Optimism OP token slips 10% in week ahead of $30M token unlock

The rate of Optimisms native OP token is leading losses amongst the leading 50 cryptocurrencies, falling as far as 10% on the week ahead of a $30 million token unlock.According to information from tokenomics platform Token Unlocks, 24.16 million OP tokens, which account for approximately 3% of the circulating supply– are arranged to be unlocked on Sept. 30. Source: Token UnlocksAt existing rates, the unlock will see a bit more than $30 million worth of OP tokens hit the market, with $15.49 million going to core contributors and $14.26 million set aside for investors. Usually nevertheless, opening events are viewed by financiers as likely to put pressure on rates, as a new supply of tokens becomes offered for sale.The cost of OP token has actually rebounded somewhat in the past 5 hours.

On Sept. 19, Optimism revealed its third airdrop, where 19.4 million OP tokens were allocated to more than 31,000 addresses that took part in delegation activities associating with the networks decentralized self-governing company (DAO), Optimism Collective.Asia Express: JPEX staff run away event as scandal hits, Mt. Gox problems, Diners Club crypto