Optimism’s February Buyback Timeline Fails to Arrest OP’s 8.8% Slide

OP traded near $0.27 after dropping 8.8% in 24 hours while the broader crypto market fell 5.26%. Token holders approved diverting 50% of Superchain sequencer revenue to buybacks starting in February, yet the delayed, $8 million plan covering roughly 1.5% of market cap has not stemmed selling pressure.