{"id":520780,"date":"2023-02-23T18:30:51","date_gmt":"2023-02-23T18:30:51","guid":{"rendered":"https:\/\/wncen.com\/?p=520780"},"modified":"2024-06-11T14:32:47","modified_gmt":"2024-06-11T14:32:47","slug":"optimism-op-surges-17-coinbase-launches-l2-on-op-stack","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/optimism-op-surges-17-coinbase-launches-l2-on-op-stack\/","title":{"rendered":"Optimism (OP) Surges 17% As Coinbase Launches L2 On OP Stack"},"content":{"rendered":"

Earlier today, digital asset exchange Coinbase <\/span>announced<\/span><\/a> the launch of its Ethereum L2 (Layer 2) network called \u2018Base\u2019 on the Optimism OP stack. This latest news has sent the Optimism network native token OP up nearly 18% in the last 24 hours.\u00a0<\/span><\/p>\n

Base is <\/span>Coinbase\u2019s latest launch<\/span><\/a>, a layer 2 blockchain designed <\/span>to be a low-cost, secure, and developer-friendly blockchain that will serve as a bridge to bring users into the crypto economy, according to Coinbase.\u00a0<\/span><\/p>\n

Optimism (OP) Surges Nearly 18% In 24 Hours<\/span><\/h2>\n

The latest announcement from Coinbase has increased hope among the <\/span>OP<\/span><\/a> community, which has been reflected in the market. Over the past 24 hours, the token has surged by 17.8%, pushing its price from a closing price of $2.3 as of yesterday to trading above $2.9 at the time of writing.\u00a0<\/span><\/p>\n

Related Reading: OP Token Down 5.35% Amid Optimism Foundation Delayed Upgrade Vote<\/a><\/div>\n

OP\u2019s trading volume has also <\/span>spiked significantly<\/span><\/a> from $458 million as of February 22 to as high as $754 million in the last 24 hours. Over the past seven days, it has added more than $150 million to its market cap, pushing the token to rank #75 in the largest crypto by market cap on Coinmarketcap.\u00a0<\/span><\/p>\n

\"Optimism
Optimism (OP) price is moving sideways on the 4-hour chart. Source: OP\/USD on TradingView.com<\/a><\/figcaption><\/figure>\n

Looking at the chart, OP seems to be gearing up for another rally. The chart shows a double bottom which signifies an upcoming uptrend, the first at $2.1 and the second at $2.4. Should OP continue its bullish trend, the token could go as high as $3.2 within a short period.\u00a0<\/span><\/p>\n

Meanwhile, OP has rallied by over 2x since the beginning of the year, after moving from its trading price below $1 late last year to recording a new all-time high of $3.19 earlier this month. Optimism is a <\/span>layer-two blockchain<\/span><\/a> on top of <\/span>Ethereum<\/span><\/a> that leverages optimistic rollups.<\/span><\/p>\n

The network\u2019s OP stack is <\/span>an open-source modular approach for building blockchains and<\/span>\u00a0enabling the combination of proprietary elements of various chains to create customized solutions for Ethereum.<\/span><\/p>\n

Coinbase Layer Two Network To Launch On OP Stack\u00a0<\/span><\/h2>\n

Announced February 23, Base is Coinbase\u2019s very own layer-2 network aimed at onboarding more than a billion users into the crypto economy with a \u201csecure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps (dApps),\u201d according to the <\/span>Coinbase announcement<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Optimism Edges Other L2s In Gas Efficiency, Despite Loss In TVL, Revenue<\/a><\/div>\n

The network is built for many reasons to enable interoperability among chains. It offers access to other L1 blockchains, such as Solana. The blockchain is said to kick off as a highly centralized network but will become decentralized over time.\u00a0<\/span><\/p>\n

According to Coinbase, its decentralization plan includes<\/span> working closely with OP Labs and the Optimism Collective to revamp the Optimism ecosystem. This plan targets more decentralization by creating a \u201cSuperchain\u201d connecting networks built on the OP Stack.<\/span><\/p>\n

Featured image from istock, Chart from TradingView.<\/div>\n","protected":false},"excerpt":{"rendered":"

