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Optimism price rises 6% after 24.16 million OP tokens unlocked

Optimism (OP) price is trading with a bullish bias, a rather unusual occurrence given the increased token supply in the ecosystem. It comes after a token unlocks event a few hours following this publication, where 3.56% of the total supply was unleashed. Optimism (OP) price is on an uptrend, recording 6.23% in gains on the day that saw the Ethereum Layer 2 (L2) token breach the resistance presented by the 200-day Exponential Moving Average (EMA) at $1.554. On the morning of July 30, the Optimism network unleashed 24.16 million tokens into the supply, representing 3.56% of the entire token bucket.

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