- Optimism (OP) price has surged to its highest level since May 2nd.
- Velodrome (VELO) token price jumped by more than 25% in the past 24 hours.
- Optimism and Coinbase Base have seen their Total Value Locked (TVL) jumps.
Optimism (OP) price went parabolic on Friday as key dApps in its ecosystem like Velodrome (VELO), Synthetix (SNX), and AAVE jumped. The OP token surged to a high of $2.20, its highest point since April 30th. It has risen by more than 151% from its lowest point this year.
Velodrome is doing well
Optimism is one of the leading layer-2 networks in the blockchain industry. It is a platform that supercharges the performance of Ethereum dApps by lowering their transaction costs and boosting its speeds. It has a total value locked (TVL) of over $837 million.
Optimism price is doing well as key parts of its ecosystem booms. Velodrome’s TVL has jumped to over $133 million, making it the second-biggest dApp in the ecosystem after Synthetix.
Velodrome’s VELO price has jumped by more than 25%, giving it a market cap of more than $24 million. It has soared as the volume in its ecosystem has jumped in the past few weeks. According to CoinMarketCap, the total volume in Velodrome rose to over $9.6 million in the past 24 hours.
Read more: How to buy Synthetix.
Synthetix is also doing well as the TVL has jumped by more than 47% in the past 30 months. It has jumped to more than $294 million while the revenue in the past 24 hours stood at over $234k. SNX price has surged by more than 136% from its June low.
The other top players in the Optimism ecosystem are AAVE, Uniswap, Stargate Finance, and Beethoven X.
In addition, Base is also doing well. Base is a layer-2 network, which is owned by Coinbase. Its total value locked has jumped to over $328 million while the number of users in its ecosystem in the past 24 hours stood at over 47k. The biggest players in Base, which exists in Optimism, are Aerodrome, Stargate, and Friend.tech.
Optimism price forecast
The daily chart shows that the OP price has been in a strong uptrend in the past few weeks. It has flipped the key resistance points at $1.81 and $1.95, the highest points on August 7th and November 13th. The coin has also moved above the 50-day and 25-day moving averages.
Optimism’s Relative Strength Index (RSI) and the MACD have pointed upwards. Therefore, the outlook for the OP token is bullish, with the next price to watch being at $2.50. This price is about 16% above the current level.
