This New Development Could Stop The Optimism (OP) Price Dead In Its Tracks


19 Sep 2023 11:00 PM

Optimism (OP) looks to be on a good recovery path so far in September thanks to rising positive user sentiment around the network....

  • Optimism (OP) is experiencing a recovery in September due to positive user sentiment around the Ethereum Layer 2 network.
  • The network has announced its third airdrop, rewarding loyal users who have delegated their OP for governance participation.
  • The airdrop will distribute 19 million OP tokens to 31,000 unique addresses on the network.
  • Eligible users will receive the tokens directly to their wallets, with a 2x multiplier for those who delegated their tokens to active voters.
  • The team assures that more airdrops will follow, as 19% of the total OP token supply is dedicated to airdrops.
  • The distribution of $26 million worth of tokens could potentially create selling pressure and impact the OP price.
  • If there is not enough demand, the price may drop, but users being rewarded for holding tokens could lead to increased holding and qualification for future airdrops.
  • OP has seen increased interest and a 40% increase in daily trading volume, with the price currently holding at $1.40.

The overall sentiment in the article is mixed. There is optimism about the recovery of OP due to positive user sentiment and increased interest, but there is also concern about the potential impact of the airdrop on the OP price.

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You May Ask

What is the purpose of Optimism's third airdrop?How many OP tokens will be distributed in the third airdrop and to how many unique addresses?What are the requirements to be eligible for the airdrop?How could the distribution of tokens affect the OP price?What is the current trading volume and price of OP?

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