Overview

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Due to the dumping of these airdropped tokens, OP plummeted by nearly 73 percent over the last 24-hours. The asset was trading for a low of $1.27, at press time. Optimism (OP), the token powering Ethereum’s L2 scaling solution, lost almost 70% from its $4.57 listing price shortly after the highly anticipated airdrop. OP is trading Ethereum scaling project Optimism’s new OP token is down over 70% after launching via a community airdrop on Tuesday.According to data from CoinMa Optimism Network conducted a surprise token airdrop Thursday, sending 11.7 million governance tokens to more than 300,000 wallets, according to a blog post by the layer The airdrop allocated 10,368,678 OP to 54,723 unique addresses. Read on for more detail about eligibility criteria and allocations. Optimism Network, a layer-2 blockchain platform, is taking steps to broaden its adoption and increase its competitiveness in the market. The platform recently conducted a surprise token The surge in on-chain activity during the Quest was reportedly associated with speculation of a second airdrop by the Optimism team. In April 2025, Optimism

Optimism (OP) Token Plummets Over 70% Following Airdrop Details: What Happened?

Optimism (OP), the governance token powering Ethereum\'s layer-2 scaling solution, has experienced a dramatic price drop following its highly anticipated airdrop. OP is trading significantly lower after launching via a community airdrop on Tuesday. Many investors are asking: What caused this sharp decline?

OP Token\'s Price Plunge

The Optimism token experienced a loss of almost 70% from its initial $4.57 listing price shortly after the airdrop. Due to the dumping of these airdropped tokens, OP plummeted by nearly 73 percent over the last 24 hours. The asset was trading for a low of $1.27 at press time.

Airdrop Details and Token Allocation

The Optimism Network conducted a surprise token airdrop, distributing 11.7 million governance tokens to over 300,000 wallets. The initial allocation saw 10,368,678 OP sent to 54,723 unique addresses. This generous airdrop, intended to broaden adoption and increase competitiveness, has ironically led to significant selling pressure on the token.

Why the Price Drop After the Optimism Airdrop?

The primary reason for the massive drop in OP token price is likely due to a large number of airdrop recipients immediately selling their tokens. This "dumping" effect is common after airdrops, as many users are looking to realize quick profits. Speculation about a second airdrop, potentially fueled by increased on-chain activity during the Quest (reportedly associated with speculation of a second airdrop by the Optimism team), may have further contributed to the initial hype followed by the subsequent sell-off.

Optimism Network\'s Future

Despite the current price volatility, Optimism Network continues to take steps to broaden its adoption and increase its competitiveness. The platform recently conducted a surprise token airdrop Thursday, sending 11.7 million governance tokens to more than 300,000 wallets. Whether the price will recover remains to be seen, but the underlying technology and the broader Ethereum scaling solution it provides remain promising. Look for developments from Optimism in April 2025.

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