Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Optimism earns nearly $45 million in revenue, eyes double-digit gains

Source Fxstreet

Optimism, an Ethereum scaling solution, collected nearly $45 million in revenue per recent data.
Layer 2 chain surpassed $720 million in total value of crypto assets locked in the Optimism ecosystem.
OP extends gains by nearly 2% on Tuesday, eyes $2 target.

Optimism (OP), an Ethereum scaling solution has generated 14,300 Ether worth nearly $45 million. The Optimism Collective has generated the revenue from sequencer fees or the fees generated when a transaction is executed on the chain.

DeFiLlama data shows the total value of assets locked in Optimism crossed $720.50 million early on Tuesday.

Optimism extends gains with recent developments

Optimism rallied nearly 2% early on Tuesday. The Layer 2 Ethereum scaling token trades at $1.638 at the time of writing. Ryan Wyatt of the Optimism collective noted that the chain has generated 14,300 Ether in revenue from transactions executed in its network.

There are a total of 26 Optimism Stack Chains sharing their revenue.

Optimism is the Superchain

To date, the Optimism Collective has generated 14.3K ETH in revenue from the sequencer fees that OP Stack chains in the Superchain!

There are 26 OP Stack Chains in the Superchain sharing revenue today, with more on the way pic.twitter.com/rdes8x1eoF
— Ryan Wyatt (@Fwiz) July 30, 2024

The Layer 2 chain has over $720 million in cryptocurrencies locked, meaning traders trust the chain and its transparency.

TVL of Optimism

OP could rally to its $2 target, extending gains by 22.6%. Optimism faces resistance at $1.815 and $1.822, a multi-month resistance level. OP could find support in the Fair Value Gap (FVG) between $1.532 and $1.581.

The Moving Average Convergence Divergence (MACD), a momentum indicator, shows that OP could retreat to a support level and collect liquidity before rallying toward its target.

OP/USDT daily chart

OP could find support at the $1.222 level, the July 5 low, in the event of a correction.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Gold falls below $4,300 as higher US yields bolster Fed rate hike bets Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Author FXStreet

Yesterday 01: 23

Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

Yesterday 08: 16

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

6 hours ago

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

6 hours ago

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Popular Symbols