Whale Recently Sold a Large Amount of OP: On-Chain Data
The blockchain tracking firm Lookonchain tweeted earlier today that a whale recently made a large Optimism (OP) deposit to Binance. According to the post, the whale had sent 1.04 million OP, worth approximately $1.48 million. Shortly after making the massive deposit, the firm noted that the whale had sold some OP tokens at a loss. Lookonchain believed that the whale had done this out of fear of the upcoming OP unlock happening later today, which may result in millions of OP being dumped in the next 24 hours. At press time, the altcoin’s price stood at $1.47 following a 3.62% drop over the past 24 hours, according to CoinMarketCap. During this time period, OP also weakened against the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH) by 1.30% and 1.90% respectively. As a result, 1 OP was worth 0.00005426 BTC and 0.0007878 ETH. Daily chart for OP/USDT (Source: TradingView) The daily chart for OP/USDT showed that the altcoin’s price had been in a downward tren...