Optimism set to unlock $587M worth of OP tokens, will investors unload?
More than 386 million OP tokens are scheduled to be unlocked on May 31, more than doubling the total circulating supply. More than 386 million Optimism (OP) tokens — worth $587 million at current prices — are scheduled to be unlocked on May 31 as the initial vesting period for early contributors and investors comes to an end, prompting concerns about downward price pressure. The May 31 OP unlock is one of the largest scheduled unlocking events of this year. With a current total circulating supply of just 335 million OP tokens, the unlock could potentially see the circulating supply increase by more than 100%. Optimism will unlock 9% of total $OP supply tomorrow This is the 1st unlock for core contributors & investors At current token price, potential selling pressure ~$600M pic.twitter.com/g7sg1vXMkM — Token Terminal (@tokenterminal) May 29, 2023 According to analysis from token unlock research firm Unlock Calendar, there’s a reasonable chance that the Optimism unlock could crea...