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The Optimism blockchain has seen a steady increase in activity over the past few months, one reason OP’s price likely spiked in recent days. According to data from Dune Analytics, Optimism has surpassed its main competitor, Arbitrum, in terms of daily transactions. The network has also been processing more transactions per second (TPS) than the Ethereum mainnet, and is now being used by a growing number of decentralized finance (DeFi) protocols.
The flippening no one is talking about 👀
Optimism overtakes Arbitrum for Daily Active Addresses and Transactions per day. Very interesting pic.twitter.com/YdQVJr1xaV
— Westie 🟪 (@WestieCapital) January 10, 2023
One of the main drivers of Optimism’s adoption is its ability to reduce the cost of transactions on the Ethereum network. By using a technique known as “optimistic rollups,” Optimism is able to process transactions off-chain while maintaining the security and decentralization of the Ethereum mainnet. This allows for faster and cheaper transactions, which is especially important for DeFi protocols that require frequent transactions to function.
Optimism’s growing popularity has also been reflected in its total value locked (TVL), which is now at $1.37 billion, according to data from L2beat. This puts it in second place behind Arbitrum, which has a TVL of $2.43 billion.
Overall, the increasing adoption of Optimism as a layer-2 scaling solution for Ethereum is a positive trend for the broader Ethereum ecosystem. As more and more users turn to Optimism to reduce the cost and improve the speed of their transactions, it’s likely that we’ll see even more growth and innovation in the Ethereum DeFi space.
Optimism (OP) Price Prediction and Technical Analysis
Optimism (OP) has been showing a strong bullish trend in recent days with the price trading above the 20-day, 50-day, and 100-day EMAs in a bullish alignment, indicating continued bullish momentum.
At the moment, the RSI is at 85.75 which means it’s in overbought territory. This could mean that an impending pullback may be on its way, but if there’s enough trading volume, prices could still continue to climb. To better understand why a cryptocurrency’s price is fluctuating, traders must use RSI together with other indicators for clues and insights into what comes next.
In this case, OP’s MACD indicator is exhibiting bullish movement, with the MACD line established above the signal line and an unmistakably positive histogram showing a notable gap between both lines.
Trading volume is also showing positive signs for OP, currently at $38.254 million, which is significantly higher than the volume moving average of $18.903 million. This indicates that there is strong buying pressure for the cryptocurrency.
Optimism’s price is at $1.554 as of writing–up by 11.80% for the day. The immediate support levels for OP are at $1.413 and $1.479, while the immediate resistance levels are at $1.648 and $1.70. Traders should watch for a potential break of these levels as it could indicate a change in the current trend.
The current bullish trend of OP may be a good opportunity for traders, but they should also be aware of the overbought RSI and potential pullback, which means exercising risk management is a must to protect assets.
Alternative Cryptocurrencies to Invest In
As 2023 moves forward and investors anticipate a potential market recovery, experts are urging them to diversify their portfolios. Although Optimism (OP) is a well-known cryptocurrency project, other coins with good foundations such as MMEMAG, FGHT, and CCHG are being touted as offering greater growth potential for investors looking to diversify their portfolios.
Meta Masters Guild (MMEMAG) to Promote Web3 Gaming
Meta Masters Guild (MMG) is an upcoming Web3 gaming guild and ecosystem, which empowers gamers to join an expansive, decentralized game ecosystem and receive MEMAG cryptocurrency in return for their accomplishments. Members will enjoy full autonomy over the assets they accrue during gameplay while competing in tournaments with other players around the world.
The MMG platform is designed to reward players for both their time and money, guaranteeing them a fair compensation for participating in the game economies. To make this possible, MEMAG tokens are utilized as the only currency within the MMG ecosystem. “Gems” from these games can be converted into MEMAG tokens which gives players an opportunity to either cash out or reinvest back into the system.
