Optimism Unveils New Airdrop as OP Price Targets $5.70
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Optimism Unveils New Airdrop as OP Price Targets $5.70
3 mins
By Bary Rahma
20 February 2024, 21:52 GMT+0000
Updated by
Bary Rahma
20 February 2024, 21:53 GMT+0000
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In Brief
- Optimism's fourth airdrop distributes over 10 million OP tokens to nearly 23,000 addresses, celebrating artists and creators within the Superchain.
- This token airdrop, marking the first to span the entire Superchain, supports creative contributions who are vital for community and ecosystem growth.
- Reward allocations emphasize engaging NFTs, with calculations based on the total gas used in transactions involving NFT transfers by eligible addresses.
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Optimism has rolled out its fourth airdrop, distributing over 10 million OP tokens to nearly 23,000 addresses. This initiative aims to acknowledge the diverse group of artists, creators, and innovators who have contributed to the culture within the Superchain.
The snapshot for the Optimism airdrop was taken on January 10, marking a key moment in the project’s efforts to engage with its community.
Optimism: 10 Million Token Airdrop
Optimism’s latest airdrop is notable for being the first to extend across the entire Superchain. This is a network of OP Chains increasingly collaborating to build a cohesive ecosystem. The move is part of Optimism’s broader strategy to support the creative endeavors to help expand the Superchain.
With over 200,000 NFT collections created on the Superchain, the platform has become a hub for artistic and creative expression. This environment underscores the importance of creative work in fostering a sense of community and shared purpose among participants in the Optimism Collective.
The eligibility criteria for the airdrop were specifically designed to highlight creators’ contributions. Especially those who have deployed NFT contracts on Ethereum L1, Base, OP Mainnet, and Zora before the cutoff date.
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Read more: Best Upcoming Airdrops in February 2024
Reward TypeCriteriaNumber of qualifying addressesReward allocationYou created engaging NFTs on the SuperchainTotal gas on OP Chains (OP Mainnet, Base, Zora) in transactions involving transfers of NFTs created by your address. Measured during the trailing 365 days before the airdrop cutoff (January 10, 2023 – January 10, 2024)9,2945,000 OP per 1 ETH of gas on the Superchain (i.e. 0.002 ETH of gas fees = 10 OP)You created engaging NFTs on Ethereum Mainnet50 OP per 1 ETH of gas on Ethereum L1 (i.e., 0.2 ETH of gas fees = 10 OP)15,0735,000 OP per 1 ETH of gas on the Superchain (i.e., 0.002 ETH of gas fees = 10 OP)Token Airdrop Allocation Criteria. Source: Optimism
The team planned the allocation of rewards, placing emphasis on engaging NFTs and the activity they generate on the Superchain. For instance, they calculated rewards based on the total gas used in transactions that involved transferring NFTs created by eligible addresses. This reflects a deliberate effort to recognize and incentivize meaningful contributions to the ecosystem.
Optimism also pledged to allocate 19% of its initial token supply to the community through airdrops. It indicated a long-term commitment to engaging and expanding its user base.
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OP Price Prediction: Further Gains
Within the context of OP’s market dynamics, an ascending parallel channel characterizes the governing pattern discernible in its price action. This technical observation gains significance with the recent retest of the middle boundary of said formation. Such a retest underscores the resilience of OP’s market position and hints at a potential trajectory for its value.
Given the established pattern, OP’s price has the capacity for an upward movement toward the channel’s upper boundary. This anticipated ascent could culminate in a 40% increase, positioning the OP price at approximately $5.70. This projection is rooted in a technical analysis framework considering historical price movements and patterns to forecast future trends.
Read more: Optimism vs. Arbitrum: Ethereum Layer-2 Rollups Compared
Optimism (OP) Price Performance. Source: TradingView
Investors need to consider this prediction within the broader market context. This includes market sentiment, overall cryptocurrency market trends, and potential regulatory developments.
While technical analysis provides a structured way to evaluate potential future movements, the inherently volatile nature of cryptocurrency markets means that such predictions should be cautiously and considered alongside a diverse array of market analysis tools.
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Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Bary Rahma
Bary Rahman, a talented journalist, graduated from New York University with a degree in Journalism. Skilled in SEO, she has worked with CNN, showcasing her investigative skills and storytelling abilities. In addition to her journalistic accomplishments, Bary has contributed her expertise as a content writer for Binance, crafting insightful articles on the dynamic crypto industry. Her unique fusion of journalism and SEO makes her a versatile and highly respected figure in the industry.
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