Optimism

Get Optimism (OP) all time high price, historical charts, latest news and other information.

Analytics platform Santiment is looking at two crypto assets recording triple-digit percent increases over a relatively short period of time.
Starting with decentralized finance (DeFi) platform UniSwap (UNI), Santiment says that the crypto asset has appreciated by over 150% over a period of nearly two months.
 
“Uniswap has been on quite the tear in the past seven weeks, decoupling from the rest of the altcoin pack in several instances, and jumping +153% since June 18th.”
According to Santiment, the daily address activity of Uniswap has risen and large holders of the crypto asset also continue to accumulate.
“It’s also great to see that shark and whale addresses have been accumulating heavier and heavier percentages of Uniswap’s overall supply since May. The 100k to 1m UNI addresses, in particular, saw a massive accumulation spike just two weeks ago. And continued price rises soon followed.
And speaking of whales, the amount of large transactions (which we deem to be transactions valued at $100,000 or more) are rising back to May levels as well. We can clearly see the major clump of big whale transactions that began forming one week ago, just prior to the major price rise up to $9.69.”
Source: Santiment
Uniswap is trading at $8.96 at time of writing.
The crypto analytics firm says that even though those who bought Uniswap 30 days ago are in double-digit profits, those who purchased the crypto asset a year ago are still in losses.
Consequently, Santiment says that Uniswap may fall in price over the short term but it is still undervalued over the long run.
“We can see that the 30-day Market Value to Realized Value (MVRV) is currently up to +22.5%, which is well above the backtested ‘Danger Zone’ of +15% or more. But even with mid-term trading returns beginning to overflow, the good news is that long-term traders (in the 365-day MVRV) are still well under water. This means that there may be an upcoming downturn in the next week or two for UNI, but its future for the long-term still looks to be undervalued.”
Source: Santiment
MVRV is the ratio of the present price and the average acquisition price of the particular asset. An increase in the MVRV value indicates a rise in the potential profits.
Santiment next looks at Ethereum (ETH) scaling solution Optimism (OP). According to the analytics firm, Optimism has undergone a “classic dump and pump” move as it soared by slightly over 300% from a July low of $0.45 to a high of $2 in August.
Optimism is trading at $1.93 at time of writing.
The analytics firm says that Optimism could undergo a correction of over 30% to a price of just above $1.297 over the short term based on the Elliot Wave theory.
“Expect a correction to around the bottom of wave four soon, but not more, as five waves tend to continue after that.”
Source: Santiment
The Elliott Wave theory states that the long-term price trend of an asset moves in a five-wave pattern while corrections move in a three-wave pattern.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/Ekaterina Glazkova
The post Will Uniswap and Optimism’s Massive Crypto Rallies Continue? Santiment Analyzes Top Ethereum Altcoins appeared first on The Daily Hodl.


Analytics platform Santiment is looking at two crypto assets recording triple-digit percent increases over a relatively short period of time. Starting with decentralized finance (DeFi) platform UniSwap (UNI), Santiment says that the crypto asset has appreciated by over 150% over a period of nearl...

dailyhodl.com

Will Uniswap and Optimism’s Massive Crypto Rallies Continue? Santiment Analyzes Top Ethereum Altcoins

A popular analyst is providing price target updates for four crypto assets as the markets try to end the week in positive territory.
The pseudonymous trader known as Altcoin Sherpa tells his 180,800 Twitter followers that while he does expect Bitcoin (BTC) to revisit $28,000 in the not-too-distant future, the brief surge above $24,500 on July 30th didn’t convince him that BTC is witnessing a strong uptrend in the short-term timeframe.
 
