$OP Faces Pressure in the Near Term; the Core Reason Is That Over the Next Four Years, an Additional ~343 million OP tokens will be added to circulation. By year-end, the circulating supply in rotation may be close to 2.5 billion units, making the dilution outlook clearly more pronounced.
On top of that, the overall TVL for the L2 sector has fallen to a low of around $5 billion. Optimism is therefore facing not only its own unlock pressure, but also a double hit from sector-wide capital cooling.
In the short term, $OP is still in the phase of digesting its valuation and unlock expectations. Blindly bottom-fishing should be approached with caution; it may be more suitable to focus on marginal changes in the ecosystem’s real activity and the unlock schedule.
On top of that, the overall TVL for the L2 sector has fallen to a low of around $5 billion. Optimism is therefore facing not only its own unlock pressure, but also a double hit from sector-wide capital cooling.
In the short term, $OP is still in the phase of digesting its valuation and unlock expectations. Blindly bottom-fishing should be approached with caution; it may be more suitable to focus on marginal changes in the ecosystem’s real activity and the unlock schedule.