OP Up 6.7% in Seven Days

• Mint has secured a massive $1.35 million from Optimism. 
• The funds will be used to “empower builders” and bring new users to Mint. 
• L2 token IMX skyrocketed 6.35% in 24 hours while OP was up 0.33%.

Mint blockchain, an Ethereum Layer 2 blockchain focused on the non-fungible token (NFT) industry, announced a significant grant of 750,000 OP, equivalent to $1.35 million, from Optimism, another Layer 2 blockchain built on Ethereum.

According to Mint’s post on X (formerly Twitter), Optimism awarded the funding as part of Cycle 28. Mint is the only Superchain to receive funding in this round. A detailed plan outlining the blockchain project’s future initiatives will be released soon. The funds will support developers and onboard new users on Mint.

Mint also called upon developers to build on the blockchain and share ideas through the Mint developer forum. The OP Grant aims to incentivize developer growth and user engagement within the Mint ecosystem.

It is important to note that Optimism received 53 applications for Cycle 28 and approved only eight, with two pending approval.

OP and L2 Token Performance

According to the data from CoinMarketCap, OP token gained 6.7% in the past 24 hours, trading at $1.76 at the time of writing. With a market cap of $2.21 billion, OP ranks as the second-largest Layer 2 cryptocurrency, with a trading volume of $138.85 million. The altcoin rose 13.14% in the past 30 days.

On the other hand, Immutable (IMX), the largest L2 coin by valuation, increased 6.35% in the past 24 hours and trades at $1.66. The cryptocurrency has climbed 23.50% in the past 30 days and 213.45% since October 2023. IMX has a market cap of $2.72 billion.

Other notable altcoins in the L2 ecosystem include Mantle (MNT), up 7.38% in the past week; Arbitrum (ARB), trading at $0.5639, up 4.51% in the past 24 hours; and Starknet (STRK), down 81.33% since October 2023.