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ThecoinrepublicCryptoOptimism (OP) Token benefited by Arbitrum ArbiSwap...
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Optimism (OP) Token benefited by Arbitrum ArbiSwap collapsed?

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  • Arbitrum DEX ArbiSwap have rugged pull users after removing $100,00 from the platforms liquidity pools
  • Optimism (OP) outperform Arbitrum in terms of user retention said Messari
  • ArbiSwap’s native ARBI token fell $1.50 to fraction of cents in past 24 hours

Arbitrum aims to speed up transaction times and cut fees on Ethereum blockchain..

Arbitrum Decentralized Exchange Arbiswap offered a Swap of various cryptocurrencies for low fees on its platform and advertised giving back 100% of all generated revenue to holders of ARBI, which is likely to give quick interest for Arbiswap among users.

Massari published a report and mentioned, Arbitrum may have relied on organic growth whereas Optimism (OP) concentrated on providing incentives to users to reach 3 million user base in the previous year. As per the report, In the short term 35 to 45% of the new users were retained by both Arbitrum and Optimism, although Optimism retained a larger percentage of its long term user base. 

Optimism (OP) Token – Technical Analysis

OP/USDT daily chart by tradingview

Optimism (OP) token price is in positive trend and have succeeded to keep the prices above the 50 and 200 day EMA which indicates the strength of bulls but from the past couple of days Optimism (OP) prices seems to be lacking momentum on the the higher levels and reversing in the downward direction, which has created concern for the short term bullish traders. However, the prices are still holding the 200 day EMA which may act as an important support level if the sell off continues from the current levels.  

The technical indicators of the Optimism (OP) token prices like MACD had generated a negative crossover and the RSI at 45 sloping down denotes more room for downside is open for the bears. However, if the market sentiment turned bullish then we might see a meaningful bounce back in the coming months.

ArbiSwap ARBI token collapsed

Source : Coinmarketcap

ArbiSwap ARBI token is already in the downtrend and slipping down by forming lower low swings seems like someone is unloading their holding from the higher levels. Recently, ARBI token fell from $1.50 to decimals in the last 24 hours. Blockchain data shows developers minted 1 billion Fake tokens swapping these for USDC and nearly 69 ether (ETH)

Investors have taken long positions in the hope of generating positive returns but developers have removed the liquidity and disappeared. It seems like it is a well planned scam.

Summary

Optimism (OP) token price is facing the heat due to the overall market sentiment turning weak and technical analysis also indicating that prices are losing strength and may see more downside. On the other hand, Arbitrum DEX ArbiSwap ARBI token has collapsed which can be called a well planned scam by its own developers.

Technical levels

Resistance levels : $3.300 and $4.000

Support levels : $2.000 and $1.500

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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