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The rate of Optimism (OP), the native cryptocurrency of the Ethereum (ETH) blockchain scaling solution, collapsed by 48% after the start of trading.
According to CoinGecko, the listing of OP on the exchanges took place on June 1. At first, the coin rose in price from $ 1.49 to $ 1.89, but then the downward trend began and by 20:00 Moscow time the value of the asset dropped to $ 1.10.
Dynamics of changes in the cost of Optimism
The collapse of the OP rate occurred due to the first stage of the airdrop, during which the creators of the virtual currency distributed 50% of the assets. Having received coins, many preferred to sell them on trading platforms and provoked the emergence of a bearish trend.
On the optimism discussion portal, one of the users advised to block the addresses of wallets whose owners sold OP immediately after airdrop. In this case, during the upcoming promotional campaigns, digital assets will be issued not to hunters for profit, but to members of the crypto community who want to develop the project.
However, this offer was not to everyone’s liking, because the purpose of distributing cryptocurrency is to attract new customers. Airdrop participants who sold their coins used the Optimism platform, respectively, the goal of the promotion was achieved.
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