Tag Archives: Optimism (OP)

Optimism network-based decentralized credit market Exactly Protocol became the target of exploitation on August 18th. The breach resulted in a significant drop in the platform’s total value locked (TVL). Meanwhile, Exactly’s recently-announced native token – EXA – slumped by more than 27% over the past day. The protocol was halted temporarily. Another DeFi Project Hacked Blockchain security firm PechShield was the first to alert Exactly Protocol of the attack and warned users...

Arbitrum has managed to rake in a significant market share as demand for Ethereum rollups soars. According to data shared by CoinShares, Arbitrum remains the top destination for capital flows away from Ethereum, among other protocols as well as layer 2s. As of May-end, the network attracted capital worth $4 billion. Closely following Arbitrum is Polygon raking in capital worth $3 billion, followed by Optimism with $983 million, and dYdX with $342 million, the stats revealed....

Coinbase-incubated Base is gearing up for a mainnet launch as the Ethereum layer 2 ecosystem heats up. Path to Base mainnet includes a certain set of objectives to be met. The official timeline for the mainnet launch has not been revealed yet, but Optimism’s upcoming Bedrock upgrade remains a crucial factor. Base Mainnet The Base testnet, which is based on a roll-up agnostic superchain powered by Optimism, has been running since February this year, during which it focused on...

Optimism, a popular layer-2 blockchain, is set to release its long-awaited Bedrock upgrade on June 6th at 16:00 UTC. The Bedrock release – which is a complete rewrite of an entire rollup stack – is expected to be the largest upgrade ever released on OP Mainnet with a focus on reducing fees and improving Ethereum compatibility. Bedrock Upgrade According to the official announcement, the upgrade will require 2-4 hours of downtime for OP Mainnet, during which there will be...

VC giant Andreessen Horowitz noted that more systems will help in offering more robust decentralization for the Optimism platform. On Wednesday, April 19, the crypto wing of the venture capital firm Andreessen Horowitz (a16z) announced its blockchain infrastructure plan of working on a roll-up client for Optimism (OP) dubbed Magi. This helped Optimism’s native OP token to recover from the broad market sell-off on early Wednesday. Yesterday, the Optimism (OP) token price jumped all the way...

Arbitrum has already been leading the pack in the layer 2 roll-up. However, the daily transactions on the protocol hit 1.14 million on February 21st, surpassing Ethereum mainnet, which recorded 1.05 million. According to the on-chain data on Dune Analytics, this is a new record high for the scaling solution. Since the beginning of the year, daily transactions on the blockchain have been on an uptrend surging by over 273% in less than two months. In comparison, the same metric...

The long-awaited second airdrop of Ethereum’s layer-two scaling solution – Optimism – is here. The protocol distributed a total of 11.7 million OP tokens to over 300,000 addresses. The price of OP dropped after the announcement. Many have been expecting the second airdrop of the popular Ethereum layer-two scaling solution, Optimism. The first one saw around 200 million OP tokens airdropped to 250,000 early adopters, and some of them received up to $20K worth of tokens on the...

The cryptocurrency industry, in general, became a lot more popular in the past couple of years. This saw the development and launch of hundreds, if not thousands, of decentralized applications (dApps) in various fields, such as DeFi, gaming, learning, trading, investing, and whatnot. There are many reasons for this, including but not limited to the massive bull run in 2021, the rise of non-fungible tokens, the popularity of memecoins, and more. This saw hundreds of thousands...

Optimism continues to perform. The cryptocurrency just painted a fresh all-time high which, at this point, happens almost daily. This brings its total gains for the week to around 43%. Optimism continues to be one of the best performers within the cryptocurrency market, and its native token – OP – managed to increase by 43% in the past seven days. Its monthly gains are even more impressive, clocking in at around 230% for the past 30 days. At the time of this writing, OP...

OP – the governance token of Ethereum layer 2 scaling solution Optimism – surged by more than 30% over the past 24 hours from $2.23 to $2.92, hitting a fresh all-time high. The price action comes after Optimism Foundation released a proposal regarding upgrading the Optimism mainnet to Bedrock. The proposal stated that the upgrade seeks to provide a “new level of modularity, simplicity, and Ethereum equivalence for Layer 2 solutions, providing unprecedented performance and...