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The Optimism (OP) community is buzzing with anticipation for one of the biggest token unlocks in February. The altcoin price has continued to rise, despite the potential sell-off that the 24 million OP tokens due to be released in the next weeks could inject.

Other notable top altcoins that have displayed signals of a bullish outbreak include Fantom (FTM) and KangaMoon (KANG). Let’s see how these altcoins do in the following weeks.

Optimism (OP) Bullish Ahead of Major Token Unlock

Optimism (OP) is one of the leading altcoins expecting the biggest token unlocks in February. On the 28th, Optimism will unlock 24 million tokens, which is worth approximately $72 million. This represents 2.5% of the OP circulating supply.

Despite the fear of a sell-off often linked with major token unlocks such as this, the Optimism crypto has managed to remain bullish. Recovering from its January low of $2.60, the OP token has increased by more than 16% over the last 14 days to rise above the $3 support level.

However, it is key that the Optimism crypto holds the support level ahead of the token unlock. If it manages to hold this support level, then the altcoin price could look to extend its gains. However, a breakdown could see Optimism return to the $2.6 level.

Analysts Bullish Ahead of Fantom (FTM) Mainnet Launch

In the fourth quarter of 2023, Fanton (FTM) performed its testnet launch for Sonic. There has been a lot of excitement around this upgrade as it promised to increase the throughput of the Fantom network by an outstanding 6,700%.

With the Sonic mainnet scheduled to go live in the spring of 2024, there are very bullish predictions for the FTM coin. This will make Fantom one of the most scalable blockchains and encourage the growth of a healthy DeFi ecosystem.

While Fantom has struggled to break out of the $0.400 range, retracing to $0.3500, there are hopes that the mainnet launch will inspire this rally. There are hopes that this rally could inspire gains of up to 100%, making

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Author: Crypto Daily

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