• Coinbase announced the launch of its L2 platform on OP stack, causing Optimism token (OP) to surge 16% in price.
• Base Protocol, an unrelated cryptocurrency, saw 250% gains due to speculation.
• OP/USD trading volume rose nearly 90% and RSI suggests bulls are in control.
Coinbase Launches Layer-2 Platform On OP Stack
Coinbase recently announced the launch of its Layer-2 platform on OP stack. This news caused the Optimism token (OP) to surge 16%, reaching highs of $3.10 on Coinbase, not far from its all-time high of $3.19.
Base Protocol Spikes 250% Amid Speculation
An unrelated cryptocurrency called Base Protocol saw staggering gains of 250%, likely due to speculation following Coinbase’s announcement.
Trading Volume Up 90% & Bulls In Control
As a result of the news, trading volume for OP/USD rose nearly 90%, according to CoinGecko data, while the relative strength index (RSI) suggests bulls are in control.
Optimism Price Could Reach New ATH
Optimism price reached its all-time high of $3.19 in early February this year and with a positive technical outlook in place, it’s likely that OP/USD could go on to hit a new ATH.
Overall, Coinbase’s announcement has been met with bullish sentiment across the crypto community as people speculate about further gains for both Optimism and Base Protocol tokens.