Optimism Price Bloats 25% – OP Seen Ballooning In Coming Days

Name	Symbol	Market	Market Cap ($)	Algorithm
Polygon	MATICUSD	Crypto	6,213,074,129	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Polygon

MATICUSD

Crypto

6,213,074,129

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0043	0.65%	0.6708	0.6706	0.6708

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0043

0.65%

0.6708

0.6706

0.6708

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.6791	0.6314	0.6659	0.6666	0.492200 - 1.29

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.6791

0.6314

0.6659

0.6666

0.492200 - 1.29

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:03:01	7.20	0.6708	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:03:01

7.20

0.6708

USD

Price x Volume	Volume	Base Symbol	Related Pairs
5,410,661.42	8,228,909.84	MATIC	MATICEUR	MATICGBP	MATICBTC

Price x Volume

Volume

Base Symbol

Related Pairs

5,410,661.42

8,228,909.84

Optimism Price Bloats 25% – OP Seen Ballooning In Coming Days

06/08/2022 7:20am

NEWSBTC

Optimism price registered a spike of 25% after its opening at $1.9890. The OP/USD pair currently trades at $1.9510, with a high of $2.2150 and a low of $1.9390. The current price movement of Optimism is going with the flow as far as the Ethereum layer-2 protocol is concerned. It makes use of rollups that enable quicker and low-cost Ethereum transactions. OP Labs of Optimism protocol has announced this week that the planned update will happen this quarter 4 of 2022. And when that happens, this will be a game-changer. Early Friday, OP has spiked by 11.43% and the sentiments show that it will escalate further. But, the coin was not able to keep up and dropped by 1.59% overnight. As the demand for Optimism increases, the coin’s bullish recovery also continues. The value of OP has risen to $2.2 which is the highest it has been since June 1, 2022. At present, the coin is now valued at $500 million as it increased by more than 421% from its all-time low. Related Reading: Shiba Inu Displays Surprising Price Movement – Can SHIB Ditch The Flatline? What Is Optimism? Optimism has a very ambitious goal as it seeks to solve a lot of Ethereum’s issues. It aims to speed up and also lower the costs of Ethereum transactions by enabling optimistic rollup. In the development of layer-two solutions geared for Ethereum, the network is looking to keep it minimal. Optimism wants to dispel the complexity and speed up Ethereum transactions. The Optimism Foundation is on top of the project and governs the OP token that is used for voting on governance proposals. On July 25, OP Labs launched Drippie that is native to Ethereum that aims to solve many pain points when it comes to blockchain automations. Chart: TradingView.com Optimism Sees Spike In Investor Interest Optimism price is on a surge due to the increase in investor interest and positive sentiment around the network’s recovery. More so, its TVL has also targeted a new high and there is also that increased fear of missing out (FOMO). Many people are optimistic that the bull run will continue especially after it has spiked by more than 400%. Investors are looking for another ATH or a price increase. More so, buyers are also excited with Optimism outpacing Polygon which currently has a TVL of more than $1 billion. The OP/USDT pair is beginning to recover as it skyrocketed above 38.2% following the Fibonacci retracement level that stretches at $1.389. Currently, the pair is trading at $1.891 and resistance at $1.700. A dip below this figure will pump up the selling trend until it reaches $1.389. Related Reading: SOL Loses $40 After The Exploit – What’s The Next Support? Crypto total market cap at $1.07 trillion on the daily chart | Source: TradingView.com Featured image from Crypto News, chart from TradingView.com

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