• Optimism (OP) recently shared an update about their upcoming hard fork in March.
• The protocol also announced a slew of other upgrades, such as the idea of a ‚Superchain‘.
• Despite this, OP holders failed to respond positively and the token dropped 5.55% in 24-hours.
Optimism’s Upcoming Hard Fork
Optimism [OP] recently shared an update about their upcoming hard fork in March. The tweet was optimistic that there will be no downtime for users and network nodes would have to be updated in advance.
Sea Of Changes Awaiting Optimism Ecosystem
The protocol also added that the Optimism Goerli hard fork was meant to fix inconsistencies in API for receipts in system transactions. Santiment reported a surge in development activity on the platform, which suggested that key technical upgrades could be delivered on time. The network also announced ideas such as a ‘Superchain’ – a cohesive and interoperable system unifying multiple layer-2 solutions into one.
OP’s Bullish Idea Still Has Weight
Despite these developments, OP holders failed to respond positively and the token dropped 5.55% in 24-hours at the time of writing this article. However, Santiment suggested that most holders would book profits if they sold their holdings at prevailing prices – indicating bullish sentiment from long term investors on the platform. The daily transaction volume tripled over 10 days and lent further credence to this deduction.
OP’s Open Interest (OI) Moves Sideways
After a sharp move upwards on 10 February, Optimism’s open interest (OI) spiked briefly last week but then matched price movement and moved sideways since then.
What Are 1,10 & 100 OPs Worth Today?
Unfortunately, due to bearish sentiment from OP holders, it is difficult to determine how much 1, 10 or 100 OPs are worth today with any degree of accuracy – investors should use discretion before making any decisions regarding buying/selling OP tokens.