Today is the day when one of the largest crypto unlocks of the year occurres/occurred!

Optimism ($OP) tokens, the governance token of the Optimism network, are scheduled to happen today, with more than 386 million tokens worth $587 million becoming available. This unlock represents the end of the initial vesting period for early contributors and investors. The unlocking event is one of the largest this year and has raised concerns about downward price pressure.

The unlocking of such a significant number of tokens could potentially increase the circulating supply by over 100%. This has led to worries about potential selling pressure on the OP token, particularly from early-stage investors who have seen substantial returns. Some of the largest seed investors in Optimism, including Paradigm, Andreessen Horowitz (a16z), and IDEO CoLab Ventures, are massively up in profit, with some showing returns of over 10,000% on their initial investments. That's very tempting and I have no doubt some of the will dump for sure.

Optimism itself is a layer-2 scaling solution for the Ethereum network, aiming to enhance transaction speed, cost-effectiveness, and efficiency. The OP token is used for governance within the Optimism network. It's got a lot of of competitors in this particular function including OMG.

In this video I talk about what I think is going to happen when the unlocks start to happen.

You can monitor the unlocks here.

Peace & Love,

Adé