“I’m still of the opinion we’re going to $28,000 in the mid-term, but would like to see more chop around this $23,000-$22,000 area to form a significant low. The last high at $24,700 wasn’t super convincing to be honest but still a bullish market structure in my opinion.”
Source: Altcoin Sherpa/Twitter
The analyst believes Bitcoin can rally if it finds a higher low in the $22,000 to $23,000 range, although he expects Ethereum (ETH) will break out before BTC does.
“I would like to see a higher low get set around $22,000-$23,000, this is still bullish on long timeframe charts until shown otherwise.
Still eyeing ETH closely, I think it leads.”
At time of writing, Bitcoin is valued at $22,919.
Next on the analyst’s radar is smart contract platform Solana (SOL). Altcoin Sherpa says he’s been sitting on the sidelines and expects more up-and-down movement in the $32 and $47 range.
“Seems really unclear to me, I’ve been out of any active positions for Solana for a while now.
Lower high followed by higher low, expecting more chop in general.”
Source: Altcoin Sherpa/Twitter
Solana has also witnessed a slow grind down from the market-wide rally that peaked last Saturday, although SOL has managed a 2.08% rally over the past 24 hours and is changing hands for $40.39.
Moving on to leading smart contract platform Ethereum, the analyst sees a bright spot for investors who have lost money against the US dollar (USD), noting that ETH is looking strong against BTC.
“You might be down bad in USD but the ETH/BTC pair is really strong.
Very interesting price action in the mid-term; I think that there are some arguments for not holding any BTC going forward.”
Source: Altcoin Sherpa/Twitter
Ethereum is trading for $1,731 at time of writing.
Last is Optimism (OP), a layer-2 scaling solution for Ethereum. The crypto strategist says that after the altcoin’s major rally over the past few weeks, he plans to short OP to hedge against his other more aggressive crypto investments.
“Shorting this as a hedge for my other stuff.”
Source: Altcoin Sherpa/Twitter
Optimism was valued below $0.50 in mid-July before a series of rallies sent OP to as high as $2.24 on Wednesday. The altcoin has since corrected with an asking price of $1.93 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/Marko Aliaksandr
The post Crypto Trader Says Bitcoin Flashing Bullish Signal, Updates Ethereum, Solana and Optimism Forecasts appeared first on The Daily Hodl.


A popular analyst is providing price target updates for four crypto assets as the markets try to end the week in positive territory. The pseudonymous trader known as Altcoin Sherpa tells his 180,800 Twitter followers that while he does expect Bitcoin (BTC) to revisit $28,000 in the not-too-distan...

Crypto Trader Says Bitcoin Flashing Bullish Signal, Updates Ethereum, Solana and Optimism Forecasts

Optimism price registered a spike of 25% after its opening at $1.9890. The OP/USD pair currently trades at $1.9510, with a high of $2.2150 and a low of $1.9390.  The current price movement of Optimism is going with the flow as far as the Ethereum layer-2 protocol is concerned.
It makes use of rollups that enable quicker and low-cost Ethereum transactions. OP Labs of Optimism protocol has announced this week that the planned update will happen this quarter 4 of 2022. And when that happens, this will be a game-changer.
Early Friday, OP has spiked by 11.43% and the sentiments show that it will escalate further. But, the coin was not able to keep up and dropped by 1.59% overnight. As the demand for Optimism increases, the coin’s bullish recovery also continues.
The value of OP has risen to $2.2 which is the highest it has been since June 1, 2022. At present, the coin is now valued at $500 million as it increased by more than 421% from its all-time low.

What Is Optimism?
Optimism has a very ambitious goal as it seeks to solve a lot of Ethereum’s issues. It aims to speed up and also lower the costs of Ethereum transactions by enabling optimistic rollup. In the development of layer-two solutions geared for Ethereum, the network is looking to keep it minimal.
Optimism wants to dispel the complexity and speed up Ethereum transactions. The Optimism Foundation is on top of the project and governs the OP token that is used for voting on governance proposals.
On July 25, OP Labs launched Drippie that is native to Ethereum that aims to solve many pain points when it comes to blockchain automations.

