{"id":20998,"date":"2023-05-16T17:34:43","date_gmt":"2023-05-16T17:34:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/can-bedrock-upgrade-trigger-fresh-optimism\/"},"modified":"2023-05-16T17:34:43","modified_gmt":"2023-05-16T17:34:43","slug":"can-bedrock-upgrade-trigger-fresh-optimism","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/can-bedrock-upgrade-trigger-fresh-optimism\/","title":{"rendered":"can Bedrock upgrade trigger fresh optimism?"},"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\/2023\/05\/1684257459566-8c8872cf-8dd4-4add-90a2-c94838d7f906-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684257459566-8c8872cf-8dd4-4add-90a2-c94838d7f906-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684257459566-8c8872cf-8dd4-4add-90a2-c94838d7f906-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684257459566-8c8872cf-8dd4-4add-90a2-c94838d7f906-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">The Bedrock upgrade could be a major positive for Optimism, boosting the price of OP.<\/li>\n<li dir=\"ltr\">Increased adoption of Optimism could see further demand for OP, helping its price.<\/li>\n<li dir=\"ltr\">OP price was down 3% in the past 24 hours and 23% in the past two weeks as the token traded near $1.63 at the time of writing.<\/li>\n<\/ul>\n<p dir=\"ltr\">Optimism (OP), a Layer 2 scaling solution for Ethereum, has seen the price of its native token fall by 23% so far in May (as of 16 May, 2023).<\/p>\n<p dir=\"ltr\">The decline comes amid a broader sell-off in the cryptocurrency market, with <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin (BTC)<\/a> struggling for a foothold above $27,000 and <a href=\"https:\/\/coinjournal.net\/ethereum\/\">Ethereum (ETH)<\/a> retesting support areas near $1,800.<\/p>\n<p dir=\"ltr\">Sentiment across the broader crypto market continues to lean bearish after last week\u2019s downturn. Optimism price could therefore fluctuate with overall market outlook, particularly as cryptocurrencies are likely to react to macroeconomic news.<\/p>\n<p dir=\"ltr\">But one thing that could aid an uptick in positivity for the altcoin\u2019s price is the upcoming Bedrock upgrade.<\/p>\n<h2 dir=\"ltr\">Optimism price outlook- when is the Bedrock upgrade?<\/h2>\n<p dir=\"ltr\">On Monday, the L2 platform <a href=\"https:\/\/twitter.com\/optimismFND\/status\/1658202279147601921\" rel=\"noopener noreferrer\" target=\"_blank\">announced<\/a> the expected release date for the launch as 6 June 2023.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8The official date of OP Mainnet\u2019s upgrade to Bedrock has been set: June 6, 2023 at 16:00 UTC!<\/p>\n<p>The upgrade will require 2-4 hours of downtime for OP Mainnet.<\/p>\n<p>Visit Mission Control for full details on what to expect:<a href=\"https:\/\/t.co\/o6UjKZaVKy\">https:\/\/t.co\/o6UjKZaVKy<\/a><\/p>\n<p>\u2014 Optimism (\u2728\ud83d\udd34_\ud83d\udd34\u2728) (@optimismFND) <a href=\"https:\/\/twitter.com\/optimismFND\/status\/1658202279147601921?ref_src=twsrc%5Etfw\">May 15, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Bedrock is a major upgrade to the Optimism network that will make it faster, cheaper, and more secure.<\/p>\n<p dir=\"ltr\">Among the things to come with the Bedrock upgrade are network improvements to the effect of full EVM compatibility, higher scalability and reduced transaction fees.<\/p>\n<h2 dir=\"ltr\">Optimism (OP) price prediction<\/h2>\n<p dir=\"ltr\">Looking at OP price, it\u2019s down nearly 3% in the past 24 hours, 23% in the past two weeks and nearly 39% in the past 30 days.\u00a0<\/p>\n<p dir=\"ltr\">As CoinJournal recently <a href=\"https:\/\/coinjournal.net\/news\/crypto-price-predictions-tron-optimism-stacks-stx\/\">highlighted<\/a> in a price prediction for Optimism, Tron and Stacks, it appears the bears have the upper hand. This outlook remains with the current price at $1.63 being -49% from the all-time high of $3.22 reached on 24 February 2023.<\/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\/04\/16\/1684256880701-6cf19418-9a6e-44f0-8af4-f22b8b2d3b64.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"242\"\/><span class=\"fr-inner\">OP price chart. Source: <a href=\"https:\/\/www.tradingview.com\/x\/cAg2cxRB\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">While price reaction to the confirmation wasn\u2019t great, a flip in sentiment over the next two weeks could see OP\/USD take a new leg to the upside.<\/p>\n<\/div>\n<p dir=\"ltr\">Again, a successful upgrade could help boost the price of OP, with Optimism becoming a more attractive option for developers and users and increasing demand for the OP token. OP is currently oversold, but faces key resistances around $1.82 and $2.16.<\/p>\n<p dir=\"ltr\">On the downside, especially if the bearish technical picture holds, the token\u2019s price could fall to $1.15 and $0.87.<\/p>\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\/op-price-down-23-in-may-but-can-optimism-ride-the-bedrock-upgrade\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) The Bedrock upgrade could be a major positive for Optimism, boosting the price of OP. Increased adoption of Optimism could see further demand for OP, helping its price. OP price was down 3% in the past 24 hours and 23% in the past [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":20999,"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\/20998"}],"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=20998"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20999"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}