Optimism Price Prediction as Coinbase Launches Layer 2 Network Using Optimism Tech

[ad_1] <div>

<figure class="image"><img src="https://v2.cimg.co/news/105917/258958/optimism-price-prediction.jpg" alt="" srcset="https://v2.cimg.co/news/105917/258958/responsive-images/optimism-price-prediction___media_library_original_3706_2292.jpg 3706w, https://v2.cimg.co/news/105917/258958/responsive-images/optimism-price-prediction___media_library_original_1200_742.jpg 1200w, https://v2.cimg.co/news/105917/258958/responsive-images/optimism-price-prediction___media_library_original_900_557.jpg 900w, https://v2.cimg.co/news/105917/258958/responsive-images/optimism-price-prediction___media_library_original_720_445.jpg 720w, https://v2.cimg.co/news/105917/258958/responsive-images/optimism-price-prediction___media_library_original_600_371.jpg 600w, https://v2.cimg.co/news/105917/258958/responsive-images/optimism-price-prediction___media_library_original_300_186.jpg 300w" sizes="100vw" width="3706" class="content-img"/><figcaption>Supply: TradingView</figcaption></figure>The Optimism value has shot up by 11% up to now 24 hours, boosted by the information that <a target="_blank" href="https://cryptonews.com/news/today-in-crypto-coinbases-new-blockchain-testnet-spotifys-token-enabled-playlists-3acs-nft-sale-metacos-partnership-with-dz-bank-ag.htm" rel="noopener">Coinbase will be launching its own layer-two network for Ethereum</a> utilizing Optimism-based know-how. At $3.14, it has risen by 20% in per week and by 58% within the final 30 days, with rising utilization of the Optimism community itself additionally serving to to assist positive factors.Coinbase's use of Optimism's open-source OP Stack for creating its layer-two sidechain may assist to spice up the Optimism ecosystem considerably within the coming months, significantly with Coinbase now becoming a member of Optimism as a core developer for the latter's growth stack. And with the expansion of Ethereum additionally serving to to spice up utilization of Optimism, native token OP may find yourself being one in every of 2023's greatest gainers.<h2>Optimism Value Prediction as Coinbase Launches Layer 2 Community Utilizing Optimism Tech – OP to the Moon?</h2>OP's chart reveals that the altcoin has begun what may very well be a really vital rally. Firstly, its 30-day shifting common (pink) has lately risen over its 200-day common (blue), suggesting a breakout that has actually solely simply begun.<figure class="image"><img alt="" sizes="100vw" width="3772" class="content-img lazyload" src="https://v2.cimg.co/news/105917/258951/chart-optimism-price-pred.jpg" srcset="https://v2.cimg.co/news/105917/258951/responsive-images/chart-optimism-price-pred___media_library_original_3772_2236.jpg 3772w, https://v2.cimg.co/news/105917/258951/responsive-images/chart-optimism-price-pred___media_library_original_1200_711.jpg 1200w, https://v2.cimg.co/news/105917/258951/responsive-images/chart-optimism-price-pred___media_library_original_900_534.jpg 900w, https://v2.cimg.co/news/105917/258951/responsive-images/chart-optimism-price-pred___media_library_original_720_427.jpg 720w, https://v2.cimg.co/news/105917/258951/responsive-images/chart-optimism-price-pred___media_library_original_600_356.jpg 600w, https://v2.cimg.co/news/105917/258951/responsive-images/chart-optimism-price-pred___media_library_original_300_178.jpg 300w"/><figcaption>Supply: TradingView</figcaption></figure>On high of this, OP's relative power index (purple) has simply handed 70, indicating some very robust shopping for momentum. On condition that the RSI hasn't reached 80 (or greater) but, OP nonetheless has loads of room to proceed to rise earlier than it turns into overbought.If OP can break via the $3.15 resistance degree, its rally might proceed into the weekend, bringing with it additional positive factors and probably consolidation round a brand new, greater degree. After all, this additionally relies on normal market bullishness, however OP actually has sufficient momentum by itself to witness extra rises within the very close to future.And no matter whether or not OP rallies extra within the quick time period, it is clear that yesterday's information about Coinbase and its Base layer-two community is an enormous win for Optimism. With America's greatest change successfully becoming a member of the Optimism ecosystem as one in every of its core builders, Optimism will doubtless expertise steadily rising adoption over time, indicating extra demand for OP.As written in <a target="_blank" href="https://www.coinbase.com/blog/introducing-base" rel="noopener">the blog accompanying Coinbase's announcement</a>, "Base is constructed on the MIT-licensed OP Stack, in collaboration with Optimism. We’re becoming a member of because the second Core Dev group engaged on the OP Stack to make sure it’s a public good accessible to everybody."Though Coinbase can be constructing its personal layer-two sidechain, using core Optimism code will principally imply that lots of the dApps that launch on Base may fit or interoperability with Optimism. So even when Base grows to turn into one of many greatest layer twos in crypto, its development ought to feed into the expansion of Optimism itself.<figure class="media"><oembed data-embedo-height="400" data-embedo-url="https://twitter.com/Route2FI/status/1628838344724471808"/></figure>The market appears to agree with this evaluation, on condition that OP has risen by over 10% within the final 24 hours, in addition to by over 230% because the begin of the 12 months.Most of this achieve is not all the way down to Coinbase's information from yesterday however from the constant development Optimism has loved as a layer-two community for Ethereum. Certainly, <a target="_blank" href="https://defillama.com/chain/Optimism" rel="noopener">its total value locked in</a> has expanded by round 82% since January 1, reaching $914.26 million as of writing.This indicators how Optimism has turn into one of many greatest layer-two networks for Ethereum within the cryptocurrency ecosystem. And with Ethereum prone to solely cement its place because the dominant layer-one within the coming years, it is also doubtless that Optimism will solely develop with it.As such, OP may very well be anticipated to rise to $3.19 within the coming days, with this value being its present all-time excessive (set as lately as February 3 of this 12 months). From there, it may probably reached $3.30 or $3.40 by the center of the 12 months, and probably a lot greater by the shut of 2023.<figure class="media"><oembed data-embedo-height="400" data-embedo-url="https://twitter.com/Token_Matrix/status/1629046784063406081"/></figure><a target="_blank" href="https://cryptonews.com/ext/etoro/en" rel="noopener">Buy Crypto Now</a><h2>Optimism Options</h2>As bullish as OP seems proper now, there are different high-potential cash presently accessible out there. Accordingly, we have reviewed such tokens on this record of the highest 15 cryptocurrencies for 2023, as analyzed by the Cryptonews Trade Speak group.The record is up to date weekly with new altcoins and ICO initiatives.Disclaimer: The Trade Speak part options insights by crypto business gamers and isn't part of the editorial content material of Cryptonews.com.

</div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> [ad_2] <a href="https://cryptonews.com/news/optimism-price-prediction-as-coinbase-launches-layer-2-network-using-optimism-tech-op-moon.htm">Source link </a>