- OP, Optimism’s native token, has surged past its previous all-time high of $3.54 to over $4.50, putting all OP holders in profit.
- Optimism is seeing increased usage and development activity, including major upgrades like Bedrock that will enable a more secure and interoperable network.
- As altcoins like Optimism break out while Bitcoin and Ether tread water, analysts speculate the crypto market may be entering an altcoin season.
Optimism‘s native token OP has surged past its all-time high, putting all holders in profit. The Ethereum layer-2 scaling solution has seen significant adoption growth.
OP Price Surges Past Previous ATH
According to data from IntoTheBlock, over one million addresses holding OP are currently in profit as the token has surged past $4.50, crushing the previous high of $3.54 recorded in February. OP has seen a 44% increase in the past month and an 82% yearly rise.
Strong Network Growth
The Optimism network is witnessing increased usage and developer activity. In December, Optimism became one of the top ten crypto assets by significant GitHub commits.
One major development is the Bedrock hard fork, enabling the creation of a superchain comprising multiple networks for increased security and interoperability.
Signs of Altcoin Season
The surge in OP’s value substantiates analyst speculation that the crypto market may be entering an altcoin season. As Bitcoin and Ether tread water, Optimism and other altcoins are breaking out to new highs.
Conclusion
With holders profiting from new all-time highs and developers building rapidly, Optimism looks poised to be a leading layer-2 scaling solution on Ethereum. Its growth could continue if the overall crypto market enters a prolonged altcoin season.
