• The price of OP jumped 22% and was followed by a number-one spot in social interaction.
• Traders opened multiple long positions despite mild circulation.

According to Lunar Crush, Optimism [OP] ranked as the highest asset with the most social activity as the market shoved itself into bullish dominion.

The native token of the layer two (L2) protocol had formerly experienced the red side of the decentralized money market. This led to a 6.31% seven-day decline.

Is your portfolio green? Check the Optimism Profit Calculator

Now, its position on the social intelligence platform means that the insight from millions of conversations puts Optimism in a positive light.

As a result, OP became one of the best-performing cryptocurrencies in the last 24 hours.  At press time, the token was up by 22.02%.

The OP bulls are in pole position

An assessment of the derivatives market showed that traders were taking advantage of the uptick. First, Coinglass data revealed that the futures Open Interest (OI) was unusually high across almost all exchanges. 

The OI represents the number of futures contracts held by market participants during a trading day. With double-digit increases in this regard, it means that traders were solidly behind the OP price action.

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Author: Victor Olanrewaju

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