Optimism Price
(OP)
USD($)
Optimism (OP) Live Price Chart
Overview
About
Analysis
FAQ
Optimism Live Price Data
The live price of Optimism is $1.8, with a total trading volume of $ 862,179 in the last 24 hours. The price of Optimism changed by -1.2% in the past day, and its USD value has decreased by -6.15% over the last week. With a circulating supply of 1.35B OP, the market cap of Optimism is currently 2.47B USD, marking a --% increase today. Optimism currently ranks #38 in market cap.
How do you feel about Optimism today?
Note: This data is for reference only.
Optimism(OP) Profile
Rank38
BBBExpand 
Website
Documentation
Explorer
Contract
- Optimism 0x420000...042
Audited By
- --
Code & Community
Investors
- a16z (Andreessen Horowitz)
- Paradigm
- Nascent
$1.76
$1.92
- ATH
- $4.84
- Price Change (1h)
- -1.80%
- Price Change (24h)
- -1.20%
- Price Change (7d)
- -6.15%
- Market Cap
- $2.47B
- 24h Volume
- $862,179
- Circulating Supply
- 1.35B
- Max Supply
- 4.29B
About OP
How can I buy Optimism (OP)?
Buying OP on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Optimism (OP) for more information. What Is Optimism (OP) Crypto?
Optimism is a Layer-2 Ethereum rollup that provides developers and decentralized applications (dApps) with a faster and cost-effective ecosystem for development and operation. This open-source, secure, and permissionless platform offers an efficient alternative to Ethereum dApps, boasting faster transaction speeds, enhanced scalability, and reduced gas fees.
The OP token is the native digital asset within the Optimism ecosystem, playing a crucial role in the Optimism Collective's functionality. This ERC-20 token, introduced by the Layer-2 scaling solution in May 2022, is essential for various activities within the platform.
In early 2023, Optimism announced an airdrop of OP tokens to its user base, including Optimism users, voters on its DAO, multisig signers, and individuals who have contributed to Gitcoin Grants on Ethereum Layer-1.
Optimism goes beyond EVM (Ethereum Virtual Machine) compatibility, offering EVM equivalence. This feature enables the ecosystem to support all applications and tools that operate on Ethereum, providing developers with a seamless transition to a more operationally efficient alternative.
The Optimism platform supports numerous decentralized applications and integrations across DeFi, NFTs, bridges, on-ramps, wallets, tools, portfolio trackers, and DAOs. Additionally, it offers its bridge to facilitate the transfer of ETH and ERC-20 assets to the Optimism network.
How Does Optimism Network Work?
The Optimism Layer-2 network is built on top of the Ethereum blockchain to enhance scalability and reduce transaction fees. Here's an overview of how Optimism works:
Optimistic Rollup Technology
Optimism utilizes Optimistic Rollup technology. In this approach, most transaction processing occurs off-chain, reducing the load on the Ethereum mainnet (Layer 1). Transactions are batched together and processed on the Optimism network.
Sequencer Nodes
The network relies on sequencer nodes. These nodes post the Merkle roots of transaction batches on the Ethereum mainnet. This ensures that the transactions processed on Optimism are secured and verifiable on the Ethereum Layer 1.
Economic Incentives
To maintain security and correctness, Optimistic Rollups use economic incentives. Validators or sequencer nodes have a stake in the network and can lose their deposits if they act maliciously. This incentivizes them to post transaction data on Layer 1 accurately.
Reduced Gas Fees
Optimism significantly reduces gas fees by processing transactions off-chain and aggregating them into Merkle roots compared to using Ethereum Layer 1 directly. This makes it more cost-effective for users and developers.
EVM Compatibility
Optimism offers Ethereum Virtual Machine (EVM) compatibility, ensuring that existing Ethereum smart contracts and dApps can easily migrate to the Optimism network.
Blockchain Interoperability
Optimism maintains a strong connection with Ethereum Layer 1. Users can bridge their assets between the two networks, allowing for seamless interaction and asset transfers.
History of Optimism Blockchain and OP Coin
Optimistic Rollup, a groundbreaking Ethereum scalability solution, was first proposed in June 2019. Its primary aim was to enhance Ethereum's capacity for supporting commercial applications effectively.
Unipig Testnet and EVM-Compatible Testnet
In October 2019, the Unipig testnet went live, marking an early milestone in Optimism's development. Subsequently, in September 2020, an EVM-compatible testnet was launched, aligning Optimism with Ethereum's core technology.
Alpha Mainnet and EVM Equivalent Mainnet
The Optimism journey continued with the Alpha mainnet's launch in January 2021, introducing the network to a broader audience. In October 2021, the EVM equivalent mainnet followed suit, further solidifying Optimism's presence in the blockchain space.
Optimism Governance: OP Token and Optimism Collective
May 2022 marked a significant milestone as Optimism's development team introduced the governance token known as OP and the formation of the Optimism Collective. These initiatives aimed to enhance community participation and influence.
