Bitcoin bulls were obliterated, but is it time to catch the falling knife?

Bitcoin derivatives show traders morale is low, weakening the odds of a 20% rise from the $49,320 BTC bottom.

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Optimism: Major Partnership Pushes OP Price By 24%

As the market gains more bullish momentum, Optimism (OP) investors become more enthusiastic after this weeks price actions. According to CoinGecko, the token is up more than 24% since last week which is currently supported by the strong bullish sentiment present within the market.  However, Optimism might have more surprises as the platform announces a [...]

The post Optimism: Major Partnership Pushes OP Price By 24% appeared first on Crypto Breaking News.

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Dencuns Aftermath: Ethereum Layer 2s See Surge in Failed Transactions

The Dencun upgrade doubled Ethereum L2 transactions but also caused higher failure rates, linked to bot activity.

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Optimism (OP) Bulls Sets Sights On $1.8, Is the Downtrend Doomed?

Optimism current price action has caught the markets attention as bullish momentum builds, driving the price toward the pivotal $1.8 level. This upward drive could mark a potential turning point, challenging the prevailing downtrend that has kept the bulls in check for weeks. As buyers regain control, speculations are, is the once-dominant bearish trend on the verge of collapse, or will resistance at $1.8 hold firm?  This analysis explores the recent positive momentum propelling Optimism toward the crucial $1.8 resistance level and assesses whether this push can halt the ongoing downtrend. It will also provide insights into potential outcomes and conclude with an outlook on whether the bulls can maintain their strength or if the bears are poised to regain control by examining technical indicators and key price levels. In the last 24 hours, OP has gained a 5.32% increase, reaching approximately $1.44. The crypto asset market capitalization has surpassed $1.7 billion, with trading volume exceeding $135 million. Over this period, the market cap has increased by 5.40%, while trading volume has surged by 11.78%. Assessing Optimisms Bullish Momentum Toward Key $1.8 Resistance Optimism’s price is currently bullish, trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart. If the bulls sustain their strength above this key indicator, it could drive the cryptocurrency toward further gains, aiming for the $1.8 resistance level. Also, the Relative Strength Index (RSI) indicates that Optimism could continue its surge toward the $1.8 resistance level. The signal line has risen above 50% and is trending around 69%, suggesting that upbeat pressure remains strong in the market. On the daily chart, OPs price is demonstrating stability following a successful rejection at the $1.4 mark. This steadiness suggests that the bullish momentum may persist, potentially enabling the price to rise further toward the $1.8 resistance level and the 100-day SMA. If the bulls continue to exert their influence, it could set the stage for more gains and reinforce the upward trend. Finally, the 1-day RSI indicates that bullish momentum for Optimism is building up, with the signal line currently around 50.81% after surpassing the 50% mark, indicating a potential for additional upward movement for the asset. Momentum And Market Moves: Whats Next For Optimism As It Eyes $1.8? Should the current propitious pressure continue and drive OPs price above the $1.8 level, it could signal the beginning of a bullish rally. The breakout might propel the asset toward the next resistance at $3 and potentially higher levels. However, if Optimism rebounds from the $1.8 level, it might retrace to its previous low of $1. A break below this level could indicate further downside momentum, potentially leading the cryptocurrency toward the $0.4 range and other lower levels. Featured image from iStock, chart from Tradingview.com

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Solana to $1K seems unlikely, but network fundamentals forecast $190 SOL

Analysts forecast $300 to $1,000 SOL, but network data suggests that a rally to $190 is a more realistic expectation.

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Optimism Suffers 21% Loss Will On-Chain Activity Regain Investor Trust?

Losses mount for Optimism as the market suddenly flips from bullish to bearish, wiping significant gains made after it rebounded last week. According to CoinMarketCap, the token is down over 21% since last month, putting significant pressure on investors as the market continues with its choppy trading days.  Despite the markets hostility in the past [...]

The post Optimism Suffers 21% Loss Will On-Chain Activity Regain Investor Trust? appeared first on Crypto Breaking News.

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Binance to Support Neutron (NTRN) and Optimism (OP) Network Upgrades

Binance announces support for the upcoming Neutron (NTRN) and Optimism (OP) network upgrades and hard forks, ensuring a smooth user experience. (Read More)

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Polygon, OP Devs Bash Matter Labs for Misleading Comparisons

Matter Labs draws backlash for comparisons made to its multichain architecture.

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NFTs face lowest monthly sales since November 2023

Despite having a lesser sales volume, NFTs showed a 73% increase in transactions recorded in July.

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Base outpaces Optimism and Arbitrum amid Coinbases Smart Wallet debut

Coinbase-backed Ethereum layer-2 network, Base, is experiencing rapid growth, reflecting the significant adoption and attention it enjoys from the crypto community. Base’s growth comes amid the exchange launch of its Smart Wallet, a self-custodial solution aimed at bringing more than 1 billion users on-chain. Increased network activity Base recorded the highest daily transactions among Ethereum […]

The post Base outpaces Optimism and Arbitrum amid Coinbase’s Smart Wallet debut appeared first on CryptoSlate.

