The price of Optimism’s native OP token is leading losses among the top 50 cryptocurrencies, falling as far as 10% on the week ahead of a $30 million token unlock.

According to data from tokenomics platform Token Unlocks, 24.16 million OP tokens, which account for roughly 3% of the circulating supply — are scheduled to be unlocked on Sept. 30.

The next OP token unlock is scheduled for Sept. 30. Source: Token Unlocks

At current prices, the unlock will see a little more than $30 million worth of OP tokens hit the market, with $15.49 million going to core contributors and $14.26 million set aside for investors.

Token unlocking events form a core part of many main cryptocurrency projects, with many teams choosing to gradually release tokens to the market instead of unleashing them all at once. Typically however, unlocking events are viewed by investors as likely to put pressure on prices, as a new supply of tokens becomes available for sale.