Optimism Unveils New Airdrop as OP Price Targets $5.70

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.

Read more: Best Upcoming Airdrops in February 2024

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.

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

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.