In most cases, cryptocurrencies tend to be highly volatile when they start trading. Optimism price rose initially after the airdrop and then it crashed hard as many of the original buyers sell. Now, its price is falling as many of the original buyers start exiting their positions. The Optimism price rose earlier on after Binance announced that it will start offering the coin in its ecosystem. According to the developers, a total of 248,699 users were eligible for this airdrop. It was one of the most hyped airdrops in the industry. Therefore, the first day of July was an important one for the Optimism ecosystem as the developers launched their governance token known as OP. ![]() According to Dune, the number of users using the bridge increased from 141 on May 30th to 3,980 on Wednesday. Optimism also runs an Ethereum bridge that makes it easy and cheap for people to handle Ethereum transactions. It has also been embraced in other market sectors like gaming and non-fungible tokens. They include some of the best-known blockchain projects like Perpetual Protocol, Synthetix, Uniswap, Coinbase Wallet, and Chainlink among others.Īccording to DeFi Llama, Optimism now has a total value locked (TVL) of over $275 million making it the 15th biggest blockchain in the world. In the past few months, the number of developers embracing the platform has been in a strong upward trend. It is a low-cost layer 2 platform whose goal is to scale applications created in Ethereum. Optimism is one of the most popular blockchain platforms globally. ![]() As a result, its total market cap has slumped to about $337 million. OP, the native token for the ecosystem, is trading at $1.59, which is about 67% below its highest level. The Optimism price crashed hard on Wednesday as the hype died down.
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