May 31, 2023
SOC Team
Coinbase received hundred millions of $OP as part of token unlock
Related addresses
Total tokens transferred
100M
OP
Related transactions
- 100M $OP ($143.08M) were transferred from 7 addresses to Coinbase via mid-wallet 0xdfd.
- Similar to our previous signal, most of these $OP can be easily traced back to the “OP Labs” wallet 0x1ea that distributed $OP in Apr 2022.
It is most likely that the $OP covered in both of our two signals was part of today's unlocking process.
$OP price has dropped by 2.85% post-transfer to Coinbase and has been down by 9.37% over the past 24 hours.
#OP
#OP labs
#coinbase