Token

Optimism

OP Coin

Coin

One of the most popular layer 2 solutions, Optimism has managed to stay strong in terms of network power in the face of increasing competition, if not in terms of price. As alternatives in cryptocurrencies continue to grow, OP <a href="https://en.coin-turk.com/pepe-pepe-cryptocurrency-stands-out-with-a-remarkable-63-weekly-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Token</a> is among the newly introduced altcoins in our lives. So, what do the current network data and price predictions indicate? What does the medium-term outlook say?
<h2 style="text-align: justify" id="optimism-op-analysis">Optimism (OP) Analysis</h2>
The third quarter of 2023 was challenging for most cryptocurrencies. Many networks experienced significant losses due to lack of interest. During this period, Optimism’s main network activities saw a significant increase, with a 38% growth recorded with a daily active address of 96,000. SUI Coin was a hyped project, but it dropped below 500 daily several times during the same period.
The number of new addresses remained steady at 17,000 daily, and a cumulative total of 1.5 million new addresses were added throughout the quarter. This figure surpasses the weekly new user performance of most competitors.
An average of half a million transactions were conducted daily, and all these numbers indicate that the network is truly being used. Shibarium, SUI, and many other smart contract platforms cannot even imagine Optimism’s daily figures.
The average transaction fee decreased by 45% to $0.28 in the third quarter. 83% of the transactions were in the <a href="https://en.coin-turk.com/this-altcoin-on-the-ethereum-eth-network-has-reached-a-critical-level/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi</a> category. However, Optimism’s TVL (Total Value Locked) experienced a 20% decrease and ended the third quarter at $720 million. The dollar-based decrease in TVL is also related to cryptocurrency prices.
<img decoding="async" class="size-full wp-image-271375 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/OP-Coin-Yorumlari.jpeg" alt="" width="2048" height="1168">
Current data for the medium and long term indicates a bright future for Optimism (OP).
<h2 style="text-align: justify" id="op-coin-price-prediction">OP Coin Price Prediction</h2>
Optimism had an eventful third quarter with key launches, airdrops, and network updates. So, what do expectations and comments point to in terms of price? The native token of this popular scaling solution is finding buyers at $1.37. On October 20th, the price hit a local low of $1.15 and if it fails to surpass $1.47, it could drop to $1.33.
<img decoding="async" class="size-full wp-image-271374 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/OPUSDT_2023-10-29_09-25-32.png" alt="" width="1814" height="847">
OP Coin approached the $2 mark on August 8th but has not been able to fully benefit from this month’s rally. Investors will not receive a true comeback signal without daily closes above $1.47-48. In a scenario of possible growth, it could surpass $2 after reaching $1.62 and $1.83. The price, which has fluctuated greatly, faced significant selling pressure at resistance levels. On the weekly chart, the targets are $1.5, $1.82, and $2.74. Continue Reading: <a href="https://en.coin-turk.com/optimism-op-analysis-network-growth-and-price-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/optimism-op-analysis-network-growth-and-price-predictions/</a>

Optimism (OP) Analysis: Network Growth and Price Predictions

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