Optimism’s price has increased the most among all other Layer 2 (L2) chains. OP surged more than 13% in the past 24 hours, according to data from CoinMarketCap.
Additionally, volume surged more than 140%, surpassing $200 million, with the volume-to-market cap ratio sitting at 29%. This indicated sufficient liquidity to trade the token.
At press time, OP was fifth in terms of coin performance in the top 100 by market cap. Activity on the Optimism Superchain was in line with price action.
Optimism Channel Activity Increases
Channel activity on Optimism has been on the rise since the start of 2025 and has proven even more robust since the start of 2026.
According to Token Terminal data, the number of transactions that day exceeded 2.5 million. OP has maintained this range since the start of the year, with the total number approaching 1 billion transactions.
In fact, the tally stood at 921.9 million at the time of writing.
Source: Token Terminal
Optimism was also among the most capped projects among L2 channels. Mantle was the largest, with a 39.8% share, while Arbitrum One and OP Mainnet lagged behind with 13.6% and 9% respectively.
Numerically, OP Mainnet had a fully diluted market capitalization of over $1.3 billion at the time of writing.
Source: Token Terminal
Will OP price maintain its position above the reversal trend?
OP overcomes the key inversion model
On the charts, OP had risen above the neck line of the inverse heads and shoulders pattern at $0.3388. This indicates that the market structure had shifted from a bearish structure – generally a reversal trend.
Technically, the structure was changing, as shown by the MACD and Stochastic RSI readings. The MACD was bullish with the signal line above the neutral line, while the RSI was trading in oversold conditions.
This meant that the bulls were driving up the price of OP.
The continuation of this change depended on OP remaining above the breakout zone at $0.3388. The perfect scenario would be for the price to retest this level and hold above it to move towards $0.45.
Source: TradingView
Conversely, failing to hold above the neck line would invalidate the current bullish structure. This would mean a return to levels around the shoulders at $0.28 or to the head level, which was at $0.25.
If the uptrend continues, the rally could be accelerated by the 12-month buyback proposal, as previously reported by AMBCrypto.
Buybacks typically result in a supply crunch, which fuels upward trends if that same situation is followed by demand for the token.
Final Thoughts
- Optimism jumped 13% in price while volume increased 140% in the last 24 hours.
- Channel activity and the broader market resurgence pushed OP’s price higher during the day.
