Optimism is currently outperforming the crypto market. And this has several reasons which I will discuss in the following.

But before we get into stats and figures let’s start with a quick summary of what this project is.

🌰Optimism in a Nutshell

Optimism wants to solve one of the major weaknesses of the Ethereum blockchain — its low throughput. To do this it rolls up 100s of transactions which are represented by a single transaction on the Ethereum mainnet. As a result, transactions on Optimism blockchain are faster and cheaper compared to the Ethereum blockchain.

An important aspect is that Optimism’s roll-ups are taken to be correct until they are proven false. In other words, there is a 7-day period when transactions can be challenged and removed from the chain.

Its native token $OP gives users access to what the project calls the ‘Optimism Collective’. This platform handles governance of the Optimism platform. Among others it allows holders to vote on issues such as protocol upgrades, inflation adjustment, and director removal.

Alright, let’s look at some charts now.

📈$OP Token Analysis

$OP token added +150% to its price over the last 30 days. This makes it one of the current top performers in the crypto market.

As with all cryptocurrencies, how Optimism progresses depends largely on Bitcoin. However, the currently very positive market environment suggests that there is still more room for growth.

However, trouble looms.

This next chart shows $OP token supply. Around May 2023 a big chunk of tokens will be unlocked.

This dilution will put the price under increasing pressure for the coming 3 years. If you want to better understand how dilution works and how it impacts cryptocurrency price then you should check out this analysis: 👇👇

I Analyzed The Dilution Of 32 Cryptos. Hodlers Beware!

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📡Optimism Network Stats

Meanwhile, the network is showing signs of strong growth. Here are some key stats for the last 30 days:

All of this looks really good.

However, we get similar numbers from other comparable networks that all benefit from a very positive market environment. It’s just that Optimism is currently standing at the very top.