Home
News
- 1 Optimism, a prominent Ethereum-based Layer-2 scaling solution offering users cheaper transactions.
- 2 In the era of deep losses in the cryptocurrency ecosystem, the platform is leading the altcoin surge in popularity.
Despite the losses in the cryptocurrency market, Optimism Token (OP) is performing well. Optimism is a Layer-2 chain, scaling on Ethereum technology, leading the altcoin surge in popularity. After several ups and downs, the token is back in the game.
Let’s take a look at the whole scenario.
What Triggered Optimism To Surge?
The combined digital currency market capitalization is down by 1.04% to $1.02 Trillion and is deep in losses at the moment.
Optimism is a Layer-2 blockchain designed to scale Ethereum in a secure and flexible way through its optimistic roll-up technology. The OP token is performing well, despite several ups and downs that are leading the altcoin surge with its 5.31% progress to $1.33.
In a legal fight with crypto and the L2 world, Optimism sustained a strong position with its continuous record massive growth in its daily transaction count.
However, the price upsurge and continuous growth is not an uncommon feat for the cryptocurrency market. The token has been performing to its fullest potential in the past few months. Due to the whales, it reached $60 Million in the past two months. In addition, the token has the capability to touch $1.5 in the near future.
Considering the crypto market competition, most of the altcoins in the environment are experiencing a downturn. Taking the example of Ethereum (ETH), the coin has declined by 2.04% whereas Shiba Inu (SHIB) has declined by 1.66% in the last 1 day.
Noticing the downturn in the price of giant players like ETH and SHIB, the outstanding performance of OP is a miracle. Due to this, the OP token is getting much more appreciation.
The digital token measured a massive hike in terms of trading volume and exchanges. One of the key reasons can be the way buyers of all categories, including institutional investors and retail. In addition, the exploration of the new innovation has been a characteristic of its bullish pattern in the past few months.
Continuous upgrade, decentralized autonomous organizations (DAO), and voting rights on proposals makes the token more popular in the crypto landscape.
Current Performance and Stats
With continuous growth and outstanding performance, OP token has created an excellent position in the crypto environment.
Focusing on the current performance, the OP token price is $1.36, an upsurge of 9.50% in the past 24 hours with a market cap of $1 Billion. In the last 24 hours, the token reached the volume of $143 Million, a hike of 117.86%. The total supply of the token is 4,294,967,295 with a circulating supply of 798,517, 235.
OP is available at the top cryptocurrency exchanges including Deepcoin, LBank, Bybit, Binance, and OKX.
Conclusion
Optimism, a prominent Ethereum-based Layer-2 scaling solution, is all set to rock the crypto environment. Despite the ups and downs in the crypto space, the OP token is performing well, holding a market cap of $1 Billion. The exploration of new innovations and massive hikes in terms of trading volume and exchanges boomed the reputation of the token in the crypto marketplace.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
