Optimism’s price rose the highest among all other Layer 2 (L2) chains. OP surged by more than 13% in the past 24 hours, per data from CoinMarketCap.
Furthermore, the volume jumped by more than 140%, surpassing $200 million, with the volume-to-market-cap ratio sitting at 29%. This indicated enough liquidity for trading the token.
At press time, OP was fifth in terms of performance across coins in the top 100 by market cap. The activity on Optimism’s Superchain was in line with the price performance.
Optimism chain activity surges
Chain activity on Optimism has been on the rise since the start of 2025 and proved to be even more robust since 2026 started.
Per data from Token Terminal, the transaction count on the day surpassed 2.5 million. OP has maintained this range since the year started, with the total count approaching 1 billion transactions.
In fact, the count was at 921.9 million at the time of writing.
Optimism was also among the most capped projects among L2 chains. Mantle was the largest, with a 39.8% share, while Arbitrum One and OP Mainnet trailed behind with 13.6% and 9%, respectively.
Numerically, the OP Mainnet had a fully diluted market cap of more than $1.3 billion at the time of writing.
Will OP’s price sustain its position above the reversal pattern?
OP breaks above key reversal pattern
On the charts, OP had broken above the neckline of the inverted heads-and-shoulders pattern at $0.3388. This indicated that the market structure had shifted from a bear one – usually a reversal pattern.
Technically, structure was shifting, as the MACD and Stochastic RSI readings showed. The MACD was bullish with the signal line above the neutral line, while the RSI was trading around oversold conditions.
This meant that bulls were driving OP’s price.
The continuation of this shift depended on if OP stayed above the breakout zone at $0.3388. The perfect scenario would be price retesting this level and holding above it for a move toward $0.45.
Conversely, failure to hold above the neckline would invalidate the current bullish structure. This would mean a revert back to levels around the shoulders at $0.28 or at the head, which was at $0.25.
In case of a continued bullish trend, the rally could be accelerated by the 12-month buyback proposal, as earlier reported by AMBCrypto.
Buybacks usually lead to a supply crunch, which fuels uptrends if the same is followed by demand for the token.
Final Thoughts
- Optimism surged 13% in price while volume pumped by 140% in the past 24 hours.
- The chain’s activity and the broader market resurgence drove OP’s price during the day.