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Whale Action Sends Optimisms $OP Token Into Bearish Territory

The Ethereum layer 2 blockchain, Optimism, has been facing bearish trends across all timeframes for its $OP token, as highlighted by Coinmarketcap data. Amidst price volatility and market uncertainty, OP trading volume spiked by over 70%. A recent report from Spotonchain revealed that a whale sold 2.095 million $OP tokens […]

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Major crypto projects to unlock $755M in July

About $755 million in crypto assets from AltLayer, Arbitrum, Optimism and other projects will be released in July as their vesting period concludes.

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Optimism Activates Fault-Proofs On Mainnet, OP Is Down 55% In 3 Months

In a major milestone for Ethereum and layer-2s, Optimism, a layer-2 scaling platform for the second most valuable network, has announced the activation of open source and permissionless fault proofs. Even though the platform manages over $7 billion of assets, according to L2Beat, Optimism, like most optimistic rollups, lacked a way of trustlessly verifying transactions. It relied on a centralized sequencer and fraud-proof system for this function. Optimism Activates Trustless Fraud-Proof System Activating the open-source fault-proof system is crucial to creating a more decentralized and secure future for the Optimism ecosystem. Overall, fault proofs are a critical component, allowing users to verify the validity of all offchain transactions. Related Reading: Ex-Ripple Director Explains XRP Price Slide Amid Good News Most importantly, it allows users to challenge any fraudulent activity on Optimism, creating a safeguard against unauthorized withdrawals, for example, and much more.   In a post, Optimism Labs said the layer-2 platform relied on a centralized system. Here, the Optimism Security Council held the power to initiate withdrawals. However, the platform eliminates this dependency with trustless fault proof in place. This means that any user can withdraw tokens without the council intervening. The power move is huge for the community and decentralization. Even so, to ensure the safe implementation of this fault-proof system, the Optimism Security Council will still have the power, at least temporarily, to intervene in cases of critical failures. This decision means Optimism will continue to operate securely as it decentralizes gradually.   Eventually, the platform plans to release a “multi-proof nirvana” that is open-source and modular, possibly including zero-knowledge proofs. This will go beyond the current “Cannon” system. Buterin Acknowledgement, But Why Is OP Crashing? Vitalik Buterin, the co-founder of Ethereum, acknowledged this milestone, welcoming Optimism to the “club of stage 1+ L2s.” Nonetheless, the co-founder still needed more zero-knowledge proof-based layer-2 platforms to join the ranks.   Optimism is the second layer-2 platform after Arbitrum to announce the release of fault-proof systems, though both are still being tested. Dubbed the Bounded Liquidity Delay (BOLD), Arbitrum’s fraud-proof system was launched on Testnet early last month. Despite this milestone, OP is firm but under pressure in the first half of June. Related Reading: Shiba Inu Loses 14% In Last 7 Days Will The Misery Worsen? At spot rates, OP is down roughly 55% from March highs. With Ethereum and Bitcoin prices under pressure, the token could break May lows of $1.8 with eyes on $1.1. Feature image on Canva, chart from TradingView

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Binance Completes CRV Integration on Arbitrum One and Optimism Networks

Binance enables CRV deposits and withdrawals on Arbitrum One and Optimism. (Read More)

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Binance Integrates Curve (CRV) on Arbitrum One and Optimism Networks

Binance completes integrations of Curve (CRV) on Arbitrum One and Optimism networks, enabling deposits and withdrawals. (Read More)

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Optimism reaches Stage 1 decentralization, implementing fault proofs

The team has implemented fault proofs on Optimism mainnet, and users can now independently initiate withdrawals without involvement from any trusted third parties.

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Base TVL surges to $8B just days after overtaking OP Mainnet

Base has topped the Ethereum layer-2 leaderboards by transaction count and has been the most profitable Ethereum scaler for three consecutive months.

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Optimism invites Layer-3 networks to join its Superchain, promising advanced features

Ethereum Layer-2 (L2) Optimism has urged Layer-3 (L3) blockchain to join its Superchain by building with OP Stack and sharing sequencer revenue with the Optimism Collective. Superchain is a decentralized blockchain platform comprising many chains that share security and a technology stack (OP Stack). It already boasts several successful L2 networks, such as OP Mainnet […]

The post Optimism invites Layer-3 networks to join its Superchain, promising advanced features appeared first on CryptoSlate.

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Optimism will roll out new features to support layer 3 on Superchain

Discover how Optimism's new features for custom gas tokens and plasma mode will enhance layer 3 support on the Superchain.

The post Optimism will roll out new features to support layer 3 on Superchain appeared first on Crypto Briefing.

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Ethereums Layer 2 Landscape: Base Secures Leading Edge in Capital Influx

In the recent analysis update shared on the X platform of the prominent analytics platform IntoTheBlock, it has been noted that Base, a Layer 2 solution of Ethereum, is doing better than its competitors in bringing in new investments. Base has received a huge amount of capital this week, where the net Ethereum (ETH) deposits […]

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