What is Optimism?
With a layer 2 blockchain solution, the Optimism project aims to expedite Ethereum scaling. The primary goal of developing its own network is to offer smooth, inexpensive, and quick transactions. Beginning in June 2019 with the introduction of an optimistic rollup, the project was completed in December 2021 with the launch of their primary network.
Optimism offers a permissionless, secure network and is entirely open source and decentralised. The project will operate as a non-profit company, and all profits will go toward introducing new products to the network. Optimism will have its own network, and in the future, we might see network upgrades like sharded rollup and decentralised sequencer.
Using the Ethereum network’s core technology, optimism kept things simple. As a result, Optimism’s codes will continue to be clear and straightforward, enabling anyone to interact directly with existing databases. Project’s goal is to become Ethereum’s largest scaling solution with the highest total volume locked. a study claims that the network is already the home of more than 35+ protocols and is heavily involved in well-known decentralised exchanges and applications.
Optimism Price Prediction
|Month & Year||OP Price Prediction|
|Based on||Layer 2 Solution|
|Exchange Platform||Binance, Gate, Kucoin, OKX, Huobi Global|
OP Token Price Analysis
The OP token serves as the ecosystem’s governance and utility, and it is distributed through the ecosystem fund, retroactive public goods financing, user airdrops, core contributors, and investors. The sequence revenue model, which is presently the top priority on the roadmap, will be how token holders will be compensated. However, public goods that are intended to increase demand for blockspace will be dispersed from OP token revenue.
According to CMC and CoinGecko, the price of the OP token on Binance, Huobi, and other tier 1 exchanges is $0.91 USD. However, a bear market set in following the token listing, and the value of the token fell below $0.50 USD. Hacker stole almost $24 million worth of tokens after attacking the Optimism network, but he later returned 95% of the stolen tokens to the Ethereum founder’s wallet.
Throughout this time, the price graph of the OP coin has remained consistent, and it has been moving upwards since July 2022. In less than a month, the price of an OP token skyrocketed from $0.47 to $2.22 USDT. A new all-time high for OP might occur before the end of 2022 if market sentiment stays neutral. Currently, the token is attempting to create resistance at the price level of $1.60 USD.
Right after introduction, optimism became mired in significant controversies when the network was hacked, but token value recovered far much quickly than anticipated. The project has a robust plan that aims to bring on board a number of interesting initiatives. In less than 3 months since its listing, optimism has significantly increased its market volume and is already able to maintain its position among the top 200 projects in terms of market worth. The optimism coin is already listed on a reputable exchange and in a decentralised setting.