Chart: TradingView.com
Optimism Sees Spike In Investor Interest
Optimism price is on a surge due to the increase in investor interest and positive sentiment around the network’s recovery. More so, its TVL has also targeted a new high and there is also that increased fear of missing out (FOMO).
Many people are optimistic that the bull run will continue especially after it has spiked by more than 400%. Investors are looking for another ATH or a price increase. More so, buyers are also excited with Optimism outpacing Polygon which currently has a TVL of more than $1 billion.
The OP/USDT pair is beginning to recover as it skyrocketed above 38.2% following the Fibonacci retracement level that stretches at $1.389. Currently, the pair is trading at $1.891 and resistance at $1.700. A dip below this figure will pump up the selling trend until it reaches $1.389.


Crypto total market cap at $1.07 trillion on the daily chart | Source: TradingView.com

Featured image from Crypto News, chart from TradingView.com


Optimism price registered a spike of 25% after its opening at $1.9890. The OP/USD pair currently trades at $1.9510, with a high of $2.2150 and a low of $1.9390.  The current price movement of Optimism is going with the flow as far as the Ethereum layer-2 protocol is concerned. It makes use of rol...

newsbtc.com

Optimism Price Bloats 25% – OP Seen Ballooning In Coming Days


Be[In]Crypto takes a look at the five cryptocurrencies that decreased the most last week, more specifically, from July 29 to Aug 5.



These cryptocurrencies are: 



Flow (FLOW) : 47.94%Filecoin (FIL) : 39.59%Optimism (OP) : 28.86%Chiliz (CHZ) : 23.87%Yearn.Finance (YFI) : 22.37%



FLOW



FLOW had been increasing inside an ascending parallel channel since June 18. It managed to break out from it on Aug 4 and reached a high of $2.98 the next day.



FLOW barely failed to reach the main resistance area at $3.10. 



If it manages to break out from it, the rate of increase could greatly accelerate due to the lack of overhead resistance above $3.10.



FLOW/USDT Chart By TradingView


FIL



FIL has been gradually moving upwards since June 18. It broke out from a descending resistance line on July 17 and accelerated its rate of increase afterwards. This led to a high of $11.39 on Aug 1. However, it was rejected by the $11.25 horizontal resistance area and has been decreasing since. 



The most likely area to provide support is between $7.40 and $8.20, created by the 0.5-0.618 Fib retracement support level. 



Conversely, the next resistance area is at $15.80.



FIL/USDT Chart By TradingView


OP



OP has been increasing alongside an ascending parabolic support line since July 13. In a period of 22 days, the price has increased by 440%. This led to a new all-time high price of $2.25 on Aug 4. 



While the price has decreased slightly since, the parabolic support line is still intact and so is the bullish trend.



OP/USDT Chart By TradingView


CHZ



CHZ has been increasing since June 18. On Aug 1, it broke out from the $0.134 horizontal resistance area and validated it as support the next day.



If the upward movement continues, the next closest resistance area will be between $0.205 – $0.235. This is created by the 0.5-0.618 Fib retracement resistance levels.



CHZ/USDT Chart By TradingView


YFI



YFI had been increasing inside an ascending parallel channel since June 18. It broke out from this channel on July 29 and reached a high of $14,200 the next day. 



The price has been decreasing since, and is in the process of validating the resistance line of the channel, completing a fourth-wave pullback. If successful, this would lead to another upward movement towards $17,000. 



A decrease below the wave one high (red line) at $8,087 would invalidate this particular wave count.



YFI/USDT Chart By TradingView


For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click here
The post Optimism (OP) Reaches New All-Time High: Biggest Weekly Gainers appeared first on BeInCrypto.


Be[In]Crypto takes a look at the five cryptocurrencies that decreased the most last week, more specifically, from July 29 to Aug 5.
The post Optimism (OP) Reaches New All-Time High: Biggest Weekly Gainers appeared first on BeInCrypto.


beincrypto.com

Optimism (OP) Reaches New All-Time High: Biggest Weekly Gainers

Optimism eyes an increase in adoption after the Merge upgrade triggers Ethereum's "Rollup-Centric Roadmap."

Optimism price	$1.89
Low - High 24H	$1.86 - $2.03
Market cap	$405.24M
Volume 24H	$267.76M
All time high	$2.21 -14.24% August 4th 2022
All time low	$0.402159 370.24% June 18th 2022
Genesis date	N/A

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