The Reason Behind Optimism’s Price Correction, Are Arbitrum and Everlodge Good Alternatives
–News Direct–
In this article, we make sense of the fluctuating prices of Arbitrum, Optimism, and Everlodge, and explore their respective tokens ARB, OP and ELDG.
Optimisms token unlocks bring both good and bad
The Optimism token (OP) has been defying the odds and pumping hard despite extreme inflationary pressure over the last year. OP is up 225% this past year and 86% last month, massively outperforming Ethereum.
This epic rise has occurred despite OP's circulating supply quadrupling from 214 million tokens at the start of 2022 to over 911 million now. Typically such rapid token unlocking craters a cryptocurrency's value. And a few days after the token unlock we did indeed see a correction in the price, which is currently down 21% since its all-time high 10 days ago.
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