- 1,06 Million addresses that hold OP now have a net profit.
- The OP volume has surpassed $1 billion for a second consecutive day.
Recently, many cryptocurrencies have reached record levels. Optimism [OP] The number of profit holders has also reached a record high. In the last 24 hour, a number of key metrics, including the supply of profit, have risen.
Optimism addresses go green
Data from IntoTheBlockAll Optimism Addresses were in a profit-making state for the very first time in human history.
A post on the site showed that as of 5th of March, 1,06 million addresses (100% of OP holders) were profitable. All addresses that held OPs at different price levels were able to capitalize on their investment.
Source: Santiment
Santiment’s data analysis revealed that at the time this report was published, the total OP profit supply approached 4.3 billion dollars. This represents a 99.9% share in the overall supply.
A chart analysis revealed that the supply of profit rose dramatically around November. Since then, this trend has been on the rise, reaching a new high.
Volumes increase by 100% in 24 hours due to optimism
An in-depth analysis of Optimism’s Volume revealed a record performance on the 5th of March. Volume chart showed a high of $1.26 Billion on that day. This was the highest volume for months.
In July, $1.4 billion was the last significant increase. The volume has continued to increase, and at the time this article was written, it had reached around $1.28billion.
Source: Santiment
This was the first time Optimism had consecutive volumes of more than $1.2 billion for a period of months. It is a sign that Optimism has experienced a surge.
CoinMarketCap states that volume has seen a dramatic increase of more than 100% in the past 24 hours.
OP price breaks down into $4 range
Analysis of Optimism The daily timeframe gives insight into the reasons why all addresses are now in profit.
On the 5th of March, OP’s end-of-day trade saw a 15.43% increase, with a closing price of over $4.5. This marked a significant increase in OP’s daily trading, something that hadn’t been seen since December. OP saw a jump of more than 37% on December 22nd and over 14% December 27th.
Source: Trading view
OP traded at $4.4 at the moment of writing this, a slight decline in value of 0.8%.
Despite the dip, its Relative Strength Index was still in a bullish trend. Its RSI (Relative Strength Index) was approaching 70 as of this writing.
What is the cost? 1,10,100 OPs worth Today
Buyers are more aggressive due to optimism
On the 5th March. Optimism As indicated by data from Coinglass. A study of the OP financing rate revealed a sharp increase. It reached its highest level for over seven months, at around 0.18%.
The funding rate is now lower than it was at the time this article was written. The rate is now at 0.02%, which indicates a reduced level of buyer aggression.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com
