ENA)$0.3720519.15%
  • usd1World Liberty Financial USD(USD1)$1.000.15%
  • filecoinFilecoin(FIL)$3.043.32%
  • algorandAlgorand(ALGO)$0.2339413.33%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.848.28%