Optimism drops ten% soon after eleven months of token dropping

Layer two network Optimism distributed eleven.seven million tokens to more than 300,000 wallets on February 9, rising its OP token circulating provide to 234.74 million.

Following the information, the OP token has dropped 13% in the previous 24 hrs to $two.33 at press time, in accordance to CryptoSlate information.

OP is 1 of the finest carrying out digital assets 12 months-to-date, up more than 200% considering the fact that Jan. one. Its favourable rate overall performance sees it hit a new all-time higher (ATH) was $three.two on Feb. three.

Optimistic airdrop

According to a statement on February 9, the goal of the airdrop is to reward “active total governance participation and successful users of the Optimism Mainnet.”

Scaling Solutions says the airdrop is aspect of a broader program to distribute 19% of its first governance of the token giving. Its 1st airdrop in May 2022 distributed more than 200 million tokens — about five% of its first governance token giving.

Eligible customers for the current airdrop consist of people who have invested far more than $six.ten on fuel considering the fact that March 25, 2022, and people who have authorized voting rights for their OP tokens.

According to Dune’s evaluation dataThe typical sum airdropped to customers is $38.13, though the highest sum is $ten,462.

Meanwhile, the transaction volume on the L2 network fluctuates amongst 160,000 – 200,000 considering the fact that the drop from the ATH of 800,000.