OP Price Analysis August 2022

OP is a token of platform Optimism. Its current price is around $1.93 by the time of writing, with a low of $0.4005, and its market cap is 451 million dollars.

What is Optimism?

Optimism is an open-source, secure, permissionless, and decentralized technology with a computing capacity matching that of Ethereum. It is, in fact, compatible with all of the Ethereum apps and tools out there – without any need for active management or changes. Optimism is one of the biggest Ethereum second-layer dapps, with over $300 million locked in its smart contracts. Optimism aims to make Ethereum transactions more affordable and faster by using Optimistic Rollups, a technique where multiple transactions are rolled up into one transaction.

What is OP?

OP is the token of the Optimism platform, which is around $1.93 by the time of writing, with a low of $0.4005. It reached a high of $4.57, and its current ranking is #91 according to CoinMarketCap, with a market cap of 451 million dollars. OP Crypto is an investment firm that invests in crypto and blockchain projects. A senior executive from Huobi also backs them. OP aims to provide low-cost and near-instantaneous Ethereum transactions. Their OP cryptocurrency powers the Token House, which will be one of the divisions of Optimism Collective, alongside Citizens.

OP Coin Market Analysis 

OP has a total supply of 4,294,967,296 coins worth around $1.93 with a market volume of 462 million dollars, whereas the market capitalization is 451 million dollars at writing. 

OP Price Prediction

According to experts, the current price of [Optimism] could be $2.39 in December 2022 and up to $5.72 in December 2025. Potential investors should be aware that this is a new cryptocurrency. While the platform has been popular, OP is still a risky asset, and your capital might be at risk. On the 2H timeframe, the price action of $OP/USDT works inside the descending triangle. We must wait for a successful breakout or breakdown to confirm its next move.

For any time, on-demand analysis on $OP or any other coin can join our Telegram channel.

Op Price Chart August 2022
OP Price Chart August 2022

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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