Saturday, February 24, 2024
Blockchain

Significant Unlock of Optimism’s OP Tokens Imminent, Wintermute Transfers a Large Batch to Binance

According to Token Unlocks data, a significant amount of Optimism’s OP tokens is scheduled for release on May 31st. A total of 386,547,056.64 OP tokens, equivalent to approximately $587 million and accounting for 9% of the total supply, are set to be unlocked. This includes 204,010,947 OP tokens for core contributors and 182,536,110 OP tokens for investors.

Furthermore, as monitored by Spot On Chain, Wintermute, one of the B-round investors of Optimism, has transferred 2.651 million OP tokens to Binance over the past 42 hours. The tokens, which were transferred at an average price of $1.63, amount to a total of $4.31 million.

Wintermute’s move comes ahead of the significant token unlock event, wherein OP tokens worth $587 million will be released on May 31st, representing 9% of the total supply.

It’s worth noting that the impact of such a substantial token release on the market could be significant, given the large value and volume of tokens involved. The market and the Optimism community will be closely observing the aftermath of this unlocking event.

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