Optimism (OP) Price Jumps Nearly 20% as Unichain Moves to OP Enterprise
OP, the native token of Optimism, climbed practically 20% at one level within the final 24 hours after Uniswap introduced that Unichain will hand its manufacturing operations to OP Enterprise.
The rally got here as Bitcoin and several other main altcoins confronted renewed promoting strain, giving OP a uncommon enhance.
Unichain Handover Sends OP Higher
CoinGecko reported in a publish on October 14 a 19.4% daily gain for OP that took it to $0.1621, linking the transfer to Uniswap’s announcement that Unichain would transition to OP Enterprise.
However, on the time of writing, it had given up a few of these good points and was buying and selling at round $0.156, nonetheless a 14% bounce in 24 hours and 28% in seven days. It additionally gained 64% in 30 days however stays down practically 68% from a 12 months in the past.
Trading exercise additionally rose alongside the worth. OP recorded round $226 million in 24-hour quantity, a 128% improve from the day past. The final time the token went greater than it did at this time was in mid-May when it touched $0.166.
Uniswap’s October 9 announcement explained that Unichain’s testnet migration was scheduled for October 13, with mainnet migration set for October 29. The transition leaves Unichain’s chain ID, contracts, balances, and present Uniswap v2, v3, and v4 deployments unchanged.
Under the association, Optimism will function the manufacturing infrastructure, together with sequencers, distant process name providers, monitoring, and incident response throughout mainnet and testnet. Unichain customers are usually not anticipated to face adjustments to their present expertise.
The handover additionally prepares Unichain for native interoperability throughout the OP Stack. Once that performance goes dwell, customers shall be in a position to switch property, beginning with ETH, between Unichain and different OP Stack networks with out counting on a bridge.
OP Rallies as Wider Market Struggles
The worth transfer stands out towards the circumstances reported by CryptoPotato yesterday. Several main altcoins lost ground, with NEAR falling roughly 10%, Zcash dropping greater than 6%, and each Cardano and Hyperliquid shedding round 5%. Ethereum additionally briefly dipped to $2,400 earlier than recovering above $2,500.
Zcash appears to have turned issues round, recouping greater than 4% within the final 24 hours to go above $1,250, whereas NEAR dumped one other 4% and was hovering simply above $5 on the time of writing.
Meanwhile, Bitcoin had fallen as low as $80,850 earlier than rebounding towards $84,000, whereas each day liquidations throughout crypto markets exceeded $800 million.
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