Optimism Foundation sells $90M in tokens amid market rally and token unlock anticipation

Optimism Foundation sells $90M in tokens amid market rally and token unlock anticipation
фото показано с : cryptoslate.com

2024-3-9 14:45

The Optimism Foundation said it entered into a private token sale of approximately 19.5M OP tokens, worth roughly $90 million, to an unnamed buyer, according to a Mar. 8 statement.

According to the Foundation:

“The tokens come from the Unallocated portion of the OP Token treasury, and are part of the Foundation’s original working budget of 30% of the initial OP token supply. “

The sold tokens will be subject to a two-year lockup period, during which buyers can delegate them to third parties for governance participation.

In a Mar. 7 post on social media platform X (formerly Twitter), the Foundation added that it is giving its community the “heads up” about several “planned transactions” that would emanate from its wallet.

“Starting today and over the coming days, there will be several transactions from Optimism controlled wallets totaling approximately 25M OP tokens. We’re sharing as a heads up to our community that these are planned transactions,” it stated.

Meanwhile, this move mirrors a similar action undertaken by the Foundation in September 2023 when it announced private sales of 116 million tokens, valued at around $157 million, to seven entities.

Optimism is the second-largest Ethereum-based layer2 network, controlling around 24% of the market, according to L2beat data. The network’s total value locked is approximately $9 billion as of press time, behind Arbitrum’s $16 billion.

OP price performance

Despite news of the recent sell-off, OP’s price has demonstrated tremendous resilience in recent months amid a broader market rally that has boosted Bitcoin and Ethereum’s prices to new highs.

During the past week, the layer-2 network’s token reached a new all-time high of $4.86 on Mar. 6, up more than 115% over the past year, with increases of over 20.9% in the last seven days and 36.38% in the past month. However, its price has slightly retraced to $4.60 as of press time.

Meanwhile, OP faces significant sell pressure ahead as the network is set to unlock 24.16 million tokens, worth approximately $110.65 million, by Mar. 29.

The post Optimism Foundation sells $90M in tokens amid market rally and token unlock anticipation appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Intelligent Trading Foundation (ITT) на Currencies.ru

$ 0.0031295 (+16.84%)
Объем 24H $12.938k
Изменеия 24h: 19.07 %, 7d: 24.57 %
Cегодня L: $0.0031295 - H: $0.0031295
Капитализация $30.715k Rank 2059
Доступно / Всего 9.815m ITT

foundation token tokens optimism according unlock anticipation

foundation token → Результатов: 126


У криптовалюты Litecoin появился новый логотип

Криптовалюта Litecoin, которую также называют «цифровым серебром», в рамках ребрендинга получила новый логотип. Так, при поддержке The Token Agency были созданы новые логотипы Litecoin, которые полностью свободны к использованию.

2019-1-25 17:56


IOTA Foundation partners with Crypto Storage AG on an institutional-grade IOTA token storage infrastructure solution

IOTA Foundation partners with Crypto Storage AG on an institutional-grade IOTA token storage infrastructure solution IOTA Foundation, a non-profit designed to support the development and standardization of new distributed ledger technologies (including the IOTA Tangle), has been working quite hard since the turn of the year.

2019-1-11 17:41


IOTA Foundation, Crypto Storage AG Partner To Offer The First Institutional-Grade mIOTA Token Storage Service

IOTA Foundation Joins Hands With Crypto Storage AG In A Bid To Offer The First Institutional-Grade IOTA Token IOTA Foundation has partnered with Crypto Storage AG, a subsidiary of Crypto Finance AG, to offer a storage solution through an institutional-grade token, which will be the first-of-its-kind for the crypto company. The storage solution is meant […]

2019-1-10 21:27


Фото:

TRON Weekly Report: TRON Is Aiming To Have More DApps Than EOS By the End of Jan

The Tron Foundation in its weekly report released on January 4, announced that it plans to overtake EOS regarding the amount of DApps on its network by the end of January 2019. Tron also reported that it had completed work on its wallet regarding token name duplication, and was continuing work on its wallet for test […] TRON Weekly Report: TRON Is Aiming To Have More DApps Than EOS By the End of Jan was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

2019-1-7 19:44


Фото:

Пользователи µTorrent будут получать вознаграждение в криптовалюте на базе TRON

Базирующаяся в Сингапуре BitTorrent Foundation выпустит монету BitTorrent Token (BTT) на базе протокола TRON. Основной функций BTT будет плата пользователям за раздачу файлов. Today we unveil our new token BitTorrent $BTT which features native TRC-10 compatibility and will be exclusively available to non-U.

2019-1-6 15:24


Litecoin Foundation будет спонсором поединка UFC

Фонд Litecoin Foundation окажет поддержку мероприятию Абсолютного бойцовского чемпионата (UFC). Согласно опубликованному 26 декабря заявлению фонда, он станет «официальным криптовалютным партнером» титульного поединка в полутяжелом весе между Джоном Джоунсом (Jon Jones) и Александром Густафссоном (Alexander Gustafsson).

2018-12-28 11:59


Latest Tron (TRX) News: Token Burn, New Listing and a $10k Donation By Justin Sun

As we wind down the year in the first days of November, the Tron (TRX) Foundation can be lauded for their continual communication with regards to the project’s developments. We have seen how efficient their communication team has been since the ICO was launched last year, till the activation of the Tron Virtual Machine (TVM) […] The post Latest Tron (TRX) News: Token Burn, New Listing and a $10k Donation By Justin Sun appeared first on Ethereum World News.

2018-11-2 16:14


CoVEX ICO

CoVEX is a blockchain-based financial ecosystem of FinTech services. The primary objective of CoVEX is to initiate meaningful changes within the crypto markets to allow a wide range of non-technical users also take advantage of the great potentials that the cryptosystems are offering.

2018-10-31 12:41