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

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 trades at around $3.22 (on Binance), charting a fresh all-time high.

Source: TradingView

• The impressive price performance comes on the back of a considerable increase in the total value locked in the protocol, which is currently sitting at a 3-month high.
• The last time the TVL was so high was back in November 2022.
• It’s also worth noting that OP is amongst the leaders in derivatives trading volume, and its tumultuous price action has led to about $3.5 million worth of liquidated positions in the past day alone.
• As CryptoPotato reported yesterday, the Optimism Foundation released a proposal regarding upgrading the mainnet to provide a “new level of modularity, simplicity, and Ethereum equivalence for Layer-2 solutions, providing unprecedented performance and functionality.”
• The upgrade would also reduce transaction costs, and increase throughput characteristics and sync speeds.

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