Optimism (OP) Skyrockets to New ATH, Gains Over 40% Weekly

Optimism continues to perform. The cryptocurrency just painted a fresh all-time high which, at this point, happens almost daily.

This brings its total gains for the week to around 43%.

Optimism continues to be one of the best performers within the cryptocurrency market, and its native token – OP – managed to increase by 43% in the past seven days.
Its monthly gains are even more impressive, clocking in at around 230% for the past 30 days.
At the time of this writing, OP trades at around $3.22 (on Binance), charting a fresh all-time high.

The impressive price performance comes on the back of a considerable increase in the total value locked in the protocol, which is currently sitting at a 3-month high.
The last time the TVL was so high was back in November 2022.
It’s also worth noting that OP is amongst the leaders in derivatives trading volume, and its tumultuous price action has led to about $3.5 million worth of liquidated positions in the past day alone.
As CryptoPotato reported yesterday, the Optimism Foundation released a proposal regarding upgrading the mainnet to provide a “new level of modularity, simplicity, and Ethereum equivalence for Layer-2 solutions, providing unprecedented performance and functionality.”
The upgrade would also reduce transaction costs, and increase throughput characteristics and sync speeds.

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