- DefiLlama announced yesterday that it started tracking OP emissions on its Unlocks Dashboard.
- According to the platform, just over 2.5 billion OP tokens will be unlocked after 2026.
- At press time, OP was trading at $1.36 after it gained 1.15% over the past 24 hours.
The DeFi analytics platform DefiLlama announced on Twitter yesterday that it started tracking Optimism’s OP emissions on its Unlocks Dashboard. According to DefiLlama’s data, it is estimated that just over 2.5 billion OP tokens will be unlocked after 2026.
This figure was generated by emissions from investors, the Optimism team, Airdrops, Retroactive public goods funding, and the ecosystem fund. Emissions are a process by which new tokens are created and then released into circulation. As a result, the supply of Optimism (OP) will be diluted, causing its price to drop.
Meanwhile, CoinMarketCap indicated that OP’s price was able to climb by about 1.15% heading into the new week. As a result, the altcoin was worth about $1.36 at press time. Yet, despite the crypto’s price rise, its weekly performance was still in the red zone at -0.08%.
Furthermore, OP’s 24-hour trading volume fell by more than 4% throughout the past day. This left its volume standing at around $84 million. Its market cap of $874,726,223 meant that OP was ranked as the 50th biggest crypto in terms of market capitalization. This placed it between Maker (MKR) in the 49th position and EOS in the 51st spot.
Daily chart for OP/USDT (Source: TradingView)
OP was trading above the 9-day and 20-day EMA lines at press time after it broke above the two technical indicators on Friday. Since then, a bullish technical flag was also triggered as the shorter EMA line crossed above the 20-day EMA line, signaling that the altcoin had entered into a short-term bullish cycle and its price would rise in the next few days.
Investors and traders will want to keep an eye on the 50-day EMA line, as OP’s price may attempt to break above the EMA in the coming week. Should OP successfully challenge the technical indicator, it may result in the altcoin flipping the resistance at $1.523 into support, which will ultimately clear a path for OP to rise to $1.817.
On the other hand, OP breaking below the 9-day and 20-day EMA lines today will put the crypto at risk of falling to the crucial support level at $1.230 in the following 48 hours. Continued sell pressure may even push OP’s price below this mark toward the next key level at $1.005.
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