Ethereum Layer 2 Network Optimism (OP) Gains 5.57% in 24 Hours
Ethereum layer 2 network Optimism (OP) has experienced a market recovery, with a 5.57% gain in the last 24 hours. This upward trend suggests a return to the high price levels seen at the beginning of August. On-chain analytics firm Santiment has also reported a significant increase in investors’ interest in Optimism, particularly among whale and shark addresses holding between 100,000 and 10,000,000 OP. These investors currently hold 505.91 million OP, constituting 69.6% of Optimism’s total market shares. Additionally, Spot On Chain has observed a growing trend of OP accumulation, with address 0x011, suspected to belong to venture capital firm Amber Group, purchasing 3.73 million OP in the last 24 hours.
Main breakdowns of the key points:
- Optimism has gained 5.57% in the last 24 hours, indicating a market recovery.
- Investors holding between 100,000 and 10,000,000 OP have consistently increased their holdings over the last 12 months.
- These investors currently hold 505.91 million OP, constituting 69.6% of Optimism’s total market shares.
- Optimism recorded 22,900 active addresses on Monday, its fifth-highest value in 2023.
- Address 0x011, suspected to belong to venture capital firm Amber Group, has accumulated 8.14 million OP over the last 19 days.
Hot Take:
The recent market recovery and increased investor interest in Optimism suggest growing confidence in the Ethereum layer 2 network. The accumulation of OP by major investors and the upcoming Ethereum Cancun/Deneb upgrade could further boost Optimism’s prospects. With an active and engaged community, Optimism has the potential to continue its upward trajectory in the crypto market.
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