OP, the native token of leading Ethereum Layer-2 (L2) Optimism, has recorded a new all-time high (ATH) of $4.51 on Tuesday, March 5, according to data from CoinGecko.
All OP Holders in Profit
Data from on-chain analyst IntoTheBlock shows that with the current price, all holders of OP are now in profit. The data revealed that amongst all holders, the highest paid price for the token was 4.01% before it hit the latest milestone.
As displayed by IntoTheBlock, approximately $1.06 million addresses currently holding OP are in profit.
Optimism is a leading layer-2 scaling solution for the Ethereum network. The L2 aims to improve the scalability, speed, and affordability of Ethereum transactions by processing them off-chain before finalizing them on the main Ethereum blockchain.
Optimism Grows in Popularity
OP’s price has risen in recent months as the popularity of L2 scaling solutions has grown. As one of the top L2 solutions, its token has benefited from the increased interest in the market.
As one of the leading L2 solutions for Ethereum, Optimism boasts $1.027 billion in total value locked (TVL). Moreover, the platform houses 97 protocols, including derivatives exchange Synthetix, decentralized exchange Uniswap, and automated market maker VELO.
According to its Website, Optimism has saved $3 billion in gas fees, amassed $2 billion in on-chain value, and processed over 141 million transactions on its mainnet.
The fact that all holders of the OP token are now in profit following the new record high is a sign of strong bullish sentiment around the token and its ecosystem.
At the time of wiring, OP was trading at $4.42, gaining 13.12% in 24 hours. With its current price, the token has surged 13% over the past week, 14% in the past two weeks, 30% over the past 30 days, and 84% since the beginning of the year.
