- 386 million Optimism (OP) Tokens shall be unlocked on Might thirty first.
- Wintermute transferred 2.651 million OP tokens to Binance and later bought all of the tokens.
- OP tokens had been bought at $1.63 per token.
To keep away from losses, decentralized finance (DeFi) platform Wintermute moved a few of its Optimism (OP) tokens to the Binance cryptocurrency trade pockets and bought the tokens forward of the long-awaited OP token unlock.
Optimism is scheduled to concern 386 million OP tokens, price round $587 million, to early traders and individuals.
Tokens unlocked – 9% of complete OP inventory
The unlocked tokens signify 9% of the overall OP tokens and are anticipated to extend the quantity of circulating tokens by greater than 100%. However, many anticipate the sudden improve in provide to trigger the worth of OP to drop considerably, which might be the rationale why Wintermute unloaded its OP tokens.
Based on on-chain analytics platform Spot on Chain, Wintermute has gathered 21.31 million shares. OP tokens from Coinbase and Binance at a mean value of $1.01. The DeFi protocol has already bought 5.9 million tokens for a complete of $10.6 million, leaving the protocol with 15.37 million OP tokens price round $23 million.
Wintermute was one of many traders who participated in Optimism’s Sequence B funding spherical, throughout which Optimism raised $150 million. USD, as well as, saved 1 billion. USD charges from Ethereum customers.
Optimism just lately introduced an replace date for Bedrock, which is predicted to enhance the platform’s compatibility with the Ethereum community and scale back transaction charges.
