Optimism displays bullishness as major announcements uplift trading activity

• Optimism’s weekly progress in DEX buying and selling quantity was the very best amongst main chains.
• The every day lively customers on the chain virtually tripled over the previous 4 days.

Optimism [OP] recorded notable progress within the buying and selling exercise of decentralized exchanges (DEXs) on its chain. As per a tweet, Optimism DEXs generated $203.89 million in quantity over the previous 24 hours, a weekly soar of greater than 30%.

Optimism quantity up considerably on the again of the Coinbase announcement.

Over the previous 24 hours, Optimism DEXs processed over $200M in swaps. pic.twitter.com/9Jpci8iCS0

— Patrick | Dynamo DeFi (@Dynamo_Patrick) February 26, 2023

An extra drill down of the info highlighted that Optimism’s weekly progress in DEX buying and selling quantity was the very best amongst main chains, together with Ethereum [ETH] and Arbitrum.

Reasonable or not, right here’s OP market cap in BTC’s phrases

Optimism will get the ‘Base’

The surge in buying and selling exercise comes on the heels of main technological upgrades introduced by the Optimism ecosystem within the final week.

Coinbase introduced the launch of a brand new Ethereum layer-2 resolution referred to as Base, which might be powered by Optimism.

On prime of this, Optimism acknowledged that moderately than constructing a number of L2 options, it might deal with unifying all of them in a single, cohesive unit referred to as ‘Superchain’.

These big-ticket bulletins have reenergized the Optimism community. As per information from Token Terminal, the every day lively customers on the chain virtually tripled over the previous 4 days.

With a surge within the variety of customers, the transaction charges paid on the community rose sharply, leaping 143% since 21 February.

Supply: Token Terminal

OP heading in direction of good points?

Optimism’s whole worth locked (TVL) confirmed important good points, rising by greater than 8% over the earlier week, as per DeFiLlama. This was the highest weekly growth in TVL for any chain within the crypto area.

Supply: DeFiLlama

How a lot are 1,10,100 OPs value at this time?

OP dropped 1.45% during the last 24 hours to be valued at $2.88, as per CoinMarketCap. The community’s native token recorded a achieve of three% during the last week.

The market indicators sided with an extra value rise. The Relative Energy Index (RSI) was within the bullish zone above the impartial 50 degree whereas the On Steadiness Quantity (OBV) began an upward trajectory.

The Shifting Common Convergence Divergence (MACD) indicated {that a} bullish crossover was on the playing cards, pushing OP’s value northwards.

Supply: Buying and selling View OP/USD