One concerning aspect is the high fully diluted valuation (FDV) of 7.9B at current prices. Not including early VC token selling rounds will eliminate large amounts of sell pressure in the future. The basic tokenomics of OP are “A grade” compared to competitors. The low percentage of tokens on the market will translate into high price volatility, especially if the market begins to FOMO early on. Only 5.85% of OP tokens are in circulation. No significant cliffs (Chart above)Īirdrops (OP token releases) awarded to network participants/protocols
Unlike many recent token releases, OP had no venture capital rounds, meaning no entities purchasing tokens pennies on the dollar. There's a lot to like about OP tokenomics: No, unfortunately I did not receive the airdrop.Įstimated Circulating supply after Airdrop 1: 251M (5.85%)ģ0% unlocked -> 100% in four years. Optimism crypto (OP) is available on Binance and Coinbase.First off. I would speculate that we may even see Optimism (OP) crypto become one of the top 50 crypto coins by market capital by the next crypto bull run. I think Optimism crypto will surprise the crypto markets very much out of the blue which will lead to a rush of fomo. Whilst Polygon (MATIC) is a competitor layer 2 blockchain for Ethereum I would describe the relationship between the two like Batman and Robin. Overall I am very bullish on the Optimism ecosystem and I think there will be a very bright future ahead. Optimism crypto strives to achieve the minimum number of mechanisms while building a complex layer 2 solution for Ethereum. According to their website, this is simplicity, pragmatism, sustainability and unsurprisingly, optimism. The vision of Optimism surrounds 4 main missions. In my opinion Optimism crypto has 3 unique selling points for investors. Ultimately, this means all of the transactions are trustlessly recorded on Optimism but secured on Ethereum. In addition to this Optimism crypto aids with the scalability of Ethereum ecosystem by utilizing optimistic rollups. Already Optimism crypto has achieved some key milestones such as $1b+ saved in gas fees, $800m+ on chain value and an impressive $1m donated to public goods.Īs a layer 2 blockchain Optimism crypto benefits from increasing the security of the Ethereum mainnet. Optimism (OP) crypto is a powerful Ethereum layer 2 blockchain which is super low-cost and lightning fast. Otherwise, I expect Optimism crypto to chop around between $1.20-2-20 price levels. Should things go really well for the remainder of 2022 the technical targets from the Fibonacci extension read as follows: $2.51, 2.64 and $2.82. This would offer investors a potential 10-20x for holders that get in early enough. We could possibly speculate a $5-10b market capital by the next crypto bull run with enough valuable protocol upgrades. I personally think that Optimism will have a very strong future and right now has a relatively low market capital. This could reflect an attractive area for traders to enter long positions and holders to accumulate more. The relative strength index dipped below 30 which indicates it is oversold. So far optimism has corrected 15.7% from the top and I would not rule out another 15% correction from these levels either.įrom a technical analysis point of view it looks Optimism crypto may see a short-term bounce to $1.97. If Optimism crypto cannot hold the $1.91 support range I would expect negative price momentum down towards the 0.5 Fibonacci retracement level of $1.80. If we can consolidate at this particular level of support we might see continuation to the upside. Traders book in profits and the buyers at the topĪt the moment Optimism has retraced to the 0.382 Fibonacci retracement level after losing the critical support level of $1.97. Usually this is a sign that the price has moved too quickly as the sentiment flipped bullish and euphoric very quickly. Optimism crypto was forming a bearish divergence on the daily time frame and was over extended of its 20-day moving average. It comes with no surprise that there has been a slight retracement in the price here. The $0.40-$0.60 price levels proved to be an excellent accumulation range for traders or holders throughout the early stages of June and July 2022. According to Coinmarketcap Optimism (OP) crypto is now rank #84 and has a market capital of $447 million. Over the last few days Optimism crypto has certainly positioned itself in the spotlight for being one of the biggest altcoin pumpers. Will Optimism crypto pump further, or is the end of the rally for now? Optimism Crypto (OP) Price Prediction 2022
OPTIMISM CRYPTO HOW TO
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