Ethereum layer-two scaling answer Optimism (OP) has soared by as a lot as 95% up to now two days as the entire worth locked in numerous DeFi protocols on the community additionally skyrockets.
- Over the previous couple of days, the entire cryptocurrency market capitalization has elevated by round $130 billion, in keeping with information from CoinGecko.
- This comes on the again of hovering costs throughout the board, together with Bitcoin’s push in the direction of $24,000.
- Within the final week, nonetheless, BTC’s dominance – the metric used to gauge its share relative to that of your complete market – has decreased, which indicators that altcoins are performing higher relative to Bitcoin.
- One of many better-performing cryptocurrencies is OP – the native token of the Optimism ecosystem.
- The cryptocurrency is up some 95% up to now two days alone (on Binance).
- On the time of this writing, OP trades at round $1.64, nearly doubling its value in two days.
- This comes on account of renewed curiosity within the protocol, as mirrored by the rising whole worth locked inside numerous DeFi tasks constructing on Optimism.
- Information from DeFi Llama shows that the entire worth locked in Optimism has exceeded $500 million, with Velodrome Finance (a liquidity protocol) seeing a rise over 53% in TVL, exceeding $100M.
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