Optimism (OP) Skyrockets to New ATH, Gains Over 40% Weekly

Optimism continues to appear. The cryptocurrency has just painted a new all-time high that, at this point, is occurring almost daily.

This brings his total gain for the week to about 43%.

• Optimism continues to be one of the best players in the cryptocurrency market, and its native token – OP – managed to increase by 43% in the last seven days.
• The monthly gains are even more impressive, reaching around 230% over the last 30 days.
• At the time of writing, OP is trading around $3.22 (on Binance), setting a new all-time high.

• The impressive price performance comes on the back of a sizeable increase in the total value locked in the protocol, which is currently at a 3-month high.
• The last time the TVL was that high was in November 2022.
• It should also be noted that OP is one of the leaders in derivatives trading volume, and its volatile price action has led to around $3.5 million worth of liquidated positions in the last few days alone.
• As CryptoPotato As reported yesterday, the Optimism Foundation released a proposal on upgrading the mainnet to provide “a new level of Ethereum modularity, simplicity, and equity for Layer-2 solutions, delivering unprecedented performance and functionality.”
• The upgrade will also reduce transaction costs, and improve throughput characteristics and sync speed.