Optimism (OP) Climbs 6% A Day As Crypto Market Rebounds, What’s Next?
Optimism (OP) has posted notable gains today, October 2, trading at $1.45, with a 5% increase in the last 24 hours. Furthermore, its price has gained 15% in the last seven days. OP’s rise coincides with the improvement in the general crypto market, which showed a remarkable recovery. However, whether OP will sustain the ongoing rally remains to be seen. But a close look at a few technical indicators may provide vital insights into its next price moves. OP Approaches Overbought Zone As Buyers Sustain Rally OP continues to show positive price momentum as buyers dominate the market.....
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On October 2, Mike McGlone, Commodity Strategist at Bloomberg, took to social media X (formerly known as Twitter) to express his concerns about the state of the crypto market. Despite Bitcoin’s (BTC) recent rise, McGlone highlighted a disturbing trend and raised the possibility of a cryptocurrency recession. Factors Behind Crypto Market’s Recession Risk McGlone pointed out the concept of “positive beta vs. negative liquidity” and its implications for the cryptocurrency market. Bloomberg’s senior Macro Strategist suggested that the weakness observed in the third....
Ethereum scalability solution Optimism revealed their governance token, called OP. This will mark the beginning of a transformation process for the Optimism ecosystem. It aims and providing users with more power with a unique governance system. Related Reading | Bitcoin Beneath Key Support Level; What’s Next? Control via two entities, the Citizens’ House and the Token […]
DOGE rose on Saturday, following yesterday’s tweets from Elon Musk confirming that Spacex could soon accept the memecoin as a payment option for merch. Tezos was also higher to start the weekend, as it rose by nearly 5%. Dogecoin (DOGE) DOGE was one of the most notable movers in crypto markets on Saturday, coming as traders continued to buy the memecoin following a recent tweet from Elon Musk. As we covered yesterday, Musk stated that Spacex merch will soon be available to purchase using DOGE. DOGE/USD hit an intraday peak of $0.08538 on the news, pushing prices to an 11-day high in....
On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalization is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion up 5.28% since January 23. Defi TVL Climbs More Than 5%, Ethereum Defi Dominance Still 60%, Cross-Chain Bridge TVL Jumps 13.5% At the end of the week, crypto asset prices have rebounded from the market carnage that took place seven days ago. During the last week, the top two leading crypto assets bitcoin (BTC) and ethereum (ETH) have....
Although the airdrop took place less than two weeks ago, problems have already arisen for the vaunted layer-2 scaling solution’s team and market maker. The honeymoon period for the Optimism layer-2 scaling solution has been cut short as an exploit in its market maker’s smart contract led to the loss of 20 million OP tokens.The exploit took place May 26 but has only just been reported to the community. One million tokens valued at about $1.3 million were sold on June 5. An additional one million tokens valued at about $730,000 were transferred to Vitalik Buterin's Ethereum address on....