Ethereum has been a crowd favorite among dApps developers for a while now. However, everyone, including its founder Vitalik Buterin, agrees that the blockchain has a scalability problem.
Optimism (OP) is a layer-two scalability solution built on top of Ethereum to address this challenge. The platform uses optimistic rollups, thereby providing faster transaction speeds along with the security of Ethereum. Optimism is powered by its gas token OP.
This article will serve as your go-to guide for understanding the Optimism blockchain, the features of the platform, and its native token OP.
I will take a look at the token from the perspective of an investor and discuss its past performance and future price forecasts. You can also find the details about where and how you can buy the Optimism token.
Optimism- Features and Benefits
| Layer-Two Rollup | Sitting atop Ethereum. Optimism operates as a layer-two blockchain. It inherits the security of Ethereum and adds better scalability to it. |
| $500 million in TVL | Optimism hosts 97 protocols, including Synthetix (SNX), Uniswap (UNI), and Velodrome (VELO), all of which make up over half a billion in total value locked. |
| User Journey | You can add OP to your Metamask wallet, bridge tokens like ETH to layer two, and participate in the ecosystem by staking. |
| Decentralized Governance | Optimism is led by the Optimism Foundation, a nonprofit organization that is committed to growing the Optimism ecosystem. It aims to be a decentralized public good, funded by donations and grants. |
| Simplistic Design | Optimism has a simple code, built with the Ethereum infrastructure, and new features are gradually implemented. |
| Execution Flow | While blocks on Optimism are constructed and executed on L2 the chain, user transactions are batched and submitted to the Ethereum mainnet. |
| Smooth User Experience | Transactions on Optimism are immediately accepted or rejected, creating a seamless user experience. |
Optimism (OP) Tokenomics
OP has a total supply of about 4.3 billion tokens and that is also the maximum supply of the token.
At present, around 957 million OPs are in circulation with a fully diluted market capitalization of $16 billion.
Initially, 25% of the tokens were allocated to ecosystem development.
Another 20% was set aside for rewarding public goods that positively impact the ecosystem.
19% of the tokens are airdropped to users for specific helpful behaviors.
The core contributors in the team got 19% and investors got 17%.
Optimism (OP) Past Performance
In June 2022, OP started trading at $1.44. After swinging up and down between $1 and $2, the token entered its bull run in January 2023, touching the $3 mark in February, followed by a sharp correction.
However, OP regained momentum again toward the end of the year and crossed the $4 barrier a week ago.
As I am writing this line, the cryptocurrency is traded at $3.83, up 3.42% from yesterday. With a 24-hour trading volume of over $274 million, the total market capitalization stands at $3.6 billion.
Optimism (OP) Price Forecast 2024
Technical indicators suggest that, in 2024, the minimum price of Optimism will be $1.67 and the maximum is $4.94. The average trading price is expected at around $3.20
Optimism (OP) Price Forecast 2025
The technical analysis of the yearly price chart of Optimism suggests that in 2025, the token will be traded between $7.56, on the lower end and $8.66 on the upper end. The average trading price is expected to be $7.82 in the next year.
Optimism (OP) Price Forecast 2030
Our experts suggest that the prices of Optimism in 2030 will be $47.95 on the bottom end and $57.78 on the higher end. Its average price stands at around $49.66 in the year.
Where to Buy Optimism (OP)
You have plenty of options here. A few places you can buy OP from are OKX, Binance, Coinbase, Bybit, KuCoin, Gate.io, Uniswap, etc.
Where to Buy Optimism (OP)
If you want to have complete ownership over your crypto tokens, I recommend using a non-custodian wallet like Uniswap. Here’s how you buy OP from Uniswap.
Conclusion
Optimism serves as a layer-2 optimistic rollup over the Ethereum network. Its community-oriented approach to governance and development has attracted a crowd of loyal fans and investors to the platform.
Thanks to the rally of the crypto market, OP, the native token of Optimum, is also gaining traction. Our expert forecasts suggest that the token has a bullish time ahead in the coming years.
At the same time, it is worth noting that crypto markets are susceptible to large-scale price fluctuations and have a history of wiping out the entire life savings of speculators. Thus the reader is advised to exercise caution before investing in crypto assets.
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