OP token by Optimism, a second layer scaling solution for Ethereum (ETH), went on a roller coaster following a "turbulent launch" that led to unprecedented demand and caused delays on the Optimism blockchain mainnet.
The token, after briefly plunging to as low as USD 1.38, hit an all-time high of USD 2.10 in the early hours of its debut, and subsequently started a correction. At 7:35 UTC on Wednesday morning, OP is trading at USD 1.77, up by 23.8% over the past 24 hours, according to CoinGecko.
The Layer 2 (L2) scaling solution launched the much-anticipated airdrop of its OP token on late Tuesday, distributing free tokens among early users of the project who had interacted with the network before June 23, 2021, as well as early DAO voters, more than 24,000 Gitcoin donors, and others. The drop did face some issues, however, which the team said they were able to solve.
At 11am (EST) we deployed and loaded our MerkleDistributor contract with the OP tokens for Drop #1. Our biggest...
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