{"id":21286,"date":"2023-05-30T14:19:28","date_gmt":"2023-05-30T14:19:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/wintermute-sells-2-651m-optimism-tokens-on-binance-ahead-of-token-unlock\/"},"modified":"2023-05-30T14:19:28","modified_gmt":"2023-05-30T14:19:28","slug":"wintermute-sells-2-651m-optimism-tokens-on-binance-ahead-of-token-unlock","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/wintermute-sells-2-651m-optimism-tokens-on-binance-ahead-of-token-unlock\/","title":{"rendered":"Wintermute sells 2.651M Optimism tokens on Binance ahead of token unlock"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1685454555463-d106c011-2b52-41ec-a8c4-9a3e4a681882-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1685454555463-d106c011-2b52-41ec-a8c4-9a3e4a681882-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1685454555463-d106c011-2b52-41ec-a8c4-9a3e4a681882-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1685454555463-d106c011-2b52-41ec-a8c4-9a3e4a681882-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul class=\"decimal_type\">\n<li>386 million Optimism (OP) tokens will be unlocked on May 31,<\/li>\n<li>Wintermute transferred 2.651 million OP tokens to Binance and later sold all the tokens.<\/li>\n<li>The OP tokens were sold for $1.63 per token.<\/li>\n<\/ul>\n<p>In what is seen as avoiding losses, the <a href=\"https:\/\/coinjournal.net\/news\/tag\/defi\/\">decentralized finance (DeFi)<\/a> platform Wintermute transferred some of its Optimism (OP) tokens to a <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance\u00a0<\/a>crypto exchange wallet and sold the tokens ahead of the much-awaited OP token unlock.<\/p>\n<p>Optimism is scheduled to release 386 million OP tokens worth about $587 million to early investors and contributors.<\/p>\n<h2>The unlocked tokens \u2013 9% of the total OP supply<\/h2>\n<p>The unlocked tokens account for 9% of the total OP token supply and are expected to increase the token\u2019s circulating supply by over 100%. That said, the sudden surge in supply is expected by many to cause a slight drop in OP price, which is probably the reason why Wintermute offloaded its OP tokens.<\/p>\n<p>According to the on-chain analytics platform Spot on Chain, Wintermute accumulated 21.31 million OP tokens from <a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase\u00a0<\/a>and Binance at an average price of $1.01. The DeFi protocol has already sold 5.9 million tokens for a total of $10.6 million leaving the protocol with 15.37 million OP tokens worth about $23 million.<\/p>\n<p>Wintermute was one of the investors who took part in the Optimism Series B funding round which saw Optimism raise $150 million in addition to saving $1 billion in fees from Ethereum users.<\/p>\n<p>Optimism recently announced the date for its \u201cBedrock\u201d upgrade, which is expected to enhance the platform\u2019s compatibility with the <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum\u00a0<\/a>network and reduce transaction fees.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/wintermute-sells-2-651m-optimism-tokens-on-binance-ahead-of-token-unlock\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) 386 million Optimism (OP) tokens will be unlocked on May 31, Wintermute transferred 2.651 million OP tokens to Binance and later sold all the tokens. The OP tokens were sold for $1.63 per token. In what is seen as avoiding losses, the decentralized [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":21287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21286"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21286"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21287"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}