2/28/2024 0 Comments Optimism crypto price![]() There was some better news after that, with the token making a slow comeback to finish the month at $0.5434. All this was bad news for the newly minted Optimism, and it fell to its all-time low of $0.4005 on 18 June 2022 – less than a tenth of what its price at launch. This was swiftly followed by the Celsius crypto lending platform freezing withdrawals, which only served to confirm the bear market. In June 2022, the market was still reeling from the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency. While the initial price still stands as optimism’s all-time high, there have been some moves in the OP token price. The market almost immediately decided it was overvalued and sent it down to a low of $0.7973 before closing the day at $1.44 – 68.5% lower than the opening price. It seems that price was rather optimistic, however. When OP first came onto the open market, via the first airdrop on, it was worth $4.57, according to CoinMarketCap. While we do have to remind you that past performance is never any indicator of future results, knowing what the token has done in the time that it has been available to trade can give us some useful context if we want to either interpret an Optimism price prediction, or make one of our own. Let’s take a look at the OP price history. While the concept has been around since 2019, it was only on that the first optimism airdrop took place, taking the OP turning its concept into something that existed in the real world, or at least the real crypto world. It is worth noting that, while you may see references to things like an “optimism coin price prediction”, such terms are not strictly accurate because OP is based on Ethereum, which makes it a token rather than a coin. ![]() People who hold OP can also take part in votes on the future of the network. Optimism’s native token is also called optimism (OP) and it helps fund third-party development proposals and integrations on the Optimism platform, via the Optimism Collective decentralised autonomous organisation ( DAO). In short, the idea behind Optimism is that it should be upbeat, last for a long time, be easy to work with, and do what it needs to do in a practical manner. In addition, the platform helps make Ethereum transactions faster and cheaper. It was built by Ethereum ( ETH) developers and is intended to be a minimal extension to Ethereum apps. It’s important to understand these pillars as they heavily influence the design of Optimism as a whole.” “Optimism is built according to a strong design philosophy that stands on four main pillars: Simplicity, pragmatism, sustainability and, of course, optimism.
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