Optimism (OP) Is Up By 100% – Drippie Transaction System Boosts Demand
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- Optimism (OP), an Ethereum layer-two scaling solution, has skyrocketed in the last two days.
- Optimism is currently trading at $1.57, with a 24-hour trading volume of $1,088,111,688.
- Drippie is Optimism’s first product, and it aims to solve issues with on-chain activity automation.
In response to the bullish crypto market and network development, Optimism (OP) has been up by 100% in the last few days. Optimism (OP), an Ethereum layer-two scaling solution, has skyrocketed in the last two days. The reason could be attributed to the implementation of several significant enhancements. According to a tweet from OP Labs, the company has unveiled its Drippie transaction system.
Drippie is Optimism’s first product, and it aims to solve issues with on-chain activity automation. Drippie is an “Ethereum native, trust-minimized conditional transaction mechanism,” according to the group. Aside from network progress, the price increase in Optimism (OP) Coin prices could be linked to the bullish crypto market, which tends to boost all types of digital assets, including Optimism (OP) Coin. The overall market value of all cryptocurrencies increased by more than 6% in anticipation of the merger, reaching $1.08 trillion at the time of writing.
Optimism is currently trading at $1.57, with a 24-hour trading volume of $1,088,111,688. Optimism has increased by 34.49 percent in the last 24 hours. The market is now ranked #100, with a live market cap of $368,317,425. There are 234,748,364 OP coins in circulation, with no information on the maximum supply.
Bullish Crypto Market Underpins OP
The total market value of all cryptocurrencies increased by more than 6% to $1.08 trillion. According to data, the price of Ethereum, the world’s second-largest cryptocurrency, increased by more than 10% the day before, reaching an intraday high of $1,676.97 before falling to $1631 as of press time. The gains occurred after Tim Beiko, the chief Ethereum developer, confirmed the date for the beacon chain merger of the Ethereum test network “Goerli.”
At the time of writing, the price of cryptocurrencies had already surpassed $1 trillion due to the surge in Ether, which also caused a rise in Bitcoin and other altcoins. Several digital assets have increased in value, while the industry increased by about 7% the day before. ETH has had one of the best recent returns of any currency. Ether is driving the rise in major cryptocurrencies, with Solana’s SOL, Binance’s BNB, and Cardano’s ADA gaining 3 to 8% in the last day. Other markets, such as Optimism (OP), Uniswap’s UNI, and bitcoin cash, have seen significant gains.
Optimism (OP) Is Up By 100% – Network Developments
Over the weekend, optimism, a Layer-2 scaling solution, took a beating from a bearish movement. However, the losses were short-lived because recent network progress tends to boost the coin’s value. According to a tweet, OP Labs has unveiled its Drippie transaction system. Drippie is Optimism’s first product, and it aims to solve issues with on-chain activity automation. Drippie is an “Ethereum native, trust-minimized conditional transaction mechanism,” according to the group. Furthermore, it is similar to the “If This Then That” (ITTT) Web 2.0 service, which allows transaction execution under certain conditions. According to reports, the Drippie mechanism will benefit from the most recent integration with Chainlink.
Curve Finance has also filed a funding request with the organization, according to a July 24 Optimism update. The plan, which has yet to be approved by Optimism, aims to increase liquidity. As a result, the Optimism network’s value will effectively rise, influencing the OP coin.
