Optimism (OP) braces for $24m token unlock: what to expect

Optimism (OP) traded at $0.79, slightly down on the day. While the risk asset market looked to begin the week on a positive footing, with Optimism likely to add to the past week’s 9% price increase, one major factor traders are aware of is the significant OP token unlock. Several altcoins, OP included, are set to see huge amounts of supply added to circulation this week. Historically, these unlocks have contributed to notable price movement. Is Optimism price poised for such? Optimism token price today According to CoinMarketCap data, the OP token was down 2.5% in the past 24 hours. However, the Ethereum layer 2 token’s value has seen a modest price increase of 9% surge this past week. Despite this, OP looks to have underperformed peers as most altcoins mirrored Bitcoin’s spike to above $95k. OP has seen a 34% spike in daily volume as the price records a slight dip. This has the market cap at $1.31 billion and down 2.5% amid potential profit-booking as the market weighs in upcoming OP token unlock. Details of the OP token unlock According to data by Tokenomist , OP is set to undergo a major token unlock on April 30, 2025. The unlock will release 31.34 million OP tokens valued at over $24 million at the current OP price. It means the altcoin is set to add about 1.89% of tokens to OP’s circulating supply. Tokenomist (prev. TokenUnlocks) @Tokenomist_ai · Follow 🟣 Weekly Insider Unlocks : 28 Apr – 4 May ’25🔥 183.4m+ 🔥Insider Unlocks Highlights 🔓 $SUI (0.90%) – $99.03m $OMNI (78.94%) – $37.31m $OP (1.89%) – $24.78m $REZ (14.80%) – $5.51m $DYDX (1.09%) – $5.37m $KMNO (6.17%) – $4.74m.( % of cir. supply) 7:14 am · 25 Apr 2025 32 Reply Copy link Read 3 replies Token unlocks, especially cliff events like this one, can introduce volatility and potentially lead to selling pressure. Historically, unlocks have resulted in short-term price dips due to increased supply outpacing demand. For OP, this risk is compounded by its recent underperformance compared to the broader market. Token unlock: what does it mean for OP price? While not the biggest cliff unlock in history, the over $24 million worth of tokens is a notable amount that could influence market dynamics. In January, OP price fell double digits amid overall crypto bloodbath and a 31 million OP unlock . However, Optimism’s strong fundamentals could be key. This includes over $423 million in total value locked (TVL) and $2.6 billion in bridged TVL. Overall investor confidence also remains high despite the impact of tariffs and broader market jitters. Although OP price could dip to $0.75 and even $0.70, the positive sentiment will likely provide a cushion. Nonetheless, traders might want to monitor market absorption and sentiment as notable catalysts to movement in the short term. The post Optimism (OP) braces for $24m token unlock: what to expect appeared first on Invezz

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