{"id":18018,"date":"2023-02-23T22:32:31","date_gmt":"2023-02-23T22:32:31","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/optimism-op-price-spikes-after-coinbase-news\/"},"modified":"2023-02-23T22:32:31","modified_gmt":"2023-02-23T22:32:31","slug":"optimism-op-price-spikes-after-coinbase-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/optimism-op-price-spikes-after-coinbase-news\/","title":{"rendered":"Optimism (OP) price spikes after Coinbase news"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675356609679-1d15a350-3e53-4310-b9c1-b57ea9bf2a25-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675356609679-1d15a350-3e53-4310-b9c1-b57ea9bf2a25-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675356609679-1d15a350-3e53-4310-b9c1-b57ea9bf2a25-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675356609679-1d15a350-3e53-4310-b9c1-b57ea9bf2a25-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Optimism token OP rose 16% after Coinbase announced the launch of its L2 platform on OP stack.<\/li>\n<li dir=\"ltr\">OP price hit highs of $3.10 on Coinbase, not far from its all-time high of $3.19.<\/li>\n<li dir=\"ltr\">Gains for the OP token paled in comparison to the staggering 250% spike for BASE, a token unrelated to Coinbase\u2019s L2 Base.<\/li>\n<\/ul>\n<p dir=\"ltr\">Optimism price surged double digits on Thursday after cryptocurrency exchange <a href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase<\/a> <a href=\"https:\/\/twitter.com\/coinbase\/status\/1628760201254903809\" rel=\"noopener noreferrer\" target=\"_blank\">announced<\/a> it had launched Base, an Ethereum Layer-2 network.<\/p>\n<p dir=\"ltr\">Like Arbitrum, Optimism is a L2 network that uses Optimistic Rollups to increase transaction speed and reduce gas fees. Its scalable blockchain is one of the top chains in the Ethereum ecosystem.<\/p>\n<h2 dir=\"ltr\">Optimism price surges 16% on Coinbase news<\/h2>\n<p dir=\"ltr\">Sentiment across the OP community flipped bullish as reaction to Coinbase news pushed OP token higher.<\/p>\n<p dir=\"ltr\">According to Coinbase, Base will offer \u201c<em>a secure, low-cost and developer-friendly<\/em>\u201d platform for people to create, deploy or interact with decentralized apps. The project\u2019s goal is to onboard the next 1 billion or more people into the crypto space, the digital asset platform noted.<\/p>\n<p dir=\"ltr\">Base is built on Optimism\u2019s OP stack, Coinbase announced.\u00a0<\/p>\n<p dir=\"ltr\">While the news saw another unrelated cryptocurrency called Base Protocol spike more than 250% amid speculation, the price of Optimism also jumped. However, the native token OP did not rip as much as BASE did, with its price soaring roughly 16% on Coinbase.<\/p>\n<p dir=\"ltr\">OP surged to above $3.00 on most major exchanges that support the cryptocurrency, including $3.10 on Coinbase.\u00a0<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/01\/23\/1677189646734-c6267b71-ba81-42c7-97bf-5fa3523fe39b.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"242\"\/><span class=\"fr-inner\"\/><\/p>\n<p dir=\"ltr\"><em>OP\/USD price chart on Coinbase. Source:\u00a0<\/em><a href=\"https:\/\/www.tradingview.com\/x\/iQwnqx1w\/\" rel=\"noopener noreferrer\" target=\"_blank\"><em>TradingView<\/em><\/a><\/p>\n<p><\/span><br \/>\n<\/span><\/p>\n<p class=\"fr-img-space-wrap2\">Market activity was also up, with data from CoinGecko showing trading volume rose nearly 90% in the past 24 hours to over $733 million. Alongside the spike in buyside volume is the bullish flip of the relative strength index, which is upturned to suggest bulls are in control.<\/p>\n<\/div>\n<p dir=\"ltr\">Optimism price reached its <a href=\"https:\/\/coinjournal.net\/news\/optimism-price-op-surges-30-to-hit-new-all-time-high\/\">all-time high of $3.19<\/a> in early February this year, and with a positive technical outlook in place, it\u2019s likely OP\/USD could go on to hit a new ATH.\u00a0<\/p>\n<p dir=\"ltr\">Crypto trader and analyst HornHairs says this is likely if Bitcoin and Ethereum prices break above key resistance zones.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24OP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$OP<\/a> daily RSI reset at 50 and reclaimed bullish MS\u2026 chain to benefit the most from Coinbase announcement\u2026 ATH looks likely. <\/p>\n<p>If BTC and ETH can break these massive resistance levels I expect it to continue to lead. <a href=\"https:\/\/t.co\/rTlLy0nJXZ\">pic.twitter.com\/rTlLy0nJXZ<\/a><\/p>\n<p>\u2014 HornHairs \ud83c\udf0a (@CryptoHornHairs) <a href=\"https:\/\/twitter.com\/CryptoHornHairs\/status\/1628769961370963971?ref_src=twsrc%5Etfw\">February 23, 2023<\/a><\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/optimism-price-prediction-op-spikes-after-coinbase-launches-base-on-op-stack\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Optimism token OP rose 16% after Coinbase announced the launch of its L2 platform on OP stack. OP price hit highs of $3.10 on Coinbase, not far from its all-time high of $3.19. Gains for the OP token paled in comparison to the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18018"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=18018"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17215"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=18018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=18018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=18018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}