Looking ahead, Optimism's roadmap includes exciting developments. In 2023, it plans to release a sharded rollup, focusing on incentivizing verification and decentralizing the sequencer for block production. Moreover, Optimism has ambitious plans to introduce L1-governed fault proofs in 2024.
Optimism (OP) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.022 | -1.21% |
| 7 Days | $-0.095 | -4.93% |
| 30 Days | $-0.617 | -25.22% |
| 3 Months | $0.142 | 8.47% |
24H Investment Barometer
24H
- Buy
- The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Strong SellSellNeutralBuyStrong Buy
Optimism Conversion Rate
FAQ
How much is 1 Optimism (OP) worth?
KuCoin provides real-time USD price updates for Optimism (OP). Optimism price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time OP to USD exchange rates. Is Optimism (OP) a Good Investment?
Let’s take a look at some reasons why you could invest in $OP coin:
Strong Adoption of OP Ecosystem
Optimism's decentralized ecosystem has already gained significant traction among developers and users. This robust adoption serves as a positive indicator for its potential growth.
Impressive DeFi TVL
As of October 2023, Optimism boasts a Total Value Locked (TVL) in the decentralized finance (DeFi) sector exceeding $655 million. This demonstrates its relevance and utility within the DeFi space.
Continued Demand for Layer-2 Scaling Solutions
With Ethereum's ongoing challenges related to network congestion and high gas fees, Layer-2 scaling solutions like Optimism are in high demand. This demand is driven by projects seeking enhanced scalability and cost-efficiency.
Future Potential with Web3 dApps
The widespread adoption of blockchain-based Web 3.0 dApps could further fuel demand for the Optimism ecosystem. This increased demand may positively impact the Optimism price and market cap, making OP an appealing addition to cryptocurrency portfolios.
What Is Optimism Price Prediction?
While the volatile nature of the crypto market doesn’t let us offer an accurate OP price prediction, the following factors could help you understand the price action and volatility in Optimism cryptocurrency:
Level of Optimism’s Adoption
The adoption of the Optimism network and the usage of OP tokens within its ecosystem are critical. Higher adoption and utility can drive demand, positively impacting the $OP price.
Ethereum Performance
Since Optimism is a Layer-2 solution for Ethereum, the performance and scalability of the Ethereum network can impact the Optimism price. Ethereum network improvements or issues can affect the attractiveness of Optimism, supporting OP/USDT price.
Level of Competition in Layer-2 Networks
Competition from other Layer-2 solutions and blockchain technologies can influence the price of Optimism crypto. Investors may choose alternatives if they offer better features or advantages.
Developments in the Optimism Ecosystem
Partnerships with other projects or integrations with existing blockchain platforms can increase OP's visibility and utility, potentially boosting the OP coin price.
The level of developer activity and ongoing improvements to the Optimism network can affect confidence in the project and, consequently, the OP crypto price.
Crypto Market Conditions
General market conditions, including trends in the cryptocurrency market, trading volumes, and liquidity, can affect the Optimism value. Bullish trends often boost the price of $OP coin, while bearish trends can lead to corrections.
What Is OP Token Used for?
$OP is the native token of the Optimism network and has the following applications:
Governance Token of Optimism Network
The OP token provides holders with voting rights, enabling them to participate in critical decisions concerning the development and upgrades of the Optimism ecosystem. Users can also delegate their OP voting power to other network participants, further promoting collaborative decision-making.
Trade or HODL OP
You can trade Optimism crypto against other cryptocurrencies on the KuCoin Spot Market to profit from changing market conditions and volatility. Buy or sell OP, or hold it long-term for potential long-term value appreciation. Remember to DYOR before entering any new trade in the crypto market.
Earn Passive Income on KuCoin
Users can grow their OP holdings through KuCoin's Crypto Lending feature, capitalizing on the opportunity to earn passive income. Specify the quantity of OP tokens you intend to lend liquidity for and choose a lending duration of 7, 14, or 28 days.
What is the all-time high price of Optimism (OP)?
The all-time high price of Optimism (OP) is $4.850. The current price of OP is down 62.92% from its all-time high.
What is the all-time low price of Optimism (OP)?
The all-time low price of Optimism (OP) is $0.400. The current price of OP is up 349.18% from its all-time low.
How much Optimism (OP) is there in circulation?
As of 12 31, 2024, there is currently 1.35B OP in circulation. OP has a maximum supply of 4.29B.
What is the market cap of Optimism (OP)?
The current market cap of OP is $2.47B. It is calculated by multiplying the current supply of OP by its real-time market price of $2.47B.
How do I store Optimism (OP)?
You can securely store your Optimism in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your OP include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Optimism (OP) to cash?
You can instantly exchange your Optimism (OP) for cash using KuCoin's Fast Trade feature. This feature enables you to convert OP to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.