The OP price has risen 30% in the last 24 hours, reaching values close to its absolute highs of $3, which have not been seen since the token’s airdrop in late spring of last year. OP is the native token of Optimism, a Layer 2 blockchain on top of Ethereum and one of the leaders in all key metrics among such protocols.
The prospects of Optimism network were also appreciated by large cryptocurrency exchange Binance. Thus, it became known that the black-and-yellow crypto giant completed the integration of its stablecoin, BUSD, into the Optimism network.
Optimism (OP) price discovery
At the moment, Optimism has a total value of $750 million, with an on-chain value of more than $2 billion, while the number of unique daily users and the number of transactions on the network are 26,250 and 200,000, respectively. It is interesting that before the second half of January, both of these figures were three times higher.
Nevertheless, for each of these indicators, Optimism is currently behind its competitors, Polygon (MATIC), Avalanche (AVAX) and Arbitrum (ARBI). At the same time, OP’s price increase is ahead of all of them, which may indicate that the project is now going through a revaluation phase, previously being majorly undervalued.
