Optimism recently saw the volume of USDT and USDC transactions on its network surpass $1 billion. The price and active address, however, show convergence as its TVL continues its growth. Recently, the Optimism network experienced an anomalous uptick in stablecoin transactions. Numerous theories on what might be to blame have arisen due to this. Additionally, […]
The price and active address, however, show convergence as its TVL continues its growth.network experienced an anomalous uptick in stablecoin transactions. Numerous theories on what might be to blame have arisen due to this. Additionally, the network has been experiencing respectable Total Value Locked , and these indicators could also explain the network’s recent fortune.chain has attracted the attention of onlookers due to particularly unusual behavior on the network.
From the chart provided by Santiment, it was clear that USDT and USDC transactions had recently surpassed $1 billion.However, there appeared to be a correlation between the surge in transaction and price and active addresses, which put the idea of foul play to rest. Given the price movement of OP and the 24-hour active address metrics for USDC and USDT, it was evident that there had been a convergence. Over 3,000 addresses for both stablecoins were observed on theFrom the charts, it could be seen that the surges had followed a typical market trend and had subsequently returned to normal. The price of OP had decreased, and the amount of USDT and USDC transactions had likewise stabilized.
The Layer 2 solution has seen a consistent increase in its Total Value Locked amount, indicating that it might occasionally encounter those abnormalities.from DefiLlama. Its TVL at the time of this writing was above $500 million. Although the TVL had been declining in recent months, it had experienced a massive uptrend in the months before the decline started. Also, the percentage of its current decline was still low compared to how much it had increased.OP was trading at about $0.
The elasticity of the Bollinger Band at a daily timeframe revealed that the price movement was volatile. The fall could also be noticed in the relative strength indicator line’s location, which was below the neutral line.Subscribe to get it daily in your inbox.
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