• Optimism [OP] has announced plans to become a “Superchain” in order to unite various siloed L2s into one cohesive and interoperable system.
• On-chain metrics and market indicators have been bullish, with OP’s revenue increasing constantly since its launch in 2021.
• Coinbase has also announced the development of Base on Optimism’s OP Stack, with the goal of creating a standard, modular Superchain powered by Optimism.
Optimism Announces Plans for Superchain
Optimism [OP] has made a bold announcement on 23 February, revealing its plans to become a „Superchain.“ The Superchain aimed to combine various siloed L2s into one cohesive and interoperable system. Moreover, Optimism stated that it needed to work toward a future when launching an L2 was as simple as deploying a smart contract on Ethereum [ETH].
On-Chain Metrics & Market Indicators Bullish
Token Terminal’s data pointed out that Optimism’s revenue has been increasing constantly since its launch in 2021, which was a positive trend. Apart from this, Coinbase announced that it was developing Base on Optimism’s OP Stack with the goal of developing a standard, modular, rollup agnostic Superchain powered by Optimism in order to facilitate the path toward decentralization.
Price Surge Following Developments
OP’s price responded to these developments by painting its daily and weekly charts green. According to CoinMarketCap, OP’s price increased by over 8% in the last 24 hours, and at press time, it was trading at $3.09 with a market capitalization of over $725 million.
On-Chain Performance Supports Surge
Moreover, OP’s on-chain performance supported this surge in price, increasing the chances of registering more gains in the coming days. For instance, the token’s MVRV Ratio went up considerably, which was a bullish signal. OP’s network growth and velocity both registered upticks in the last few days as well as an increase in social volume. However, daily active addresses declined over the last week.
Next Wave Of Adoption Approaching?
It appears that optimism is preparing for another wave of adoption as it continues to step up its game with regards to unifying different L 2 chains into one platform for chains. With all these developments taking place along with positive market sentiment surrounding OP’s token performance it looks like optimism might be ready for another push towards further adoption!