Main navigation

Optimism (OP) Soars 30% Amid Binance's BUSD Integration

Thu, 02/02/2023 - 15:45
article image
Gamza Khanzadaev
OP up 30% in 24 hours against background of major stablecoin integration into Optimism network
Optimism (OP) Soars 30% Amid Binance's BUSD Integration
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

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.

OP to USD by CoinMarketCap

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.

Can Optimism (OP) and Arbitrum Make Strong Bid for 2023?

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.

Polygon (MATIC) and Optimism (OP): Which Technology Is More Beneficial for Ethereum (ETH)?

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.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

m class="card__subscribe-form" method="post" action="#" id="subscribe">