OP Is Going To ATH As TVL In Optimism Soars Above $500 Million

Optimism (OP) has surged almost 100% in the past few days as the total value locked in a layer-2 scaling solution exceeds $500 million.

Ethereum Optimism (OP) layer-2 scaling solution has increased by as much as 95% in the past two days as the total value locked in various DeFi protocols on the network has also skyrocketed.

Data from DeFi Llama shows that the total value locked in Optimism has exceeded $500 million, with Velodrome Finance (a liquidity protocol) seeing an increase of over 53% in TVL, exceeding $100 million.

Optimism TVL. Source: Defi Llama

Over the past few days, the total cryptocurrency market capitalization has increased by around $130 billion, according to data from CoinGecko. This comes from soaring prices across the board, including Bitcoin’s push towards $24,000.

In the last week, however, BTC’s dominance – the metric used to gauge its share relative to that of the entire market – has decreased, which signals that altcoins are performing better than Bitcoin.

OP has been up 95% in the past two days alone. At the time of writing, the token is trading at $1.78.

OP daily chart. Source: CoinCu

This comes from renewed interest in the protocol, as reflected by the increasing total value locked within various DeFi projects, building on Optimism.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.