Ethereum

Future

Optimism

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/optimism-network-faces-tvl-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Optimism Network Faces TVL Decline</a><br></p>
<p style="text-align: justify">Ethereum-based Layer-2 network, Optimism, has seen a notable decline in its total value locked (TVL), with current figures at $643 million, the lowest since October 2023. TVL represents the total value of all cryptocurrencies locked within decentralized finance (DeFi) protocols on the network.</p>
<h2 id="why-is-optimism-s-tvl-dropping">Why is Optimism’s TVL Dropping?</h2>
<p style="text-align: justify">The decrease in TVL indicates that users are withdrawing their assets due to market downturns or heightened volatility. Optimism had previously reached a peak TVL of $1.05 billion on March 17, but it has been on a downward trajectory since then.</p>
<p style="text-align: justify">Last month alone, Optimism’s TVL fell by 18%, mirroring an overall decline in the cryptocurrency market, which stands at $2.23 trillion. The global cryptocurrency market value dropped by 12% over the past month, affecting liquidity on Layer-2 networks and reducing Optimism’s monthly revenue by 9% to $2.33 million.</p>
<h2 id="how-is-the-op-altcoin-performing">How is the OP Altcoin Performing?</h2>
<p style="text-align: justify">Currently, the OP altcoin is trading at $1.51, having declined 32% in the past month due to general <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>. Data from a one-day price chart shows a significant downward trend for the altcoin.</p>
<p style="text-align: justify">However, a potential approval of the Ethereum ETF this month could result in a price surge for OP. Asset managers such as VanEck, Grayscale, and others have submitted amended registration statements for spot ETH ETFs to the U.S. Securities and Exchange Commission.</p>
<h2 id="potential-future-indicators">Potential Future Indicators</h2>
<p style="text-align: justify">– Approval of Ethereum ETFs could boost OP’s value.<br> – Increased demand for Layer-2 networks may raise OP’s price.<br> – A positive correlation with Ethereum may benefit OP’s market performance.</p>
<p style="text-align: justify">With new funds possibly going live and renewed interest in Layer-2 solutions, OP’s price could surpass the $1.7 mark. This could mark a significant recovery for the altcoin and Optimism network as a whole.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/optimism-network-faces-tvl-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Optimism Network Faces TVL Decline</a></h5>

Optimism Network Faces TVL Decline

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Інші статті, опубліковані 9 лип. 2024 р.

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