Earlier today, digital asset exchange Coinbase announced the launch of its Ethereum L2 (Layer 2) network called \u2018Base\u2019 on the Optimism OP stack. This latest news has sent the Optimism network native token OP up nearly 18% in the last 24 hours.\u00a0 Base is Coinbase\u2019s latest launch, a layer 2 blockchain designed to be a low-cost, secure, and developer-friendly blockchain that will serve as a bridge to bring users into the crypto economy, according to Coinbase.\u00a0 Optimism (OP) Surges Nearly 18% In 24 Hours The latest announcement from Coinbase has increased hope among the OP community, which has been reflected in the market. Over the past 24 hours, the token has surged by 17.8%, pushing its price from a closing price of $2.3 as of yesterday to trading above $2.9 at the time of writing.\u00a0 Related Reading: OP Token Down 5.35% Amid Optimism Foundation Delayed Upgrade Vote OP\u2019s trading volume has also spiked significantly from $458 million as of February 22 to as high as $754 million in the last 24 hours. Over the past seven days, it has added more than $150 million to its market cap, pushing the token to rank #75 in the largest crypto by market cap on Coinmarketcap.\u00a0 Looking at the chart, OP seems to be gearing up for another rally. The chart shows a double bottom which signifies an upcoming uptrend, the first at $2.1 and the second at $2.4. Should OP continue its bullish trend, the token could go as high as $3.2 within a short period.\u00a0 Meanwhile, OP has rallied by over 2x since the beginning of the year, after moving from its trading price below $1 late last year to recording a new all-time high of $3.19 earlier this month. Optimism is a layer-two blockchain on top of Ethereum that leverages optimistic rollups. The network\u2019s OP stack is an open-source modular approach for building blockchains and\u00a0enabling the combination of proprietary elements of various chains to create customized solutions for Ethereum. Coinbase Layer Two Network To Launch On OP Stack\u00a0 Announced February 23, Base is Coinbase\u2019s very own layer-2 network aimed at onboarding more than a billion users into the crypto economy with a \u201csecure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps (dApps),\u201d according to the Coinbase announcement.\u00a0 Related Reading: Optimism Edges Other L2s In Gas Efficiency, Despite Loss In TVL, Revenue The network is built for many reasons to enable interoperability among chains. It offers access to other L1 blockchains, such as Solana. The blockchain is said to kick off as a highly centralized network but will become decentralized over time.\u00a0 According to Coinbase, its decentralization plan includes working closely with OP Labs and the Optimism Collective to revamp the Optimism ecosystem. This plan targets more decentralization by creating a \u201cSuperchain\u201d connecting networks built on the OP Stack. Featured image from istock, Chart from TradingView.<\/p>\n","protected":false},"author":580,"featured_media":516386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,87903,1393,54512,1946,84942,79567,86072,87902],"class_list":["post-520780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-base","tag-coinbase","tag-defi","tag-ethereum","tag-ethereum-layer-2","tag-layer-2","tag-op","tag-optimim"],"acf":[],"yoast_head":"\nOptimism (OP) Surges 17% As Coinbase Launches L2 On OP Stack<\/title>\n<meta name=\"description\" content=\"Earlier today, digital asset exchange Coinbase announced the launch of its Ethereum L2 ) network called \u2018Base\u2019 on the Optimism OP stack\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Optimism (OP) Surges 17% As Coinbase Launches L2 On OP Stack","url":"http:\/\/wncen.com\/news\/optimism-op-surges-17-coinbase-launches-l2-on-op-stack\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/optimism-op-surges-17-coinbase-launches-l2-on-op-stack\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","base","coinbase","defi","ethereum","ethereum layer 2","layer 2","op","optimim"],"dateCreated":"2023-02-23T18:30:51Z","datePublished":"2023-02-23T18:30:51Z","dateModified":"2024-06-11T14:32:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Optimism (OP) Surges 17% As Coinbase Launches L2 On OP Stack\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/optimism-op-surges-17-coinbase-launches-l2-on-op-stack\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/optimism-op-surges-17-coinbase-launches-l2-on-op-stack\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?fit=350%2C250\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"base\",\"coinbase\",\"defi\",\"ethereum\",\"ethereum layer 2\",\"layer 2\",\"op\",\"optimim\"],\"dateCreated\":\"2023-02-23T18:30:51Z\",\"datePublished\":\"2023-02-23T18:30:51Z\",\"dateModified\":\"2024-06-11T14:32:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520780"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=520780"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/516386"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=520780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=520780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=520780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}