Ethereum’s Optimism (OP) Up 35% Since Friday, Here is What’s Behind It

The Optimism community token, OP, has risen greater than 30% previously three days and has change into some of the worthwhile main crypto property of all the week with this consequence. On the peak of $2.5 per token, the value of OP reached its all-time excessive, in the event you do not rely the $3 worth at which the Optimism token was distributed to early adopters.

Why did Optimism (OP) take off like this?

One of many causes for the speedy takeoff of OP in quotes could be referred to as the “international warming” of the crypto market. The second is the truth that Ethereum’s Layer 2 networks are experiencing a interval of explosive curiosity and progress within the variety of customers, transactions and locked worth. Optimism is likely one of the leaders with a TVL of $635 million, 2.64 million distinctive addresses, of which 70,000 use the community each day.

The numbers within the quotes point out the identical, when OP rose towards ETH by 85% in January. The most important impulse towards each the greenback and the Ethereum community token occurred simply on Friday, which proved the curiosity of the market within the essentially robust mission and took the OP worth to new heights. In all probability, with the anticipated improve in utilization of Ethereum Layer 2 networks in 2023, we must always count on the optimistic pattern to proceed.