BTC-Newswire

Optimism holds strong as price spikes 50% this week

Press Releases Crypto News Crypto-News Optimism holds strong as price spikes 50% this week

Optimism (OP) witnessed a 10% price increase and an over 50% rise on the daily and weekly timeframes, respectively.

The spike is underscored by growth in user activity, plus strategic collaborations with Lisk and Gelato, as well as a solid position as the second-largest Ethereum layer-2 network.

According to recent data compiled by IntoTheBlock, the Optimism L2 blockchain now boasts over 5.9 million addresses with a balance — a substantial 391% increase from January’s 1.2 million. This growth reflects a growing interest in Optimism’s decentralized ecosystem, driven by the Optimism Collective’s experiment in digital democratic governance.

By Dec. 22, the total number of addresses on the Optimism Layer 2 network had reached over 84.9 million, an 843% increase in just three months. A major part of this surge is because Optimism’s third airdrop went smoothly on Sept. 18, with over $26 million worth of OP tokens distributed to 31,870 unique addresses.

Optimism’s positive move is further bolstered by Lisk’s collaboration with Optimism and Gelato, signalling a strategic move from Layer 1 to Ethereum layer-2. This transition involves migrating Lisk’s LSK tokens onto the Ethereum platform, contributing to Optimism’s growing ecosystem.

Simultaneously, the transaction count on the Optimism network has seen a notable spike, indicating increased user activity. This uptick aligns with the heightened competition among layer-2 solutions vying for prominence in the Ethereum ecosystem.

According to L2Beat, Optimism currently has a sizable $5.2 billion in total value locked (TVL), clinching second place among layer 2 networks, dwarfed by only Arbitrum. The OP token price has increased by a decent 45% this week, according to CoinGecko