MMG will strive to promote enjoyable gaming experiences and sustainability while building an atmosphere of ownership and camaraderie among gamers. One way it intends to do this is by addressing the major problems that plague the gaming world, such as exploitative practices. As a result, MMG has designed a fair, transparent ecosystem with input from players for control over game economies. The objective its open in-game economy permits every player trade their items or currency between each other freely.
The first game on the platform will be Meta Kart Racers, a Multiplayer Online Racing Arena (MORA) type of game, with more games and indie developers joining the ecosystem as it expands.
The $MEMAG token for the project is currently in its presale.
Fight Out (FGHT) Won’t Pull its Punches
In 2023, a revolutionary new move-to-earn (M2E) app and gym chain is set to shake up the fitness industry and give users a new way to earn rewards for their hard work. The project, called Fight Out, is looking to change the way you think about fitness.
With Fight Out’s cutting-edge technology, users can earn rewards for their workouts and participate in challenges against other members to accumulate REPS tokens. These tokens can then be redeemed for discounts on Fight Out’s membership packages, subscriptions, and merchandise including apparel, dietary supplements, and training equipment.
But Fight Out isn’t just about earning rewards, it’s also about community. The app and gym locations will foster a supportive atmosphere where members can cheer each other on as they work towards their fitness goals together. This community-based approach is designed to motivate individuals to become their healthiest selves.
Join the Fight Out presale now and become an early adopter!
Get involved and enjoy up to a 50% bonus!
⏰ Hurry before the stage 2 price increases to $0.0333! ⬇️https://t.co/z34Nkx3ffi pic.twitter.com/Bh7DSlgeoG
— Fight Out (@FightOut_) January 13, 2023
Fight Out is also introducing a unique NFT avatar that will track users’ physical accomplishments and level up as they progress in their fitness journey. This system provides a tangible way for users to see their progress and stay motivated.
The project is making a grand entrance to the Web3 space by launching its first physical gym in Q4 2023. With top-notch equipment, studios for rent, health bars and co-working areas plus cutting edge “mirrors” displaying digital profiles and sensors tracking progress–Fight Out will be setting the bar high for next gen fitness services.
Clearly, Fight Out has immense potential in the ever-evolving fitness and health sector. Its app is extremely innovative with its tech features, coupled with prominent athlete endorsements that have quickly attracted investors.
Since launch, the presale for Fight Out’s FGHT tokens has taken off and raised almost $2.9 million within a matter of weeks. Now’s your chance to take advantage of this opportunity and get up to 50% bonus on investments over $50K during their presale period.
C+Charge (CCHG) Charging Up Investor Interest
C+Charge, a blockchain-based peer-to-peer EV charging payment platform, is set to revolutionize the way electric vehicle (EV) owners charge their vehicles. The platform aims to make it easier for EV owners to find charging networks, complete transactions, see costs, and earn carbon credits.
As EV usage skyrockets, so do the associated costs of charging. C+Charge is addressing this issue by providing users with information on the best rates for chargers and the current status of charging networks.
Using a rapid EV charger can significantly improve your charging experience! 🔌
At C+Charge we give you access to fast and convenient charging options ✅
Don’t miss the chance to grab some $CCHG today and stay ahead of others! ⬇️https://t.co/ixe18bPqzI pic.twitter.com/nAqRgpX1aH
— C+Charge (@C_Charge_Token) January 13, 2023
The platform is also tackling existing issues in the EV charging industry such as limited access to carbon credits, no incentives for EV drivers, the absence of a unified payment solution, non-transparent pricing, and shortages in charging solutions. By addressing these issues, C+Charge aims to make EV charging more accessible and convenient for EV owners.
Investors now have the opportunity to purchase C+Charge tokens during the presale stage at a discounted rate of $0.013 USDT per token. The price will subsequently rise over three more stages until reaching its highest price of $0.02350 by the end of the presale. This is a chance for investors to be part of a platform that is making a real impact in the EV industry.
Related:
FightOut (FGHT) – Move to Earn in the Metaverse
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses
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Source: https://insidebitcoins.com/news/optimism-op-price-prediction-as-it-surges-in-popularity-as-layer-2-scaling-for-ethereum