OP of optimism also did not lag behind as the rest of the market registered double digit price gains during the last week. In fact, according to CoinMarketCapThe Layer 2 (L2) token is up 16% in price over the past seven days.
Ethereum Chain, designed as an optimistic rollup network to increase the scalability of optimism rank Second as the most used L2 solution provider. It is behind Arbitrum with a net worth of $1.60 billion.
in a twitter thread Shared on September 8, Optimism confirmed that the Ethereum network’s transition to the PoS consensus mechanism will not affect its operations, and that deposits and withdrawals on the network will continue to “operate as usual.” It further states that upon completion of the merger, its transaction data and state roots will be posted to the PoS chain. In addition, its nodes will continue to “read data from the chain after the merge”.
OP – Timely Investor
At the time of writing, 1 OP token was available for $1.37. Over the past week, there has been a 109% increase in trading volume for the crypto asset on the charts.
More liquidity was also pushed into the OP market within the reporting period as leading indicators moved up from their respective neutral positions. At press time, the Money Flow Index stood at 62. The asset’s relative strength index was also located at 54. Chaikin’s money flow dynamic line was pegged at 0.02, above the 0.0 center line, indicating an increase in buying pressure.
on-chain performance
With the proposed launch of optimism EIP-4844 And optimism cornerstone Ahead of the Ethereum merger, it should come as no surprise that development activity on the network has increased over the past few months. According to sentimentIt has seen an increase of 23% in the last 180 days.
Whales have also gradually increased their OP holdings, with the expected increase in the price of the L2 token after the merger. As a result, addresses containing 1,000,000 to 10,000,000 OP tokens accounted for 3.14% of all addresses holding crypto-assets.
Four months ago it was 2.86%.
Optimism’s daily revenue has steadily declined over the past 180 days, with the L2 ecosystem becoming increasingly competitive. According to data from Token Terminal, daily revenue on the network is down 29% over the past 180 days, 76% in the past 90 days and 26% in the last 30 days.
In fact, when compared with other L2 solution providers such as dYdX and Loopring, Optimism’s daily revenue has been inconsistent at most over the past 30 days.
After L2s merger
On the impact of the Ethereum merger of L2 solution providers, many industry experts believe that L2S will continue to operate as usual. For example, in a recent interview, the CTO of Bitfinex Paolo Ardoino said that “it will be business as usual for L2s.”
According to With the merger Anton Gulin, Global Business Director at AAX Exchange, “the rest of L2s will either adapt or exist.”