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. 

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

OP

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

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.
placeholder
Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Author  Beincrypto
Dec 17, 2024
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
placeholder
Bitcoin Surrenders $65,000 as Analysts Warn of ‘Structural’ Market BreakBitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
Author  Mitrade
Feb 06, Fri
Bitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
placeholder
Gold Price Forecast: XAU/USD falls below $5,050 as traders await US jobs data Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports. 
Author  FXStreet
Yesterday 01: 27
Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports. 
placeholder
Bitcoin’s ‘2022 Redux’ Fears Are Superficial, Argues TexasWest Capital CEOTexasWest Capital CEO Christopher Inks argues Bitcoin's drop is a completed "degrossing" event, structurally distinct from the 2022 Terra-induced collapse.
Author  Mitrade
4 hours ago
TexasWest Capital CEO Christopher Inks argues Bitcoin's drop is a completed "degrossing" event, structurally distinct from the 2022 Terra-induced collapse.
placeholder
Gold climbs to $5,050 as Fed-driven USD weakness offsets positive risk tone ahead of US NFPGold (XAU/USD) attracts some dip-buyers following the previous day's modest slide and climbs back above the $5,050 level during the Asian session on Wednesday.
Author  FXStreet
3 hours ago
Gold (XAU/USD) attracts some dip-buyers following the previous day's modest slide and climbs back above the $5,050 level during the Asian session on Wednesday.
goTop
quote