1. Token Unlock:

    • 386M $OP ($571) will be unlocked Today., accounting for 9% of the total supply.

    • This is the first unlock for core contributors and investors.

  2. Funding Rounds for Optimism:

    • Seed Round: Raised $3.5M on 15 Dec 2020.

    • Series A Round: Raised $25M on 24 Feb 2021.

    • Series B Round: Raised $150M on 17 Mar 2022.

    • Investors include Paradigm, IDEO CoLab Ventures, and Andreessen Horowitz (a16z).

    • Total financing amounts to $178.5M, allocating 730M $OP (17%).

  3. Whale Activity:

    • A whale recently deposited 1.04M $OP ($1.48M) to #Binance.

    • The whale withdrew $OP from #Binance whenever the price rose.

    • Average withdrawal price was $2.46.

    • Fear of the upcoming massive unlock may have led the whale to sell some $OP at a loss.

  4. Unlabeled Wallet Transactions:

    • Wallet 0xa202 dispersed 21.49M $OP ($23.26M) to 21 different addresses.

    • Wintermute Trading 0xdbf received the most, with 5.46M $OP ($8.03M).

    • Coinbase received a total of 3.76M $OP ($5.56M).

    • Six fresh addresses jointly received 4.25M $OP ($6.21M) from #Coinbase, averaging ~708.5K $OP ($1.03M) each.

    • The unlabeled wallet received 21.49M $OP ($32.19M) from 23 addresses over the past 8 days.

    • In the past 24 hours alone, it received 12.78M $OP ($17.14M) in total.

    • Twenty-two out of those 23 addresses received their $OP from wallet 0x1ea "OP Labs" in early April 2022.

    • Uncertainty remains whether this is part of the token unlock or an investor clearing out $OP.

  5. Market Impact:

    • With 386.5M $OP ($587.5M) expected to unlock today, traders should exercise caution.

    • $OP price remained stable around $1.61 for 6 days before a sharp drop 16 hours ago.

    • Potential selling pressure at the current token price amounts to approximately $600M.

Disclaimer: The information provided here is based on available data and should not be considered financial advice. Conduct thorough research and consult professionals before making any investment decisions.

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